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Z Capital refinances triple-C-heavy CLO
2 months ago
Z Capital Credit Partners has priced a partial refinancing of a 2021-vintage US BSL transaction with a larger-than-typical triple C bucket -
Santander brings Z Capital to market for first time since 2021
7 months ago
Santander arranged a significant deal on Friday, pricing Z Capital Partners’ first primary market foray since 2021 -
What matters is what you do with it
1 year ago
CLO managers yearn for flexibility so they can take advantage when credit sells off. But it isn’t enough on its own: triple C-flex CLOs saw portfolios erode this year, while CBOs outperformed -
Credit funds at a glance (May 2022)
2 years ago
A round up of fundraising and people moves in credit
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Z Capital makes three senior leveraged credit hires including CLO specialists
2 years ago
Z Capital Credit has hired three directors to its investment team -
Past returns: Ellington invents triple C-flex CLOs
2 years ago
Five years ago, Creditflux reported that Ellington Management was launching a US CLO business -
$1 billion CLOs refinanced as Carlyle, Carlson and Z Capital print deals
2 years ago
Over $1 billion CLO refinancings priced on Friday after three managers took to the primary market to refinance deals -
TriMark court ruling encourages peace between lenders
3 years ago
Many CLO managers breathed a sigh of relief in August, with one source indicating a recent court case decision sent a “clear signal that the spate of lender-on-lender violence in the leveraged loan market will not remain unchecked” -
Key CLO official earns promotion to managing director at Z Capital
3 years ago
Z Capital Group has promoted two members of its investment team in New York, including a central figure on its CLO management platform -
Global CLO pricing lab: let’s all point at that 108bp print while spreads leak out
3 years ago
The tsunami of CLO paper coming to market is the biggest technical factor causing spreads to widen, according to sources -
US CLO league tables: CIFC makes big leap but CSAM and JP Morgan retain leads
3 years ago
There has been no change atop the US CLO league tables, but Credit Suisse Asset Management’s and JP Morgan’s leads are dwindling -
Z Capital prints first post-covid CLO with elevated triple C bucket
3 years ago
Z Capital Credit teamed up with Amherst Pierpont on Friday to print the first new high-triple C CLO post-covid -
CLO pipeline: queue gets longer as Blackstone goes again and Sancus makes first move
3 years ago
The queue to price for US CLO managers is only getting larger with 18 new issue CLOs in the pipeline, according to market sources, along with 18 repricings and two new issue European CLOs and two mid market CLO resets -
New faces revive old partnership as Z Capital launches triple C-flex CLO
3 years ago
A US CLO is set to market a revival for both manager and arranger with Amherst Pierpont and Z Capital Partners joining forces once again on a triple C-flex deal -
CLO pipeline: US market on track for June boom
3 years ago
CLO issuance is set to boom in the coming weeks with the pipeline ballooning as the market looks ahead to June -
Z Capital hires from DFG and CVC
3 years ago
Z Capital Group has added loan specialists from CVC Credit Partners and DFG Investment Group in New York -
Beneath the triple C: CLOs get their sneakers on as retailers run into bankruptcy
4 years ago
July added further relief to CLO portfolios with the slowest rate of downgrades to triple C since March. US CLO portfolios faced downgrades of $2.18 billion to triple C while European portfolios faced just €59.13 million of such downgrades -
Z Capital adds to credit team with Garrison official
4 years ago
Z Capital Group has hired a former Garrison Investment Group official as a director and member of the firm’s credit investment team -
Loan slump brings managers closer
4 years ago
A 19% slide in new US loan volumes last year has left CLO managers with fewer options in the primary market, and portfolio overlap between US managers has increased to 35.3% on average -
OC health check: some CLOs cure failures, but quarter of US deals still in breach
4 years ago
117 deals failed over-collateralisation tests in the last week, although only 46 of these were deals reporting breaches for the first time, according to the latest reports available on CLO-i -
Flex CLOs tap mass downgrades to fill big triple C buckets
4 years ago
CLO managers are being hampered by the sheer volume of corporate credit downgrades to triple C, leaving the small cluster of triple C-flex CLOs to capitalise -
OC health check: failures lift above 100 as five more deals breach senior test
4 years ago
Another 116 CLOs have breached their overcollaterisation tests in the last week, according to the latest trustee reports on CLO-i. Out of this, five deals have failed OC tests for all classes – bringing the overall tally of deals that have breached senior OC tests to nine. -
Beneath the triple C: $1 billion of CLO credits take a dive
4 years ago
$957.9 million worth of loans held by CLOs suffered downgrades to triple C last month, with a further $442.1 million of existing triple C credits getting knocked lower still, according to the latest trustee reports on CLOi. -
Clover bankruptcy leaves print marks on CLOs
4 years ago
CLOs hold $256 million of the debt of printing supply company Clover Technologies Group, which filed for Chapter 11 bankruptcy on Monday -
Enhanced CLOs are no more enhancing than run-of-the-mill distressed funds
5 years ago
Triple C-heavy CLOs that try to time the market may be paying for options they never use
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