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US loan index falls below 92 to almost wipe out gains since July
1 year ago
The S&P/LSTA Leveraged Loan Index sank to an average bid of 91.92 cents by Monday, down by two points in as many weeks, wiping out almost all the gains seen in the late-summer market rally -
Boston-based investor looks to sell entire equity tranche of 2020 PGIM CLO
1 year ago
An unusual equity position is on sale on the secondary market today at 9.30am EST (2.30pm London time) as the entire equity tranche of Dryden 83 has been listed -
CLO debt prices imply default rate exceeding forecasts, says Orchard Global
1 year ago
Current pricing of CLO debt tranches implies a default rate that is "far in excess" of the most pessimistic forecasts, according to Orchard Global Asset Management -
Three control CLO equity positions hit market with another to follow
1 year ago
Three anchor US CLO equity positions were listed on the secondary market yesterday in what was a busy day for investors -
Axa IM plots Euro CLO warehouse investment amid loan pressure and possible liquidations
1 year ago
Some European CLO warehouse may face liquidations and there will be further pressure on leveraged loans in the last quarter of the year, according to Axa Investment Management -
Primary US CLO equity more attractive than secondary, says PineBridge
1 year ago
Primary market CLO equity offers better value to investments in the secondary market, according to a new article from PineBridge Investments -
CLO engine sputters as loan recovery hits road block
1 year ago
US CLO issuance suffered a precipitous decline in August as firms struggled to adjust to the new pricing landscape -
Market sentiment shifts as investors turn bullish on loans and CLOs
1 year ago
CLO market sentiment has shifted decisively in recent weeks with investors expressing more optimism than earlier in the year -
Middle market CLOs facing "unexpected headwinds", says S&P
1 year ago
Middle market CLOs are facing 'unexpected headwinds' as their liability costs rise faster than their asset spreads -
"The equity IRRs of enhanced CLOs are nearly all in the bottom decile of the market"
High triple C CLOs sound like a good idea on paper. But in practice, they have not fared well1 year ago -
Ucits at a glance: Ucits see red in a tough June for returns
1 year ago
June marked an exceptionally tough month for Ucits funds, as none of those listed in the Creditflux database made it into the black -
Credit hedge funds (August 2022)
1 year ago
Credit hedge fund returns -
Fund performance: Select funds shine in dreary June for credit hedge funds
1 year ago
Credit funds suffered through June, as only 8% of listed funds reached the black. This made June the fourth month in a row in which negative returns increased -
CLO equity arb gets squeezed but investors eye recovery swing
1 year ago
The CLO equity arbitrage endured a wildly volatile first half of 2022, but observers say the time could be right to buy into the asset class -
Oxford Lane reveals reinvestment goal as it trades over $200 million in secondary CLOs in Q2
1 year ago
Senior officials at Oxford Lane Capital Corp described the firm's second quarter approach to CLO investing on a Tuesday earnings call, revealing trades of CLO equity and junior debt amounting to $237.8 million -
CLO market mood sours amid bitter economic outlook
CLO market participants are privately discussing their concerns regarding the medium-term future of the loan market as the prospects of a prolonged economic downturn mount
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Bridgepoint becomes control equity investor in 2021 CLO after secondary trade
1 year ago
Bridgepoint says it bought an additional 30% equity stake in its third European CLO, Bridgepoint CLO 3, meaning the firm has a majority equity interest in the deal at 61%. The price suggests the CLO is performing well -
History suggests best CLO equity returns come after periods like today's, say Oxford
1 year ago
Research published by Oxford Funds argues that stressed periods in the loan market are typically followed by the best CLO equity returns, suggesting today's vintage of CLO equity could be among the best performing -
Credit Rendezvous: Investors try to avoid suplex city as recession and inflation reform tag-team
1 year ago
Credit investors getting ready to lock up against that familiar 1970s pairing of inflation and recession. But the hard-hitting tag team has picked up some new moves, causing floating rate outperformance to give way to underperformance; synthetic credit to outperform cash; and CLO terms curves to reshape into barely recognisable positions -
CLO counterparties hunt for signs of optimism: SFIG conference
1 year ago
Leveraged loan and CLO investors are hunting for signs of optimism as they face the prospect of a US recession -
European junior CLO debt can withstand downturn without taking principal loss: TwentyFour
1 year ago
European CLO single Bs are able to weather a “moderately pessimistic forecast” in which loan defaults spike to 6.5% for two years, without coming close to taking a principal loss, according to a blog written by TwentyFour Asset Management’s Elena Rinaldi. -
Fund performance: Rocky May piles on the misery for credit hedge funds
1 year ago
Negative fund performance soared in May -
Credit hedge funds (July 2022)
1 year ago
Credit hedge fund returns -
Ucits at a glance: LBBW shines as Ucits take a turn for the worse
1 year ago
Ucits fund returns -
Arcmont says liquid loan opportunities depend on timing as it advocates direct lending instead
1 year ago
Arcmont Asset Management has made the case for direct lending over syndicated loans in a white paper, despite having being an admirer of CLO management platforms
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