Refine Search
Article Categories
Strategy Tags
- Direct lending (5)
- High yield bonds (10)
- People (24)
- Structured credit (3)
- CLO (58)
- Distressed debt (5)
- Credit derivatives (3)
Geography Tags
Podcast: Secondary loans rebound, CLOs widen and covenants deteriorate
7 days ago
Creditflux, Debtwire and Xtract discuss the current state of the marketFirst Data takeover foreshadows inflows for CLOs that hold the debt
28 days ago
CLO managers that hold portions of First Data Corporation’s $11.5 billion syndicated term debt could find themselves with lots of cash to redeploy later this year if Fiserv completes its acquisition of the financial services companyJP Morgan makes big hire to its global credit trading desk
1 month ago
An experienced banker who has covered CLOs, CSOs, loan TRS and credit derivatives, has joined JP Morgan after leaving BNP ParibasCLO issuance will temper as market remains in 'exploratory mode', notes BAML research
1 month ago
Following a bout of volatility in the loan market, CLO issuance will be tempered as debt and equity investors rediscover correct pricing levels, according to a new research paper published this week by Bank of America Merrill LynchCLOs can survive defaults, but it could be death by triple Cs
1 month ago
Covenant deterioration in the leveraged loan market has caused sleepless nights for CLO managers who worry that when defaults start to rise, recovery rates will be lower than in past downturns. But market participants are expressing concern that ratings, rather than defaults, pose a greater risk to the marketLoan rout gifts CLOs a par-building Christmas present
1 month ago
Correction time is here, as Charlie Brown once (almost) sang, building par and cheer. Fun for all that managers call their favourite time to... dealEuropean CLO volumes to drop in 2019, but mezz could benefit, says BNP Paribas
2 months ago
Demand for European leveraged loans will be lower in 2019 due to lower CLO issuance, predicts BNP ParibasDeutsche Bank refinances CLO backed with trade finance assets
2 months ago
Deutsche Bank has brought a $3.5 billion CLO backed by trade finance that includes a first-loss piece issued at parPro Mach packs biggest punch for CLOs as lev loan index takes a tumble
2 months ago
The US manufacturer's $819 million Term Loan B, due March 2025, dropped 0.76% on Monday from Friday’s closeTill debt us do part: CLOs have and hold David's Bridal loans as they plummet 10.87%
2 months ago
CLOs hold $26.63 million exposure to David’s Bridal, which filed for Chapter 11 bankruptcy on MondayUS clothing brand default leaves CLOs exposed
2 months ago
As many as 100 CLOs are among the holders of debt issued by FullBeauty, which defaulted on 31 October on an interest payment to its $345 million second lien loansKicking the tyres: CLOs survive examination as bankruptcies tick higher
3 months ago
US CLOs are weathering the turbulence triggered by a couple of bankruptcies in the broadly syndicated loan universe, namely US retailer Sears and American Tire Distributors. Those bankruptcies, filed on 15 and 4 October, respectively, have failed to dent CLO structuresBlueMountain hires ex-Deutsche levloan and high yield analyst
3 months ago
The new hire will support portfolio managers responsible for the firm's investments in CLOsLSTA asks for return of CLO bond buckets as part of Volcker reform
3 months ago
The Loan Syndication and Trading Association is advocating the return of high yield bond baskets within US CLO portfolios in what could be another sign of the shackles being loosened on CLO regulation in the USPension fund hires portfolio manager to oversee loan and CLO investments
4 months ago
PensionDanmark has hired a senior portfolio manager to oversee its credit investmentsCLO managers give ESMA requirements a test run
4 months ago
This year has already broken records for the European CLO market, but a new dose of regulatory uncertainty could put that growth at riskCLO market gauges counterparty risk as it predicts economic cycle will turn
4 months ago
Credit is showing symptoms of a cycle in its latter stages, according to CLO market participants. While this makes loan and manager selection important, participants are increasingly focusing on counterparty risk.Protiviti hires ex-structured credit specialist to head European lender due diligence
5 months ago
Consulting firm Protiviti has hired a former structured credit specialist as head of European lender due diligence and risk managementLoan managers can start to be selective
6 months ago
The portfolio overlap in European CLOs - at roughly 45% - is 10% higher than in the US. But newcomers and smaller managers stand a good chance of differentiating themselvesXtract: CLOs may be further squeezed by one-week Libor Election
6 months ago
There are 30 loans which could, at the drop of a hat, switch to one-week Libor benchmarks, according to a report by Xtract ResearchExperienced CLO specialist joins Pretium
7 months ago
Pretium Partners moved into CLO management a year ago and now has $2 billion in AUM in this space thanks to a couple of acquisitions. It has now hired a portfolio manager to deal with the additional AUMEuropean CLO PM rumoured to be joining CIFC from large asset manager
7 months ago
CIFC Asset Management looks to have made a major breakthrough in its bid to establish a European credit business with the $17 billion asset manager rumoured to be hiring the head of European performing credit at a large global credit firmInvestors debate merits of bond buckets as regulators revisit Volcker rule
7 months ago
CLOs with bond buckets could return in the US as federal agencies have signalled their willingness to roll back certain parts of the Volcker ruleGrowth in UK loan issuance sparks sterling CLO revival
7 months ago
Strong sterling denominated leveraged loan issuance relative to euro issuance in western Europe has inspired securitisers to launch CLOs in the British currencyThe expanding middle
7 months ago
Our analysis of mid market CLOs reveals that managers have distinguished themselves with the overlap between mid market US CLO portfolios being approximately 5%
Want all the latest news, comment, analysis and data?