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Stunning January rally means CLOs are back in business
1 year ago
Longtime observers of the CLO market tell Creditflux they have “never seen the market move so quickly” after a rip-roaring January saw a spectacular rally in both loans and CLO debt. -
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 -
Revlon spares no blushes for CLO managers in filing for Chapter 11
1 year ago
Troubled lender Revlon Consumer Products filed for chapter 11 bankruptcy late Wednesday night. The default is likely to have a weighty impact on the CLO market -
Three US CLOs join growing list of deals to default
2 years ago
Another three US CLOs have the ignominy of having their tranches downgraded to D, taking the total list of 2.0 CLOs to default to eight. Before August 2021, 2.0 CLOs had a clean record according to S&P ratings -
HPS resets 2017 CLO bought from Bardin Hill
2 years ago
HPS Investment Partners has reset and upsized a 2017 CLO it acquired from Bardin Hill Investment Partners in 2021 -
The Last Tranche with Bardin Hill's Raciti: For-profit prisons are classified as construction and have some of the best ESG scores
2 years ago
In this episode of the Last Tranche, Bardin Hill's Philip Raciti tells Creditflux that environmental, social and governance (ESG) is a growing risk factor for CLO managers -
Bardin Hill prints first new CLO with Jefferies as arranger
2 years ago
Bardin Hill Investment Partners teamed up with Jefferies on Friday to print its first ever CLO arranged by the bank -
European CLO weekly volume passes €4 billion as HPS resets former Bardin Hill deal
2 years ago
European CLO weekly volume rose to over €4 billion on Friday, with HPS Investment Partners rounding off the week -
Credit investors seek alpha as delta variant creates volatility
2 years ago
The leveraged loan and private debt markets have been on a tear for the first half of the year, but analysts are forecasting a more volatile six months ahead -
HPS reworks Bardin Hill European CLO for first time since acquisition
2 years ago
HPS Investment Partners has refinanced a 2019 European CLO formerly managed by Bardin Hill -
Bardin Hill refinances triple A notes of 2017 CLO to 108bp
2 years ago
Bardin Hill Investment Partners refinanced the triple A notes of Halcyon Loan Advisors Funding CLO 2017-2 on Monday -
BofA reveals top CLO managers through covid by market value and distributions
3 years ago
Bank of America's research desk has highlighted eight CLO managers with the best performance statistics through the covid-19 crisis, based on market value change and interest distributions -
Refis price on top of new issues as four managers print US CLOs
3 years ago
Four US CLO refinancings priced yesterday, giving the impression that CLO pricing is fitful and the term curve flat -
Bardin Hill sells European CLO business to HPS with head Snyder set to retire
3 years ago
Bardin Hill Investment Partners has sold its European CLO platform to HPS Investment Partners -
Bardin Hill CLO attaches double Bs low and drops A tranche
3 years ago
Bardin Hill Investment Partners has returned to the US CLO primary market with its first new issue transaction since November 2018, and the deal is not without its quirks -
Details emerge on nature of Revlon payment 'error' and lender attitudes
3 years ago
Fresh details have emerged on the nature of the ‘operational error’ Citi says took place when it transferred $900 million to Revlon loan holders -
Citi files lawsuit against nine more lenders over 'accidental' $900 million Revlon transfer
3 years ago
Citi has filed a new lawsuit against nine more asset managers regarding its transfer of $900 million to Revlon lenders, which Citi says was made mistakenly. The bank is looking to claim the money back against lenders -
CLO managers push for deeper triple C buckets
3 years ago
CLO managers in the US have launched a concerted effort for greater flexibility on their triple C test limits since the coronavirus-triggered sell off in March -
OC health check: all quiet on the overcollateralisation front
3 years ago
Eight US broadly syndicated loan CLOs reported overcollateralisation test breaches last week during a quiet reporting period in which only 40 CLOs published a trustee report, according to CLO-i, but focus is turning to the swathe of CLO distributions coming due. -
Moody's downgrades three tranches of 2017 vintage European CLO
3 years ago
Moody's has downgraded three tranches of a 2017 vintage CLO managed by Bardin Hill -
Moody's downgrades first CLO tranche from Caa3 to Ca
3 years ago
Moody's has downgraded three tranches of Halcyon Loan Advisors Funding 2014-1, with the class F notes rating dropping from Caa3 to Ca, the rating agency announced today -
Moody's downgrades three tranches of 2017 European CLO with negative cash
3 years ago
Moody's has downgraded €66.9 million notes of a 2017 vintage CLO managed by Bardin Hil -
OC health check: second European 2.0 CLO reports junior OC breach
3 years ago
33 deals reported overcollateralisation (OC) breaches last week in a relatively quiet reporting period. 314 deals are now reporting OC breaches as of the latest report, according to CLO-i. -
OC health check: some CLOs cure failures, but quarter of US deals still in breach
3 years ago
117 deals failed over-collateralisation tests in the last week, although only 46 of these were deals reporting breaches for the first time, according to the latest reports available on CLO-i -
Negative cash deal becomes first European CLO to fail OC test since sell off
3 years ago
260 US CLOs have failed an over-collateralisation test in the last two months and the first European CLO has breached a junior over-collateralistion since the credit sell off in March
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