Highland Sees New Issue CLO Return This Year February 08, 2010

--Libby Sallaberry
Highland Capital Management sees around 30 new issue collateralized loan obligation transactions occurring this year, as spreads continue to tighten and investor interest picks up, Gibran Mahmud, portfolio manager, told TSCI.
“In general, what’s attractive is high teens [for equity tranche returns],” said Mahmud. “You haven’t been able to get to that level because the arbitrage between the loan prices and the cost of debt isn’t quite ...

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