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Do defaults predict equity returns?
1 day ago
At first glance, recently redeemed European CLOs show some sort of correlation between final IRR and the number of defaults in their portfolio. But what other factors affect performance? -
CLO funds maintain strong start to 2024 to stay top year to date
1 day ago
The first quarter of 2024 has been a memorable one for CLO funds, as the category continues its dominant spell, claiming 7 of the top 10 spots in March -
Higher interest rates have caused more private credit downgrades, new report says
5 days ago
The lagging impact of higher interest rates is resulting in a sizeable uptick in private credit downgrades, according to a new report from KBRA -
CSAM gets happy ending as CLO 69 prices
28 days ago
Credit Suisse Asset Management continued its rapid pace of new CLO issuance today, pricing its latest new deal with a tight print -
US loan volume nears record levels
29 days ago
In Q1 2024 quarterly institutional loan issuance reached its second highest level on record. The period also saw the lowest quarterly share of new money issuance, at just 13% of total activity -
Fund performance
29 days ago
In February, CLO funds once again claimed the majority of top positions in our fund ranking — this time taking eight of the top 10 spots (see table below). -
Axa refis 2018 vintage US CLO
1 month ago
The start of the week saw Axa Investment Managers price its first deal since October, with a partial refi of its Allegro CLO IX deal -
2020 CLO gets a reset and a big upsize
1 month ago
AGL Credit Management has priced a reset of AGL CLO 9, a 2020 BSL CLO, with a USD 123m upsize in the debt tranches -
Onex is latest manager to reset a 2020 vintage
1 month ago
Onex Credit Partners has reset its OCP CLO 2020-20 deal, joining other 2020 resets like Flatiron CLO 20 and Owl Rock CLO III -
CSAM prices third new US CLO of the year
1 month ago
Credit Suisse Asset Management printed its third new US CLO of 2024 yesterday -
European companies reprice EUR 16bn of loans in 2024 as window opens
2 months ago
When the European loan market started to talk about rates peaking late in 2023, repricing rehearsed a comeback, but did so effectively in January this year -
Blackstone goes big for new US CLO
3 months ago
Blackstone yesterday priced its second deal of the year and first new issue, an upsized US BSL CLO that is the second-largest deal of the year -
Carlyle and Citi continue reset wave with rework of 2019 US CLO
3 months ago
Carlyle Group last week reset its largest CLO from 2019, market sources said, once again in partnership with Citi, who acted as the sole arranger after having arranged both the original deal and its refi in 2021 -
AB adds MM CLO reset to its roster
3 months ago
Although most attention over the past week has been focused on the BSL market, AllianceBernstein has been active in the middle market arena, with a reset of its 2019-vintage ABPCI Direct Lending Fund CLO V -
Oaktree grows business with new US CLO
3 months ago
Sneaking in with one of January’s last pricing deals, Oaktree Capital Management priced its latest offering yesterday, in a USD 405m US BSL CLO arranged by Morgan Stanley -
Carlyle adds new US CLO
3 months ago
Carlyle Group priced one of the tighter US BSL prints thus far this year in partnership with Citi as the primary market kicked into overdrive with an array of deals -
Beechbrook hires new managing director to expand UK direct lending business
3 months ago
London-headquartered Beechbrook Capital has hired Richard Smart as managing director tasked with growing the European lower-mid-market debt manager's UK direct lending strategy -
Full-year 2023 European Leveraged Highlights
4 months ago
Debtwire has released the full-year 2023 European Leveraged Highlights, containing key trends in the leveraged loan and high-yield bond markets -
CLO market round-up: holiday cheer hits as US senior spreads move in
4 months ago
The holiday period saw a brace of end-of-year US deals pricing, with a range of new issues, resets and a refi to lead the market into 2024, and senior spreads move firmly back in the 160s. -
Captive equity is still an option as Carlyle raises fund
4 months ago
Despite predictions of poor returns, captive equity funds can still be raised. The latest manager to hit the market is Carlyle Group, the world’s largest CLO manager according to our 3Q23 Creditflux rankings. According to market sources, Carlyle is raising a half-billion-dollar equity fund, which is expected to be complete by the end of the year. -
November 2023 European Leveraged Highlights
5 months ago
Debtwire today releases the November 2023 European Leveraged Highlights, containing key trends in the leveraged loan and high-yield bond markets -
Irradiant launches new captive equity fund
5 months ago
Irradiant Partners closed its latest captive equity fund today, with the third vintage of the Irradiant CLO equity strategy bringing in USD 411m in commitments -
KKR makes it four US CLOs this year
5 months ago
KKR last week priced its biggest CLO of the year, a half-billion-dollar new-issue US transaction, in a deal arranged by Citi -
State of the US Loan Market 3Q23 - Xtract Special Report
6 months ago
The US leveraged loan market continued to languish in 3Q23, but the average covenant score for large Sponsor loans bounced back somewhat from its precipitous decline in 2Q23 according to this special report -
DebtDynamics EMEA | Under pressure: likely-to-distress scores highlight struggling industries and regional woes
7 months ago
The European leveraged market has crossed the threshold of 100 companies at the stressed/distressed lifecycle stage, according to Debtwire data
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