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CLO market braces for another wave of loan downgrades
4 years ago
A wave of negative rating actions swept the leveraged loan and CLO market in April. “Companies will look to secure incremental capital which will lead to further rating pressure,” says Philip Raciti, portfolio manager and head of US performing credit at Bardin Hill Investment Partners -
Making arb work of it
4 years ago
In 2019, some CLO managers hoped that good timing would enable them to lock in favourable arbitrage levels, but others opted for aggressive or conservative tactics when building portfolios. -
Post-reinvestment CLO hit by downgrade to Caa3 as warf rises
4 years ago
Moody’s has downgraded the F tranche of Halcyon Loan Advisors 2015-1, a 2015 vintage CLO managed by Bardin Hill Partners, to Caa3 from Caa2 -
Bardin Hill CLO double B tranche downgraded to Caa1 by Moody's
4 years ago
Moody’s has downgraded the class E notes of Bardin Hill’s CLO, Halcyon Loan Advisors Funding 2013-2, to Caa1, the agency has announced -
Philadelphia Energy bankruptcy tars nine CLO managers with $241 million exposure
4 years ago
The Philadelphia-headquartered company has entered into bankruptcy protection for a second time, having only emerged from its first filing in August -
CLO managers process Fusion bankruptcy implications
4 years ago
12 CLO managers hold $185.2 million exposure to the debt of the cloud services company, which filed for Chapter 11 bankruptcy -
Seriously, the CLO arb is difficult right now
4 years ago
We know the arbitrage for CLO equity is never perfect, but the arb progressively deteriorated through 2018. Since January, the picture has worsened further after a brief respite in December -
Ostrum appoints structured credit head as it looks to issue US CLOs
4 years ago
The market has found a plethora of CLO managers looking to expand in Europe, but Ostrum Asset Management has gone the other way by hiring an experienced US CLO portfolio manager -
Spire wins Creditflux Manager of the Year award
4 years ago
Spire Partners was the big winner at Creditflux's Manager Awards last night as the London-based manager scooped the award for the manager of the year. On top of this, the firm picked up awards for Best European CLO Manager and Best European CLO for Aurium CLO II -
European spreads pushed wider with Bardin Hill's new CLO
5 years ago
The transaction has also catered to the growing demand for fixed rate notes -
Bardin Hill markets first European CLO under new branding
5 years ago
Formerly known as Halcyon Capital Management, Bardin Hill Loan Advisors is marketing its first new issue CLO since rebranding its platform last year -
Creditflux reveals finalists for most competitive Manager Awards ever
5 years ago
To compile the shortlist for the annual Creditflux awards, we select the best performers in credit using a combination of detailed, data-driven metrics. The winners will be announced on 8 May -
BNP Paribas runs up Bardin Hill's first new issue CLO since rebranding
5 years ago
Bardin Hill Investment Partners, formerly known as Halcyon Capital Management, has priced its first new issue CLO since rebranding -
Bardin Hill gets down to business with first CLO transaction since rebranding
5 years ago
Bardin Hill Investment Partners, formerly known as Halcyon Capital Management, has priced a $434 million CLO refi of a 2015 vintage CLO under the Halcyon moniker -
Halcyon resets 2016 European CLO with unusual capped triple A notes
5 years ago
Halcyon Loan Management has reset its 2016 deal Halcyon Loan Advisors European Funding 2016 via Citi -
Halcyon returns to CLO market to price its first deal of the year
5 years ago
Halcyon has priced its first transaction of the year following a $485.5 million new issue -
Halcyon refinances 2015 US CLO with triple As pricing at 90bp
6 years ago
Halcyon Loan Advisors has become the latest manager to take advantage of relatively cheap financing available in the US CLO refi market -
JP Morgan looks to price $1bn of short-dated CLO paper for CSAM and Halcyon
6 years ago
JP Morgan is looking to cash in on demand for short-dated CLO paper by pricing over $1 billion within the next week, according to market sources -
Halcyon prices its second European CLO of the year
6 years ago
Halcyon Loan Advisors has priced its second European CLO of 2017 -
Halcyon markets its fourth European CLO
6 years ago
The manager is expecting to price its second European CLO of the year on 17 November -
Halcyon prices its second CLO transaction in two days
6 years ago
Fresh from launching a new CLO with BNP Paribas this week, Halcyon has turned its attention towards refinancing a 2015 deal -
US manager prices its first new issue CLO with BNP Paribas
6 years ago
A large US loan manager has teamed with BNP Paribas on a CLO for the first time -
CSAM and Morgan Stanley pioneer new US CLO template
6 years ago
Credit Suisse Asset Management priced a new US CLO late on Friday and in the process the firm introduced a new take on the standard CLO structure - the CLO features a five-year reinvestment period and a non-call period of just 18 months -
Junior CLO spreads tighten as Halcyon prices new European CLO
6 years ago
While spreads at the top of the capital structure have edged wide of 90bp in recent weeks, a new Halcyon European CLO indicates there is strong demand for lower-rated notes -
Mizuho wins another client as it prices $451 million CLO refi
7 years ago
Mizuho has secured another new manager client, pricing a refinancing on Friday afternoon
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