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CLO market round-up: holiday cheer hits as US senior spreads move in
4 months ago
The holiday period saw a brace of end-of-year US deals pricing, with a range of new issues, resets and a refi to lead the market into 2024, and senior spreads move firmly back in the 160s. -
How worried should we be about defaults?
5 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 -
Canadian venture capital lender secures USD 150m for tech-focused private credit fund
5 months ago
Vistara raised fresh capital for its strategy of lending between USD 10m and USD 30m to mid-to-later-stage software companies across North America -
Seasoned US CLO managers have added value, but not much, according to our research
5 months ago
Our latest research looks into one aspect of active CLO management - how much alpha managers are actually generating. According to our findings, US CLO managers have been successful in adding some value for their investors. -
Resignation of Texas bankruptcy judge David R Jones raises potential for vacating prior rulings in legacy cases
7 months ago
Debtwire's full breakdown of the situation explains all the details of a resignation that threatens chaos for both active and historic restructurings, including cases like J.C. Penney and Neiman Marcus -
Hamilton Lane secures USD 290m for two private credit funds
7 months ago
Two funds raised by Hamilton Lane will be used to provide loans to lower middle-market companies in New York State -
Credit impact fund surpasses $100 million target close
7 months ago
The fund targets companies that support social and environmental causes in Africa, Asia and the Americas -
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. -
Testing the water: issuers gauge sterling HY bond demand following 10-year record low
7 months ago
Pure Gym, a UK-based fitness club, has become the second company in a week to test demand for sterling-denominated senior secured notes in the European high-yield market -
ABS spreads hold up in spite of September issuance deluge, while CLOs soften
7 months ago
Trading activity in European ABS has slowed down, as the market absorbs one of the busiest months for issuance for years -
Do resets help CLOs perform better?
8 months ago
As the market for CLO resets opens, we look at the performance of deals that were previously reset, and find they soon deliver higher distributions than those deals that were not reset -
Brazilian distressed fund gains investor attention internationally
9 months ago
International investors continue to take note as Brazil's Jive Investments raises roughly half a billion dollars for fourth vintage of distressed and special situations fund. -
Axa Investment Managers beefs up staff with two senior credit hires
9 months ago
Axa Investment Managers hires portfolio manager on emerging markets and fixed income team, while also naming new head of private finance- alternative credit. -
Last frontier: Common currency conquers non-Eurozone countries to dominate lev loan market
9 months ago
Our latest DebtDynamics EMEA research shows that the share of the European leveraged loan syndication market denominated in the EU common currency jumped from 80% in 2015 to levels closer to 95% since 2019 -
Question your assumptions
10 months ago
Valuing CLO paper is complicated, and loan prepayments are one of the trickiest parts. When pricing a new issue CLO, the market generally assumes that 15-20% of loans will prepay their principal annually. This prepayment rate is important because it essentially determines the pace at which a CLO’s rated debt is paid off after the reinvestment period, when the CLO pays down its own principal. -
Medalist Partners doubles size of private credit fund in final closing round
10 months ago
Medalist Partners enters final closing stages of its most recent private credit fund, nearly doubling the size of capital commitments from previous funds. -
Two more credit firms explore US CLO management
11 months ago
Two US credit shops, headquartered in Greenwich and Boston, are the latest to explore launching US CLO management platforms, according to multiple sources. One has also launched a CLO fund. -
CLO co-head parts ways with Accunia
1 year ago
One of Accunia's CLO portfolio managers is understood to have parted ways with the firm last month -
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 -
Natixis hires loan trading head in New York
1 year ago
Natixis has hired Chad Hersch as managing director responsible for its loan trading platform -
Deutsche Bank European CLO head leaves as bank lines up high profile replacement
1 year ago
Deutsche Bank has reshuffled its European CLO desk, with several sources indicating its head of European CLO new issue has parted ways with the bank. Simultaneously, the bank have made a senior hire -
Carlyle liquidates European CLO warehouse as Credit Suisse exposure drops to zero
1 year ago
Carlyle Group has become the latest European CLO manager to liquidate its warehouse with Credit Suisse, according to sources, leaving the bank with no European CLO warehouse exposure -
Managing director leaves US CLO trading role at Goldman Sachs
1 year ago
An experienced US CLO trader has parted ways with Goldman Sachs in New York, according to market sources. -
Permira brings in Carlyle European special sits co-head for new business
1 year ago
Permira has strengthened its new strategic opportunities busines -
Onex promotes key CLO official to managing director in London
1 year ago
Onex Credit Partners has promoted its European CLO head
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