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Ares reissue gets a refi
2 days ago
Another (arguably) 2013 vintage CLO came back to the market on Friday in a refinancing of a 2018 reissue -
KKR resets 2021 vintage BSL deal
5 days ago
KKR has reset KKR CLO 29, a vanilla deal from 2021, breaking the triple-B notes into two classes in the process -
US CLO refinances with 110bps senior spread
5 days ago
Spreads on US refis hit a new yearly tight on Friday, when KKR refinanced one of its 2013-vintage deals -
Elmwood resets 2021 vintage US CLO
9 days ago
Elmwood Asset Management this week priced its second transaction in seven days, hot on the heels of its new issue at the end of last week -
New Ares CLO keeps pricing tight
10 days ago
The fourth Ares CLO of 2024, a new issue US transaction valued at USD 406m, priced this week, with the senior triple-As at 150bps over SOFR -
Third time's the charm as 2013 vintage CLO gets reset
11 days ago
Oak Hill Advisors priced a third restructuring of one of its 2013-vintage deals on Tuesday -
Distress rises in US CLO double Bs — but most have been in trouble for years
17 days ago
Despite the limited impact of the Altice debacle on the European market (as explored in our cover story), stress is building in some older US CLOs. The robustness of the CLO 2.0 structure has carried the market through a variety of crises, but now a number of junior tranches in US BSL CLOs are either defaulted or impaired. -
Relative to Airbus, Boeing was long accountants but short engineers
17 days ago
A qualitative approach can help investors spot boards that are too focused on short-term returns -
Oak Hill and BofA reset 2017 vintage US CLO
2 months ago
Oak Hill Advisors became the latest manager this year to reach back into the pre-Covid era, last week pricing a reset arranged by Bank of America -
European CLO primary spreads still have a long way to go
3 months ago
Are European CLO spreads in the primary market cheap or expensive? Our latest research shows that while US managers can celebrate AAAs reaching the 150s, in Europe spreads still have a long way to go to reach historical norms. -
How worried should we be about defaults?
4 months ago
As defaults in the US loan market continue to stack up, we investigate the fallout for CLO investors by focusing on the OC tests of double B tranches across 10 years of US CLO vintages -
European CLOs win out against US deals
7 months ago
Last month, our analysis explored the performance of US CLOs that were previously reset. We found that they delivered higher distributions than deals which weren’t reset, with the exception of the 2017 and 2018 vintages (Creditflux September 2023 — Do resets help CLOs perform better?). This article expands that analysis to the European market, and compares the performance of US BSL and EU CLO equity tranches. -
IIG Global Trade Finance Fund lawsuit targets CLO trustee and noteholders, alleging they reaped gains from fraud that cost fund USD 190m
7 months ago
IIG Global Trade Finance Fund launched an adversary proceeding in the US, seeking to hold certain noteholders along with the CLO trustee liable for benefiting from a Ponzi-like fraud scheme by IIG -
Mount Street taps Dechert exec for client development role
7 months ago
The European-headquartered third-party loan servicer and credit asset manager is expanding Stateside. -
Bond-backed buyouts balloon as loan yields hit astronomical levels
10 months ago
Issuers tapping public syndication for leveraged buyouts have turned to the high-yield bond market in recent months, where levels of activity are impressive considering the current shortage of new money issuance. -
May 2023 US Leveraged Highlights
10 months ago
Leveraged investors continue to favor bonds to loans, according to the Debtwire May 2023 US Leveraged Highlights, featuring key trends in the leveraged loan and high yield bond markets. -
WhiteStar absorbs yet more CLO contracts
1 year ago
WhiteStar Asset Management has underlined its status as one of the leading acquirers of CLO platforms in recent times -
Fund performance: European CLO funds lead the way
1 year ago
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January -
CLO industry consortium to tackle Miami Triathlon in aid of cancer charity
1 year ago
A group of CLO industry specialists led by MidOcean Credit Partners' managing director Jamil Nathoo will participate in the Miami Triathlon next month to raise money for charity -
Ivy Hill climbs back into CLO market after Natixis plants mid-market deal
1 year ago
Ivy Hill Asset Management is back with its first middle-market US CLO in two years -
Canadian bank moves into US CLOs after Natixis raid
1 year ago
The destination of the four senior members of Natixis's CLO team has been revealed -
Former Zais CLO portfolio manager joins Sancus
1 year ago
Sancus Capital Management has hired a CLO business development head and portfolio manager from Zais Group -
Not every CLO can be a winner
The CLO industry has undeniably performed well enough to justify the plaudits it receives. But there will always be some unloved CLO tranches that slip into triple C territory -
Ares senior official joins Vista to lead direct lending
1 year ago
Vista Credit Partners has appointed an experienced Ares official to lead its direct lending efforts -
Plenty more US CLOs in the CCC as buckets pass 5%, finds S&P
1 year ago
US CLO triple C baskets have nudged to 5.02% in November from 4.4% the prior month
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