"So, a prospective fund, wanting to bet against these loans, could be the first to purchase credit default swap contracts on the subordinated tranches."
Nice one. So if Oaktree is all over this already, who is left to jump on it now?.. Not much left, as it seems.
CLO’s have an eligibility criteria and are restricted to the amount of PIK that can be included in the transaction. Usually a 5% bucket.
I don't trust the institutions.
Nice one. So if Oaktree is all over this already, who is left to jump on it now?.. Not much left, as it seems.
CLO’s have an eligibility criteria and are restricted to the amount of PIK that can be included in the transaction. Usually a 5% bucket.
I don't trust the institutions.