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1H23 CLO manager rankings by AUM
9 months ago
Creditflux published the latest update to our rankings of the CLO manager universe today. The new rankings provide a full and comprehensive view of CLO managers by their principal liabilities (debt and equity) as of 30 June 2023. -
1H23 CLO issuance rankings
9 months ago
Our latest set of CLO issuance rankings for the first half of 2023 showcase the most active CLO arrangers, managers, lawyers and trustees over a challenging six months. -
Proposed regulation changes could open up US CLO funds to UK investors
9 months ago
Proposed changes to the UK Securitisation framework may expand the investor base for US structured credit if passed. -
European holiday ends as Palmer Square prices CLO
9 months ago
The European CLO market’s month-long early summer holiday finished today as JP Morgan priced a new static CLO for Palmer Square. -
Refinancing and extensions dominate European debt issuance and hit highest share in a decade
9 months ago
With the highest interest rates in the Eurozone since the Global Financial Crisis, the European leveraged finance market has been dominated by companies that need to refinance or extend their deals. -
Casino failure to secure requisite default waivers, non-payment of social security charges and taxes prompt questions on CDS triggers
9 months ago
Casino Group announcements that it failed to obtain the requisite consent from its bondholders and RCF lenders to effect a payment standstill and to waive any defaults for the duration of its conciliation proceedings and that it deferred payment of its tax and social security liabilities have led market participants to submit credit event requests to the Credit Derivatives Determination Committees (DC). -
High yield bond index offers opportunities for credit pickers
9 months ago
The global high yield bond market has become a skewed barbell offering benefits to credit pickers, according to a new research note from global asset manager Ninety One. -
Bond-backed buyouts balloon as loan yields hit astronomical levels
9 months ago
Issuers tapping public syndication for leveraged buyouts have turned to the high-yield bond market in recent months, where levels of activity are impressive considering the current shortage of new money issuance. -
Asset-heavy companies look again at whole business securitisation
9 months ago
Whole business securitisations (WBS), which improve bondholder protections by ringfencing some parts of a business into an SPV, were popular before the financial crisis, but existing transactions in the UK have started to tap the markets for fresh funds. -
Question your assumptions
9 months ago
Valuing CLO paper is complicated, and loan prepayments are one of the trickiest parts. When pricing a new issue CLO, the market generally assumes that 15-20% of loans will prepay their principal annually. This prepayment rate is important because it essentially determines the pace at which a CLO’s rated debt is paid off after the reinvestment period, when the CLO pays down its own principal. -
All change, please
9 months ago
This year has not only seen the fall of Credit Suisse, but also the arrival of two fresh faces — Scotiabank and CIBC — triggering a wave of hiring that has some way to run. -
Fund performance
9 months ago
Good month for CLO funds sees six in top 10 as Axiom sets pace -
Credit hedge funds
9 months ago
Credit hedge funds performance data -
Credit funds at a glance
9 months ago
Fund performance, fund raising and LP commitments -
CLOs at a glance
9 months ago
New CLOs this month -
Borrowers are finding creative ways to address loan maturities
9 months ago
Amend and extends have been the loan market’s flavour of the year. At the same time, many CLO reinvestment periods are reaching their end because the reset market is virtually closed. -
Past returns: Truly transatlantic
9 months ago
10 years ago we reported on Axa Investment Managers’ plans to enter the US CLO market. -
CVC closes third captive equity fund
9 months ago
CVC Credit has announced the final close of its latest captive equity fund, CVC CLO Equity III, with a mammoth $800 million of commitments. -
Loan Highlights 2Q23: Running aground
9 months ago
The global loan market endured a bleak first half of the year, with the overall 1H23 volume falling 28% year-on-year (YoY) to $1.9 trillion, the lowest showing since 2012. -
Sound Point becomes 5th largest CLO manager as Assured deal completes
9 months ago
Sound Point announced the completion of its partnership with Assured Guaranty yesterday jumping Sound Point into position as 5th largest CLO manager in the world. -
Blackstone rethinks captive equity strategy
9 months ago
Blackstone has announced proposals to wind down its existing risk retention vehicle, Blackstone Loan Financing Limited (BGLF). -
Secondary activity ramps up as post-Barcelona rally continues
9 months ago
BWIC activity across European ABS and CLOs increased this week as investors and asset managers look to take some risk off heading into the summer -
Serone Capital hires PM for European Special Situations Fund
9 months ago
Serone Capital Management has hired new blood in its European special situations division as existing PM Ralph Herrgott moves on -
Berenberg closes its fourth debt fund in the renewable energy space
9 months ago
Berenberg is continuing to raise money in the renewable energy debt sector, with the German bank working alongside BayernInvest Luxembourg to close its fourth debt fund in the space. -
Hedge fund Sona taps Barclays exec
10 months ago
Private credit manager Victory Park Capital has launched Triumph Capital Markets, a new platform that focuses on structured financing and capital markets
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