Economic TimesLean R·
Bain Capital CLO tranche defaults in post-2008 first for Europe
A European collateralised loan obligation managed by Bain Capital has defaulted on its most junior tranche, marking the first such failure since a regulatory overhaul over a decade ago. The note returned significantly less than its par value, though other investors were paid in full. This event highlights growing pressure on some older CLO deals as underlying asset quality deteriorates, exacerbated by recent market volatility.
Read at Economic Times →
