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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 -
CLOs keep eyes glued to screen as Cineworld previews possible chapter 11
1 year ago
Cineworld, the UK-based cinema giant, has announced that a chapter 11 restructuring is among the options it is considering, in response to recent media speculation about a possible default -
You seem familiar
1 year ago
The overlap between European CLOs has risen to 51.6%, but the largest issuers are only slightly more aligned to their peers at 55.19% — so bonds are proving to be an important differentiator -
We’ll get through this awkward patch
1 year ago
Wide liabilities have made pricing CLOs trickier in the past few months. But speakers at Creditflux’s CLO Symposium were optimistic that the arbitrage is OK — so long as you can place those triple As -
Fund performance: Credit hits another bump in the road after March revival
1 year ago
There was more upheaval for credit funds in April, reversing the mini-recovery in March as 40% of funds made positive returns, a decrease on the 47% in March -
We’re drifting apart
2 years ago
Everyone’s issuing US CLOs these days and it is tempting to believe the crowd of managers is blending into one. However, overall portfolio overlap has dropped to 37.7% across 2021 CLOs -
Ucits at a glance: 2022 opens shakily but with a familiar lead
2 years ago
Ucits funds moved slowly into 2022 as 59% made negative returns in January -
Fund performance: Groundhog Day as 2021 leaders start strong
2 years ago
CLO funds once again claim the most top performing spots as seven out of 10 funds belong to the category -
The Creditflux CLO Symposium was back as an in-person event for the first time in two years and participants were delighted to socialise and bask in an amazing year for the credit industry2 years ago
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Ucits at a glance: mid market fund leaps into top four
2 years ago
The majority of Ucits funds end Q2 on a high note as 76% of those in our database recorded positive performance in June -
Fund performance: Déjà vu as April leaders dominate
2 years ago
CLO funds stayed in the top flight for another month as they took over the top 10 credit hedge fund return table in May, when 87% of all funds listed made positive returns -
Fund performance: CLO funds outperform as two hit over 100% 12-months return
2 years ago
CLO funds swatted away the competition in April on their way to dominating our top 10 credit hedge fund return table after an upbeat month -
Ucits at a glance: CIFC nears positive 12-month returns
3 years ago
Ucits funds have started 2021 on a quiet note as 72% of funds achieved a positive return -
Credit Rendezvous: heading for homes
3 years ago
Fund managers in structured credit, real assets and distressed are bullish on the prospects for residential housing in 2021. Elsewhere, niche royalty-based strategies are in favour and although a CLO repricing wave is expected, it may not be easy to execute resets. For more, read our 13-page quarterly report on credit. -
Fund performance: Almost a third of credit funds reach positive YTD returns
3 years ago
July has been a successful month for many credit funds, despite the recovery peaking in May and June -
Fieldwood slips into second bankruptcy as CLOs hold $314 million
3 years ago
CLO managers hold $314.5 million of oil and gas drilling company Fieldwood Energy, which filed for Chapter 11 bankruptcy yesterday for the second time in two years -
CLO managers push for deeper triple C buckets
3 years ago
CLO managers in the US have launched a concerted effort for greater flexibility on their triple C test limits since the coronavirus-triggered sell off in March -
Beneath the triple C: downgrade rate slows as $8 billion of CLO loans tumble
3 years ago
May offered some respite to CLO portfolios as corporate downgrades to triple C were reduced heavily - affecting just $6.67 billion of US CLO paper and €1.09 billion of European CLO portfolios -
Akorn falls into bankruptcy with $321 million planted in CLOs
3 years ago
CLOs hold $321.3 million of specialty pharmaceutical company Akorn’s debt, according to the latest trustee reports from CLO-I, with the firm having filed for chapter 11 protection in the US District Court for the District of Delaware yesterday -
Beneath the triple C: mighty CLO buckets from Akorns grow
4 years ago
Rating agencies went on a downgrading spree in February, with Moody’s and Standard & Poor’s cutting 20 corporate names to triple C or below – affecting $2.78 billion of paper in US CLOs and €316.6 million in European CLOs. -
European CLO PM rumoured to be joining CIFC from large asset manager
5 years ago
CIFC Asset Management looks to have made a major breakthrough in its bid to establish a European credit business with the $17 billion asset manager rumoured to be hiring the head of European performing credit at a large global credit firm -
US CLO head exits RBS ahead of move to top CLO manager
9 years ago
The head of US CLO origination at RBS, Matt Andrews, is said to have left the bank ahead of a move to a leading CLO manager -
Mid-market lender makes high profile hire from CIFC
9 years ago
It has been a period of high turn-over for one particular middle-market lender, which has looked to remedy the loss of several senior officials with a top hire
23 results found Showing page 1 of 1
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