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Real estate is about to get real bad: Welshcake
1 year ago
The extent of disconnect between real estate and what other markets have been experiencing is enough to convince me a whole other layer of economic mayhem is on the way. But investors in credit, for all their current pain, could still end up shining if they are prepared -
Oaktree prints new US CLO while Deerpath resets mid-market deal
1 year ago
The US CLO market has added to its June transaction tally, with Oaktree Capital pricing a new issue while Deerpath Capital Management reset a 2018 vintage mid-market deal -
ICG breaks CLO market silence with first US deal of 2022
1 year ago
Intermediate Capital Group looks to have been the manager to restart new CLO issuance after this week's brief primary market pause, bringing its first US deal of the year -
Credit Rendezvous: Pass masters
1 year ago
Most often, a credit market downturn has its roots mired in one big, blatant obstacle that credit managers have to focus their attention to overcome. But right now, it’s not the dominant risk factor that has to be defeated, it’s the sheer number of them... -
CarVal ties in climate landmark with first CLO of 2022
2 years ago
CarVal CLO Management highlighted ESG criteria as it brought its first CLO of the year - and also the first since the firm's buyout by AB -
Anchorage leapfrogs up CLO league table with first bond-flex deal of year
2 years ago
Anchorage Capital moves back into the top 20 US CLO managers in 2022 by volume, having priced its first bond-flex deal of the year -
PGGM partners with Polish bank for landmark SRT
2 years ago
PGGM has closed what it claims to be the largest securitisation in central and eastern Europe through a PLN 9 billion ($2.08 billion) SRT -
Carlyle brings first new US CLO of 2022
2 years ago
Carlyle has priced a $407 million US CLO named 2022-1, its first new deal and second overall CLO transaction of 2022 -
High stakes promise big year for new short-dated CSOs
2 years ago
The bespoke tranche market looks set to put in revitalised issuance numbers in 2022 as interest grows in structured assets. But a clear trend is emerging for investors to assume short-dated exposure amid increasing macro and geopolitical uncertainty -
AB targets software companies after niche securitisation
2 years ago
Deutsche Bank priced an unusual securitisation for AB last month. The deal accommodates the manager’s expertise in the software and technology sector -
Zais scores first for new issue CLOs under Sofr regime
2 years ago
Zais Group has priced what sources say could be the first five-year new issue broadly syndicated loan reinvesting CLO issue of 2022 -
First Euro CRE CLO points to likely growth market
2 years ago
CRE CLOs have been identified as a likely growth market in Europe following the successful pricing of the first transaction on the continent, according to sources -
CVC shakes up structure with Apidos CLO reset
2 years ago
CVC has reworked the capital stack of a US CLO it signed last year, with a reset that shaves pricing but also shifts the size of tranches -
Voya cuts CLO costs across stack with 2019 reset
2 years ago
Voya has reset a US CLO it printed in 2019, slightly increasing the size of the deal and shaving the price of every debt tranche in the capital structure -
CLO extremes will do well in '22 but mezz needs caution: BNP Paribas
2 years ago
The extreme parts of CLOs' capital structures will offer best value in 2022, but investors should be cautious on mezzanine tranches and consider hedges, say BNP Paribas strategists -
Sculptor chisels fixed rate tranches into CLO with reset
2 years ago
Sculptor has reset a US CLO it signed in 2017, cutting the size of the overall debt stack but adding fixed rate tranches -
Muzinich adds UK and Ireland institutional sales head
2 years ago
Muzinich & Co has hired a head institutional sales for the UK and Ireland -
AlbaCore raises CLO head to partner in raft of promotions
2 years ago
AlbaCore Capital Group has promoted its top CLO specialist to partner and portfolio manager -
Goldman hires veteran CLO structurer to boost US business
2 years ago
Goldman Sachs has hired a well known CLO structurer to its operations in New York -
CLO lower cap stack will outperform with $175bn new issuance in 2022: JP Morgan
2 years ago
Equity and lower rated tranche investors will do best as $175 billion of global new CLO issuance arrives in 2022, predict JP Morgan strategists in their annual outlook, taking market size to $1.2 trillion -
Brigade bolsters 2019 US CLO with refi
2 years ago
Brigade Capital Management has refinanced debt tranches of a US CLO it signed in 2019, tightening the capital stack -
Ex-Citi structured products co-head launches crypto investment firm
2 years ago
Citi's former structured products trading co-head has launched a venture investment firm for crypto companies, digital assets and blockchain protocols with an inaugural $1.5 billion multi-strategy venture -
Loans will be winners in bearish year for credit: BNP Paribas
2 years ago
Floating rate loans are best positioned for a year of widening credit spreads, but high yield bonds will outperform investment grade and EM credit is set for losses, says BNP Paribas in its 2022 outlook -
Anchorage closes in on US CLO top 10 with bond-flex issue
2 years ago
The contest between managers for US CLO new issuance league table standing this year has tightened, with Anchorage Capital bringing a bond-flex deal that moves it closer to 10th placed Neuberger Berman -
CLO issuance set for big slump as managers relax on Sofr: JP Morgan
2 years ago
CLO new issue supply will likely decline sharply from this month to next, with the rush to complete deals ahead of the transition to Sofr base rates having added to November's historical heavy weighting over December, say JP Morgan structured credit strategists
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