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Beneath the triple C: Stormy October hits CLOs with rising tide of downgrades
1 year ago
After a slight respite in the pace of downgrades over the summer for CLOs, October brought renewed momentum as macro-economic pressures - primarily high interest rate burdens for corporate borrowers and supply side inflation - became the recurring rationale -
Beneath the triple C: April showers send buckets overboard
4 years ago
Downgrade waves rocked the CLO market in April as Moody's and Standard & Poor's downgraded 135 corporate borrowers to triple C or below, from ratings above that level. The downgrades put CLOs in rough waters as $41.6 billion of such loans are prevalent in US CLOs while €5.64 are moored in European CLO portfolios – affecting 5.92% of the US market and 4.37% of the European market -
Euro loan trading: CLO managers find a home for building specialist's downsized loan
4 years ago
CRH Europe issued a €700 million term loan B in November, which was downsized from €900 million. But still, it has proved popular with CLO managers with CLO-i indicating that CLOs bought €275.2 million of the loan -
CLO managers cash in their chips as Caesars trade pays off
4 years ago
Caesars Entertainment was the most sold issuer in June with $158.8 million of its term loan sold out of CLOs. -
US loan trading: CLO managers on cloud nine after Ultimate Software allocations
4 years ago
CLO managers took down about 27% of Ultimate Software's loans in April, when the cloud operator issued its $2.3 billion first lien term loan due 2026, according to CLO-i
5 results found Showing page 1 of 1
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