Refine Search
Article Categories
Strategy Tags
- Direct lending (2)
- Emerging markets (1)
- High yield bonds (8)
- Investment grade credit (3)
- Structured credit (23)
- CLO (329)
- Distressed debt (1)
- Leveraged loans (47)
- Synthetic/SRT (5)
- ABL Financing (1)
Geography Tags
-
Octaura's real-time trading solution paves way for loans and CLOs to drop illiquid tag
1 year ago
The unprecedented cooperation between CLO trading desks that culminated last week in the launch of Octaura could change the way credit investors judge the relative value merits of loans and CLOs versus liquid alternatives such as high yield bonds -
US loan market drops to record low for 2022
1 year ago
The loan market reached a new record low for the year on Thursday with the S&P/LSTA Leveraged Loan Index trading at an average bid of just 93.66 cents on the dollar -
European secondary volumes rise through ups and downs
1 year ago
Europe’s secondary CLO market has been boosted by elevated supply as primary issuance trickles amid market volatility. Sources indicate that around €370 million of paper appeared on b-wics across the capital stack in each of the first two weeks of May. -
Let's play the Great CLO B-wic Price Drop
1 year ago
When CLO liquidity is weak, sometimes you have to take matters into your own hands. That's what happened last week as part of a novel auction set up by a CLO investor -
SMBC brings in experienced CLO trader after departure
1 year ago
SMBC Nikko has filled a gap on its CLO trading desk -
Loan dip brings longest CLO primary pause since January
1 year ago
CLO primary business has been put on pause as the market grapples with a selloff in loans, meaning no new transactions have been issued so far this week -
Accunia seeks diversification with Euro CLO equity fund
2 years ago
Accunia Credit Management’s first fund geared predominantly to secondary European CLO equity has been launched with a view to ensuring better diversification across managers and vintages, according to portfolio manager Christian Grane -
CLOs look attractive after corporate rally - but not all tranches: Barclays
2 years ago
Rallying corporate cash credit spreads over the past two weeks have widened the basis with CLOs and made these products look attractive again, according to Barclays strategists -
CLO prices drop under weight of massive secondary volumes while CDS rallies
2 years ago
CLO spreads have underperformed versus liquid credit instruments in the past week after a massive $2.3 billion of paper hit the secondary US CLO market. But that could create opportunities for investors. -
European loans stumble after bright start to 2022
2 years ago
Jitters around inflation, interest rate hike expectations and escalating geopolitical tensions in Russia/Ukraine have created softness in the European leveraged loan market -
CLO sellers bide their time amid widening Ukraine crisis
2 years ago
Russia’s invasion of Ukraine has sent shockwaves across the world, and CLOs, despite limited exposure to either country, have felt its impact. Those signs are most visible in the secondary market -
Banks join fight against slow loan settlement in mini-win for CLOs
2 years ago
Several developments are in the works to tackle painfully slow loan settlement times in Europe, with Goldman Sachs, JP Morgan, Clifford Chance and the Loan Market Association among the firms looking to drive change -
Global CLO trading lab: Payments season prompts equity to surge but short-dated bonds trade low
2 years ago
Over the last two weeks, $2.8 billion of US CLOs and €640 million of European CLO paper have appeared on b-wics, with equity making up 33% and 40% of the respective markets -
CLOs and loans find footing as post-Sofr trends emerge
2 years ago
The US leveraged loan and CLO markets transitioned to a new base rate from 1 January without the lengthy issuance pause that was widely predicted in the months leading up to the switch -
Former Wells Fargo CLO researcher joins Credit Suisse in New York
2 years ago
A former CLO and ABS researcher at Wells Fargo has joined Credit Suisse as a CLO trading desk strategist in New York -
HalseyPoint keeps Libor-linked CLO notes after digital refinancing
2 years ago
HalseyPoint Asset Management has cut the funding costs of its 2020 CLO named HalseyPoint CLO II, managing to keep the notes linked to Libor by selecting a digital dutch auction to reprice the notes -
CLO pricing holds up against omicron as liquid credit takes a hammering
2 years ago
Being illiquid sometimes has its advantages, with the CLO market the picture of serenity as CDS swings imply volatility is afoot -
CLO lower cap stack will outperform with $175bn new issuance in 2022: JP Morgan
2 years ago
Equity and lower rated tranche investors will do best as $175 billion of global new CLO issuance arrives in 2022, predict JP Morgan strategists in their annual outlook, taking market size to $1.2 trillion -
Experienced CLO official joins GreensLedge in the US
2 years ago
GreensLedge has hired an experienced CLO official as a managing director -
Treasury desk lists $818 million b-wic as hedge fund looks to offload control CLO equity in bumper day
2 years ago
State Street once again listed over $800 million of US CLO triple A bonds on Tuesday, having sold $834 million of triple A paper last month -
Sofr transition timing puts CLO debt and equity at odds, says BNP Paribas
2 years ago
CLO investors look to have tough conversations ahead on the structure implications of the transition from Libor to Sofr, with BNP Paribas strategists noting CLO debt will benefit from an early move while equity tranches would do better to wait -
Long duration high yield will overcome short-term rates carnage, says BofA
2 years ago
Bonds with inflation-protected real yield, longer duration, and especially those in the utilities sector are among the most compelling trades amid a phase of ‘policy paranoia’, according to Bank of America credit strategists -
Global CLO trading lab: bank sells $834 million triple As in quarterly reallocation as hedge fund trades CLO equity
2 years ago
Thursday’s secondary CLO market was the busiest of 2021, with over $1 billion of US CLOs on offer. This featured an enormous b-wic worth $834.3 million, where sources have told Creditflux of the bank behind the aucton. While a large credit hedge fund is said to have sold out of control CLO equity -
Three control CLO equity blocks trade, including rare CIFC deal with ultra-low funding costs
2 years ago
Three US CLO anchor equity positions traded Tuesday courtesy of one b-wic at 9.30am New York time -
Banks reject mandates amid loan surge as settlement lengthens
2 years ago
M&A bankers are turning down mandates and settlement times for US loan trades are extending as understaffed desks struggle to cope with record deal volumes
Want all the latest news, comment, analysis and data?