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Frontier bankruptcy dials up pressure for 90 CLOs
4 years ago
Nine CLO managers hold $217 million of Frontier Communications’ debt across 90 CLOs, as the telecommunications company filed for Chapter 11 protection in the US Bankruptcy Court Southern District of New York -
US pension to cut long-term private markets pacing plan by 10%
4 years ago
The Educational Employees' Supplemental Retirement System of Fairfax County is considering reducing its 10-year private markets pacing plan commitments by around 10%, according to board documentation seen by Creditflux -
McClatchy whacks out killer headline as CDS pays 98 cents
4 years ago
A month ago, when US newspaper company McClatchy triggered a bankruptcy credit event, sellers of CDS protection may have consoled themselves they were only looking at paying out around 27 cents on the contracts. But yesterday’s credit event auction set the final price at just two, meaning a whopping 98 cent windfall for protection buyers -
McClatchy bonds point to 50 cent CDS pay-out as auction deliverables finalised
4 years ago
McClatchy CDS in on course to pay out around 50 cents, based on cheapest bonds to deliver, after the Americas Determinations finalised five deliverable obligations for the media company’s credit event auction next week -
McClatchy initial list points to 48 cent CDS pay-out
4 years ago
McClatchy CDS looks set to pay out around 47.5 cents to protection holders, if bonds on an initial list of deliverable obligations for the media company’s credit event auction make it to the final list -
Credit traders’ kickstand: weaker mood, but primary drive strengthens
4 years ago
The primary market for high yield bonds is open again, after a pause around the US holiday on Monday, with issues in Europe today from the likes of SIlgan and Catalent striking a bullish tone and setting the scene for an expected flurry of deals next week. But this comes as credit generally weakens, with concerns about the spread and reappraisal of coronavirus cases causing spreads to push back from their recent tights -
West coast pension looks to step up direct lending allocations
4 years ago
The City of Fresno Retirement System will commit $140-160 million to private credit for the next two years, according to board documentation seen by Creditflux. This comes amid a pause in direct lending commitments for the pension fund, which has not committed any capital to this market in 2019 -
Carlyle and PSP join forces for mid market CLO
5 years ago
Middle Market Credit Fund - a joint venture between Canadian pension fund PSP Investments and Carlyle Group - priced its second middle market CLO -
Garrison arms itself with revolver as it prices new mid market CLO
5 years ago
Garrison Capital has priced its second middle-market CLO of the year, and added a revolving credit facility at the triple A level -
Onex prices three-year reset of 2014 CLO
5 years ago
Wednesday was a big day for short-dated CLO issuance, as three deals hit the market with between two and three years of reinvestment totalling $1.3 billion -
York is back in the game with first CLO transaction of 2018
5 years ago
York Capital Management returned to the CLO market yesterday with its first transaction of the year -
CLO triple A financing costs fall dramatically as Ellington extends its debut deal
5 years ago
Ellington Management has teamed up with Citi to reset its inaugural CLO, Ellington CLO I, upsizing the deal by $75 million -
Number of 2017 US CLO managers hits 78 as Guardian Life joins the party
6 years ago
JP Morgan has priced the second CLO to be managed by a New York based manager -
Triple As hit 120bp as PGIM prices its fourth US CLO of the year
6 years ago
PGIM has teamed up with Goldman Sachs to price a $510 million deal -
CBAM brings its 2017 CLO issuance to over $4 billion with latest deal
6 years ago
CBAM priced its third new issue CLO worth $1.3 billion on Friday, according to market sources -
ArrowMark opts for rating to finance CLO vertical slice
6 years ago
ArrowMark Partners has taken the unusual step of obtaining a rating on a loan that it recently issued to support its CLO risk retention efforts -
Boutique US CLO manager prices triple As at 125bp
6 years ago
A firm, which debuted in CLOs back in 2015, seems to have acquired a strong investor following -
Octagon plans its first 40 Act credit fund with 50% bucket for CLOs
6 years ago
Octagon Credit Investors is working on what could become one of the first closed-end fund listings by an alternative credit manager in recent years -
Investcorp prices its "first" US CLO
6 years ago
The Bahrain-based firm has priced its first CLO since acquiring 3i’s debt management division in 2016 -
US manager sees tighter spreads as BAML brings its latest deal
6 years ago
A US manager priced its first CLO of 2017 on Monday according to market sources with tighter spreads than on its previous deals -
Triple-A coupon falls by 31bp as Oaktree resets 2014 US CLO
7 years ago
Oaktree Capital Management has become the latest US CLO manager to reset a deal, after pricing a $454 million transaction yesterday morning. -
CVC prices first US CLO of the year in dual-compliant deal
7 years ago
CVC Credit Partners has priced its first US CLO of the year, according to market sources -
King Street becomes first debut US CLO manager of the year
7 years ago
Hedge fund manager King Street Capital Management has debuted as a CLO manager with the firm pricing a $507 million deal -
Littlejohn affiliate prices first CLO of the year after $50 million upsize
7 years ago
Wellfleet Credit Partners has priced its first CLO of the year, according to market sources -
Saba's lawsuit highlights failings of high yield liquidity
7 years ago
Saba recently settled a lawsuit with a client, which highlights how liquidity can evaporate in the high yield market
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