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Fitch raises European default rate assumptions with loans in tougher spot than bonds
1 year ago
Analysts at Fitch Ratings have raised their base-case leveraged loan default rate for end-2023 in Europe to 4.5% from 3.5%, and their severe-case rate to 6% -
CLO spreads are not pricing in recession: JP Morgan
1 year ago
CLOs are priced fairly for a growth slowdown but not a recession, according to JP Morgan credit strategists, who warn spreads are at risk if US growth contracts -
Beneath the triple C: CLOs take first knock since covid scrapes
1 year ago
CLO managers have been hit by a number of loan downgrades to triple C for the first time since the wave of pandemic-related cuts trickled to a halt in early 2021. Companies indirectly linked to the health sector suffered most in May -
CLO refi and reset volumes surge with $2.3 billion priced on Friday
2 years ago
CLO refi and reset volumes surged on Friday with $2.3 billion priced across the US market, according to market sources. Brigade Capital Management, MidOcean Credit Partners and New Mountain Capital reset regular-way CLOs, Blackstone Credit scored a regular CLO refi, Sculptor Capital Management refinanced a bond-heavy CLO, and Ivy Hill Asset Management reset a middle market CLO -
Romark returns with second bond-flex CLO
2 years ago
Romark Credit Advisors has issued its second bond-heavy CLO following its debut in the asset class last year -
Anchorage refis mezz tranches of twin CBOs
2 years ago
Anchorage Capital Group has refinanced the mezzanine debt tranches of two of its CBOs -
Beneath the triple C: 13 CLO loans take a dive but defaults subside to a ripple
3 years ago
22 corporate debt issuers were downgraded to triple C or below in November and December by Moody’s or S&P, out of which 13 can be found in CLO portfolios – hurting $4.55 billion of US CLO loans, €1.87 billion of European CLO portfolios and almost $80 million of middle market CLOs loans, according to CLO-i -
It's all relative: Euro CLO mezz rallies to follow month-long IG/HY compression
3 years ago
European credit suffered this week with Brexit talks between the UK and the EU dragging on and both sides conceding that a trade deal is unlikely to be reached by Sunday’s deadline. But European CLO tranches have held up reasonably well with mezzanine spreads tightening by almost 13% in December -
Europe leads corporate credit rally, but US outperforms in CLOs
3 years ago
iTraxx Crossover has been the CDS market's outperformer this week, tightening over 30 basis points, or 11.4%, to trade at 235bp today. But in the CLO market, US deals have come out on top thanks to a BlackRock CLO that priced its double Bs at some of the tightest levels this year -
Brigade prices rare refinancing of bond-flex CLO from 2018
3 years ago
Brigade Capital Management has partially refinanced a debut bond-heavy CLO from 2018 known as Brigade Debt Funding I, marking just the fourth such transaction of 2020 -
Beneath the triple C: downgrade rate slows as $8 billion of CLO loans tumble
3 years ago
May offered some respite to CLO portfolios as corporate downgrades to triple C were reduced heavily - affecting just $6.67 billion of US CLO paper and €1.09 billion of European CLO portfolios -
Beneath the triple C: $31.6 billion of CLO credits feel downgrade pain
4 years ago
March madness took a toll on CLOs as Moody’s and Standard & Poor’s downgraded 4.25% of the portfolios in the US and 1.84% in Europe to triple C or below in just one month (some of these were already triple C rated, only to fall further). -
Till debt us do part: CLOs have and hold David's Bridal loans as they plummet 10.87%
5 years ago
CLOs hold $26.63 million exposure to David’s Bridal, which filed for Chapter 11 bankruptcy on Monday -
Carlyle group's solid Q4 results include $1.7 billion of global credit fundraising
6 years ago
The firm’s fourth quarter global credit fundraising of $1.7 billion included four CLOs, follow-on closes in their new private BDCs, structured credit fund, and managed accounts -
GreensLedge and Natixis unite again to arrange debut CBO for NY manager
6 years ago
A New York-based manager has entered the CBO market for the first time, pricing a $408.1 million transaction via GreensLedge and Natixis -
MidOcean confirms hire of marketing duo from CIFC
7 years ago
MidOcean Partners has confirmed that it has hired Spencer Potts as head of business development and Ruth Lane as head of investor relations -
BlueMountain distressed head leaves after fund struggles, says Bloomberg
7 years ago
Bloomberg reports that BlueMountain’s head of distressed debt strategies, Ethan Auerbach, is leaving the firm after the fund significantly underperformed. -
Messina sues BAML over pay and alleges illegal CLO trading practices
8 years ago
Megan Messina, the co-head of structured credit at Bank of America Merrill Lynch, has filed a lawsuit against the bank -
Pimco replaces Gross with structured credit official
9 years ago
Pimco announced on Friday that structured credit specialist Daniel Ivascyn has been promoted to chief investment officer after the shock exit of Bill Gross earlier in the day -
Boston manager's new CLO on the block prices via StormHarbour
10 years ago
StormHarbour Securities last priced its first CLO of the year in a $414 million deal -
LA manager hires high yield veteran ahead of pension fund showdown
10 years ago
A veteran of the high yield bond market has joined Bradford and Marzec in Los Angeles according to web postings -
KKR credit head hands in resignation
10 years ago
Private equity giant KKR has announced that its head of credit investments, William Sonneborn, is resigning -
Head of US CDO trading ends 12 year stay at dealer
11 years ago
The head of secondary US CDO and CLO trading has left a major bank, well placed sources say. -
Capital surges into European credit ETFs
11 years ago
The past week has seen a surge in the amount of capital invested in European high yield and investment grade credit ETFs
24 results found Showing page 1 of 1
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