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91 results found Showing page 1 of 4

  • Keep calm and buy corporate loans
    Calm heads prevailed in 2018. Markets were volatile and risk retention was supposed to cause problems, but there was no need to panic and volumes went on to break records set in 2014

    11 days ago
  • It’s going to be a credit picker’s market
    Our panel of experts believe that the credit market will be volatile this year, but there will be opportunities in European credit and additional tier one bonds, trups CDOs and unitranches

    11 days ago
  • Retail fund pain is a CLO manager’s gain
    Retail funds dumped loans in record volumes late in 2018, creating ideal conditions for CLOs to capitalise with performing credits available in the mid-90s for the first time in years

    11 days ago
  • Sears ready to roll after DIP bidding war
    Iconic US retailer Sears filed for bankruptcy in October. Most CLOs dodged its loans, but the restructuring has seen a DIP bidding war, a CDS committee split and the departure of a CEO.

    2 months ago
  • Loan volumes fall in Europe but rise in US
    European CLO managers seem to be eating into the loan market with more appetite than their, US counterparts, who are perhaps spoiled for choice. But background risks lurk in both markets

    2 months ago
  • The financial crisis was the making of ’em
    Some of the largest and best performing CLO managers before the crisis were fairly nimble by today’s standards — but these 1.0 outperformers are now among the biggest names in the industry

    2 months ago
  • After early crescendo CLOs end on flat note
    Huge issuance and the end of risk retention ensured the US CLO industry was buoyant in early 2018, but later in the year the term curve flattened, pricing levels became sporadic and volumes dwindled

    2 months ago
  • Risk retention was difficult, but worth it
    When US skin-in-the-game rules were announced in 2014, it was clear they would be a burden for managers. But no one expected risk retention funds to bring new types of investor into CLOs

    2 months ago
  • Finding the hidden value in success
    Learning from one’s mistakes is often cited as key to professional development. However, widening this perspective and paying attention to things that go well can further improve performance

    2 months ago
  • October: credit funds at a glance
    For the full report detailing fund trends, people moves and fund raising and launches

    3 months ago
  • September: Ucits at a glance
    Ucits funds continue to post mixed returns

    3 months ago
  • September: fund performance

    Corporate long-short funds regain their swagger after dip.

    3 months ago
  • Buy and hold isn’t only option for CLO equity
    New US CLO equity is being more regularly flipped into b-wics. Figures suggest that equity pieces of 2017 and 2018 US deals made up 22% of the b-wic market over the past four quarters

    3 months ago
  • Widening whisks market back to 2017
    Right now, CLO volumes are healthy and the list of active managers is steadily growing. But with CLO liability spreads reverting to where they were a year ago, some issuers are a little nervous.

    3 months ago
  • Managers digest blockbuster deals
    Third quarter loan and bond volumes tend to be small — but this year corporate credit fund managers have swallowed huge deals from AkzoNobel, Altice and Refinitiv

    3 months ago
  • New issues keep managers busy in summer season
    New issue loans made up 74.1% of volumes in August, supporting US CLO managers looking to ramp up. Spreads tightened to 368bp, but managers can’t complain — it’s much better than in Q1

    4 months ago
  • Finding a way around the regulator’s web
    In Europe, direct lending funds are usually caught in the complex web of requirements spun by national regulators. But unregulated funds can sidestep many rules and be launched more quickly

    4 months ago
  • Updated, upgraded and ready to launch
    Whether it’s a software update or a full-blown upgrade to a newer model, CLO technology is advancing fast, with Be-Spoke and Ellington the latest to launch new types of securitisations

    4 months ago
  • Time to reprice? Then compare the market
    CLOs no longer fizzle out. Instead, they go through multiple repricings, where, with stakes lower and deadlines tighter than when they were issued, their managers can try alternative arrangers

    4 months ago
  • Still weighed down by 2015 oil price slump
    It’s three years since the depths of the oil crisis but offshore service companies — such as the helicopter businesses that transport workers to oil rigs — are not seeing lift-off in prices or profits

    4 months ago
  • August: fund performance
    CLO spreads jumped wider in August, but funds that invest in these assets have been able to outperform

    4 months ago
  • September: credit funds at a glance
    White Oak Global Advisors held a $2.1 billion final close on a new direct lending fund, while Phil Raciti's move from CVC Credit Partners to Halcyon Capital Management was one of the biggest moves in the credit industry

    4 months ago
  • Wide CLO pricing need not be a drag
    Established managers can price CLO liabilities at attractive levels, but we find that CLOs saddled with higher financing costs have nevertheless been among the market’s outstanding performers

    5 months ago
  • Weighted average life divides CLO industry
    Creditflux’s second CLO Census reveals stark differences of opinion on weighted average life and par-flush for US CLOs. But there is a clear consensus on which bank is best at CLO execution

    5 months ago
  • Loan market finds balance as spreads edge wider
    New issue volumes were robust in July with relatively few loan refinancings getting done. Loan portfolio managers say the loan market is finally balanced, having been in favour of borrowers

    5 months ago

91 results found Showing page 1 of 4

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