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Distress rises in US CLO double Bs — but most have been in trouble for years
14 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. -
RBC arranges two new US deals part two - Wind River 2024-1 CLO
21 days ago
First Eagle yesterday priced its first new-issue deal in 13 months in the form of Wind River 2024-1, a US CLO arranged by RBC -
Elmwood keeps up the pace with its fifth reset this year
27 days ago
Elmwood continued its extraordinarily busy start to 2024 with a short-dated reset of Elmwood CLO X on Friday, a USD BSL deal from 2021 -
Scotia broadens mandate with first new US BSL CLO
1 month ago
Scotia Capital was the sole arranger of Voya's new BSL CLO as it continues to expand in the US market -
Shenkman refis three tranches of 2015 vintage BSL CLO
1 month ago
Shenkman Capital Management has refinanced three tranches of a BSL CLO from 2015. CIBC was the sole arranger of the refi. -
Another 2015 vintage US CLO gets refi
1 month ago
First Eagle has refinanced the top three tranches of a US BSL CLO that debuted in 2015 -
Ares resets half-billion dollar 2021 vintage CLO
1 month ago
Ares Management reset Ares LXI CLO today, a 2021 vintage US BSL deal arranged by Nomura -
Resets keep coming as PIMCO resets 2023 vintage CLO
1 month ago
In the latest in what’s become a reset craze in Q1, PIMCO has reset Balboa Bay Loan Funding 2023-1 -
Muni shop expands into leveraged finance with slew of senior hires
1 month ago
Boutique investment bank Middlegate Securities has announced the formation and launch of Middlegate Global Credit, a new leveraged finance division -
Anchorage resets 2015 vintage CLO once more
1 month ago
Anchorage Capital reset a much-revisited CLO from 2015 last week in a short-dated deal. -
PGIM refinances two tranches of 2017 vintage US CLO
1 month ago
PGIM refinanced its Dryden 54 Senior Loan Fund yesterday, reworking the top two tranches of the pre-Covid era US BSL CLO -
Ares chooses partial refi for giant 2015 vintage US BSL CLO
1 month ago
Ares has issued a partial refi of Ares XXXIV CLO, refinancing the triple A tranche of the 2015 vintage deal -
PGIM kicks off 2024 activity with a 2015 vintage US BSL refi
2 months ago
Industry heavyweight PGIM’s first deal of 2024 took the form of a USD 346.821m refi, priced in conjunction with Nomura -
Reset wave continues with 2018-vintage Palmer Square deal
2 months ago
Palmer Square Capital Management has reset its 2018 vintage Palmer Square CLO 2018-1 deal. Citigroup served as arranger of the deal. -
Permira confirms co-heads of credit platform
3 months ago
European alternative credit manager Permira Credit has named David Hirschmann and Ariadna Stefanescu as co-heads, effective immediately, as parent company Permira makes plans to expand the credit business -
CLO market round-up: holiday cheer hits as US senior spreads move in
3 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?
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 -
Canadian venture capital lender secures USD 150m for tech-focused private credit fund
4 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
6 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
6 months ago
Two funds raised by Hamilton Lane will be used to provide loans to lower middle-market companies in New York State -
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. -
Do resets help CLOs perform better?
7 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 -
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.
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