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Defaults rise yet fears of low recoveries hurt even more
1 year ago
Defaults and Chapter 11 filings are picking up this year amid tougher economic conditions for borrowers -
Antares adds to new syndicated loans unit with portfolio manager hire from Apex
1 year ago
Antares Capital has hired Andrew Stern as managing director and portfolio manager responsible for liquid credit -
Pimco promotes global lev fin and CLO head to managing director
1 year ago
Pimco's leveraged finance head is one of five senior officials promoted to managing director -
Carlyle liquidates European CLO warehouse as Credit Suisse exposure drops to zero
1 year ago
Carlyle Group has become the latest European CLO manager to liquidate its warehouse with Credit Suisse, according to sources, leaving the bank with no European CLO warehouse exposure -
Job opportunity with Generate: CLO credit analyst
1 year ago
Generate Advisors has released details of the following job opportunity: CLO Credit Analyst, New York -
Barclays won't let sleeping dogs lie after another Newfoundland CLO reset
1 year ago
Newfoundland CLO, the long running and world's largest balance-sheet CLO, has been given a new leash of life by upsizing in a reset yesterday, according to announcements from Moody’s and Scope Ratings. -
Octaura hires former Morgan Stanley loan portfolio executive
1 year ago
Octaura, the startup firm founded to facilitate the electronic trading of loans and CLOs, has hired a former head of Morgan Stanley's loan portfolio group -
Stunning January rally means CLOs are back in business
1 year ago
Longtime observers of the CLO market tell Creditflux they have “never seen the market move so quickly” after a rip-roaring January saw a spectacular rally in both loans and CLO debt. -
CLO equity investors join forces to take on lowly loan CSAs
1 year ago
Private equity firms have held the upper-hand against US loan investors in the past few months, but the largest CLO equity investors in the business are working together to redress the imbalance between PE sponsors and creditors -
Octaura's first fully electronic syndicated loans trade
Octaura, the loan and CLO trading platform backed by eight large US investment banks, has completed its first fully electronic syndicated loan trades, the firm has announced1 year ago -
Lights go out for Heritage Power with 120 CLOs left in the dark
1 year ago
US based power plant operator Heritage Power filed for chapter 11 bankruptcy in the bankruptcy court of Texas on Tuesday night, impacting $124.45 million of assets held by 120 US CLOs. -
Serta Simmons makes its bed again with default leaving CLOs with a restless night
1 year ago
$172.5 million of CLO assets defaulted on Monday after Serta Simmons Bedding filed for chapter 11 bankruptcy. -
CLO community pulls together to block Wellpet loan amendment
1 year ago
The power the CLO community can wield – if members stick together – has been underlined after a loan amendment proposed by Wellpet failed to pass -
Loan amendment alert: Wellpet offers 10bp CSA
1 year ago
Wellpet has issued a loan amendment request with a view to including a 10 basis points credit spread adjustment (CSA), market sources say. Although this is an improvement on recent amendments it still falls short, according to CLO investors. -
Beneath the triple C: Life could be better, but it’s just a letter, under the CCC
1 year ago
Many market participants were eagerly looking forward to a break in December after a gruelling year, but the rating agencies were in no mood to oblige. -
Fitch raises low end of its default forecasts for US leveraged loans and high yield
1 year ago
Fitch Ratings has increased the low end of its US leveraged loan and high yield default forecast ranges to reflect growing macroeconomic headwinds -
CVC plots further quasi-CLOs after landmark €400 million deal
1 year ago
CVC Credit closed a CLO-like’ vehicle backed by senior secured loans in December. Officials at the firm say they are in early stage discussions to launch similar vehicles after interest from equity investors" -
Loan managers must act to prevent CSA leakage, say CLO investors
1 year ago
CLO investors have made clear that managers need to stay on top of US loan amendments that are switching benchmark from Libor to Sofr -
Structured credit pair among 61 to earn promotion at Carlyle
1 year ago
Carlyle has promoted two members of its US CLO team among 61 new partners and managing directors -
European CLO managers trade loans to avoid (par) burn
1 year ago
Between March and July, European CLO managers traded €21 billion of assets within CLOs that were still in their reinvestment period as opportunities arose amid a weaker macro environment and Russia’s war with Ukraine -
Plenty more US CLOs in the CCC as buckets pass 5%, finds S&P
1 year ago
US CLO triple C baskets have nudged to 5.02% in November from 4.4% the prior month -
Fitch raises European default rate assumptions with loans in tougher spot than bonds
1 year ago
Analysts at Fitch Ratings have raised their base-case leveraged loan default rate for end-2023 in Europe to 4.5% from 3.5%, and their severe-case rate to 6% -
Banks are motivated sellers of loans and CLOs can benefit, says Eagle Point
1 year ago
Banks offloading loans long held on their balance sheets are providing CLOs with the opportunity to pickup primary market assets at deeply discounted prices, Tom Majewski, managing partner at Eagle Point Credit Management said on a company earnings call on Tuesday -
Credit Suisse to streamline European CLO manager client list
1 year ago
Credit Suisse is unlikely to be among the heavyweights in European CLO origination with market sources indicating that the bank is reducing its CLO manager client list -
Beneath the triple C: Stormy October hits CLOs with rising tide of downgrades
1 year ago
After a slight respite in the pace of downgrades over the summer for CLOs, October brought renewed momentum as macro-economic pressures - primarily high interest rate burdens for corporate borrowers and supply side inflation - became the recurring rationale
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