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Lumen Technologies ad-hoc group preps competing proposal
5 months ago
The refinancing of Lumen Technologies, currently held by 1311 different CLOs with a combined principal balance of USD 3.8bn, took a new twist today as details of a competing proposal emerged -
German property co hits new wides as investors scrutinise investigation report
2 years ago
The bearish momentum that gripped financial markets on Friday has spilled over the weekend into Monday's session, with an especially big move in the debt of one German real estate borrower taking it to worrisome spread levels -
Ninety One hires ex-Oak Hill duo for new European credit opportunities platform
3 years ago
Ninety One Asset Management, formerly known as Investec Asset Management, has hired two ex-Oak Hill officials to build the firm's European credit opportunities platform -
It's all relative: CLOs march tighter as macro traders open positive CDS skews
3 years ago
Credit default swaps are back near where they started the year after giving up their early-February gains amid a rise in government bonds. CDS curves steepened over the past month and macro hedging has left indices trading with positive skews. But CLOs paint a calmer picture in which spreads have inched tighter -
It's all relative: CLOs are lagging no more, as Carlyle deal drags market tighter
3 years ago
“CLOs are lagging” has been a much repeated refrain over the last nine months. But Carlyle Group has this week produced a US CLO that has dragged spreads to their tightest point in three years so that, rather than comparing CLOs to pre-covid levels, they should be assessed against early 2018 -
It's all relative: senior CLO tranches tighten 18% in Europe as CDS indices sit out rally
The corporate credit rally in January is notable because some assets tightened to levels not seen in over a decade (loans), others rallied albeit with a lag (CLOs) and the most liquid stream of credit (CDS indices) defied moves in other asset classes to widen
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Credit beats fast retreat as Biden boost dissolves in sea of troubles
3 years ago
The improvement of financial markets following the inauguration of Joe Biden as US president on Wednesday is looking short-lived as the week comes to an end, with CDS indices once again among the poorer performers -
Blackstone raises $8 billion for 'largest real estate debt fund ever'
3 years ago
Blackstone is flush with cash to deploy into commercial real estate properties after finalising fundraising on its latest real estate debt fund, Blackstone Real Estate Debt Strategies IV -
Patrimonium launches two private debt funds
3 years ago
The Swiss-based direct lender its targeting €800 million for its second co-investment fund with Credit Suisse and has developed a new credit opportunities strategy -
Tikehau appoints head of capital market strategies
3 years ago
Tikehau Capital has appointed a head of capital market strategies effective today, responsible for overseeing the firm’s €3.8 billion bond, equity and flexible investment strategies -
Virginia pension allocates $850 million to credit in Q1
4 years ago
Virginia Retirement System has allocated $850 million to three credit strategies in the first quarter of the year, according to an update at its 15 April investment committee meeting -
Fair Oaks suspends dividends from listed CLO fund citing covid-19 uncertainty
4 years ago
Fair Oaks Capital has suspended dividends on its listed CLO fund “in light of the ongoing uncertainty in economies and markets caused by covid-19 pandemic”, according to an update to investors in the $315 million fund -
Brigade collects $100 million for 'senior tranche' SMA
4 years ago
Brigade Capital Management has won a $100 million mandate from Texas County & District Retirement System for a structured credit fund geared towards senior tranches -
CLOs show coronavirus resistance even as bonds and loans suffer
4 years ago
CLO managers are - so far - looking defensively positioned in relation to the coronavirus outbreak, with only two of the five largest portfolio sectors listed as very negative in latest Wells Fargo research. But investor fears have all but closed the loan and bond primary pipeline, while lower rates signalled by the US Federal Reserve could spell a fall in leveraged loan and CLO demand -
Texas pension backs ICG credit fund
4 years ago
Texas County & District Retirement System (TCDRS) committed $167 million to a fund managed by Intermediate Capital Group in January, according to documents seen by Creditflux. -
Texas pension seeks direct lending funds backed by hard assets
4 years ago
San Antonio Fire & Police Pension Fund is launching a private debt search with a focus on hard-asset lending, according to pension fund meeting documents seen by Creditflux -
Rallye CDS auction price drops to 12.5 cents on unmatched sell requests
4 years ago
Rallye's credit event auction to settle CDS contracts produced a final price of 12.5 cents today, lower than the initial price set in the first round this morning of 14.975 -
Rallye CDS set for high pay-out with credit event auction underway
4 years ago
Rallye CDS looks set for a high pay-out to protection buyers after a credit event auction today to settle the contracts produced an inside market midpoint of 14.875 cents, slightly below where the retailer’s bonds have been quoted -
Credit Suisse and Patrimonium launch direct lending fund and plan a follow-up
5 years ago
Credit Suisse and Patrimonium have completed the launch of a new direct lending fund which has reached CHF165 million ($167 million). -
Triton draws $167 million of inflows for European opportunistic debt fund
5 years ago
Triton Partners has raised at least $167 million for its second debt fund, Triton Debt Opportunities Fund II -
French manager liquidates share class on €167.2 million corporate credit fund
6 years ago
A Paris-based manager has jettisoned a share class on a €167.2 million corporate credit fund that invests in bonds, credit default swaps, shares and share options -
Former HSBC credit trading head resurfaces at hedge fund giant
7 years ago
Credit trading head takes role with hedge fund manager in London -
Off-sef and uncleared credit default swaps soar
9 years ago
The notional amount of uncleared CDS contracts more than doubles in a week -
Credit market snapshot: spreads move back towards historic tights
10 years ago
Credit markets continue to drive tighter approaching new year's historic tights -
Credit market snapshot: cash spreads tightens as treasuries sell off
10 years ago
Corporate bond yields widened yesterday, tracking treasuries significantly wider for a second successive day
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