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THL trading gains flow to equity on first payment date
8 years ago
THL Credit Advisors' 2015 CLO, Wind River 2015-2, has recorded an impressive first payment to equity, according to CLO-i -
Negative cash introduces market price risk to euro CLOs, finds Fitch
8 years ago
Fitch Ratings has observed an increasing number of European CLOs running negative cash balances, according to a report published yesterday. Creditflux readers will already be familiar with the strategy, which we reported on earlier this month. -
Par building may not be enough to cure CLO test breaches, finds Nomura
8 years ago
Par building by CLO managers may not be enough to stave off the impact of recent defaults on overcollateralization test buffers, according to a research note from Nomura -
Manager redeems 1.0 CLO after treating American HomePatient
8 years ago
Highland Capital Management has redeemed a legacy CLO, according to market sources. The redemption comes shortly after Highland's sale of American HomePatient to Munich-based technology firm Linde Group -
Silvermine's junior CLO notes suffer downgrade to triple-C
8 years ago
Silvermine Capital Management has had several outstanding CLO tranches downgraded by Moody's, following a wave of energy-related loan downgrades. However, the deals have made strong recent equity distributions -
CVC redeems another 2006 deal as legacy CLOs avoid loan sell-off
8 years ago
Another of CVC Credit's legacy CLOs was redeemed at the end of last month, according to data from CLO-i -
1999-style default party could hit CLO triple Bs, says Citi
8 years ago
Low prices mean that CLO mezzanine should make double-digit returns even under scenarios that cause a cashflow interruption -
Tight debt pricing pays off for CSAM as CLO makes huge first payment
8 years ago
A CLO managed by Credit Suisse Asset Management has recorded a near-50% annualised distribution to equity on its first payment date, according to CLO-i -
CVC bids arrivederci to strongly performing legacy US CLO
8 years ago
A 2006 CLO managed by CVC Credit Partners was called late last month after delivering returns of 16.6% -
CLO managers turn negative to boost euro equity returns
8 years ago
Details have emerged of a controversial trading strategy in European CLOs -
Verso default pushes at least one CLO towards test breach, says Nomura
8 years ago
The recent chapter 11 bankruptcy filing by Verso has put one CLO in danger of failing its interest diversion test, according to a recent research note from Nomura. -
BNP Paribas urges investors to call struggling 1.0 European CLO
8 years ago
BNP Paribas Asset Management has contacted investors in its 2003 CLO, Leveraged Finance Europe II, about calling the deal -
Wellfleet CLO equity investors receive early interest payment
8 years ago
Wellfleet Credit Partners' debut CLO has made its first payment to equity three months ahead of schedule, according to an investor letter seen by Creditflux -
Investors set to break even as former GSC euro CLO winds down
8 years ago
A takeover European CLO managed by Pramerica is preparing to make its final payment to equity investors, according to data available on CLO-i. -
Investors vote to call struggling euro CLO
8 years ago
A 2007 European CLO which failed to pay equity investors for six years is set to be redeemed next month, according to an investor notice -
Moody’s research highlights CLOs' industry classification woes
8 years ago
Oil and gas or utilities? According to Moody's Analytics, 60% of loans held by CLOs are reported under two or more different industries -
CIFC winds down 1.0 CLO book as investors call 2006 CLO
8 years ago
CIFC Asset Management's legacy CLO, Columbus Nova 2006-I, will be redeemed next week -
2006 CLO equity position beats price talk by 50 points to trade over par
8 years ago
A legacy CLO which returned 25.3% to equity last year, surprised some in the market by trading above par. A number of dealers had valued the tranche in the 50s. -
Creditflux starts the search to find the credit market's best managers
8 years ago
Creditflux has unveiled the categories for its 2016 Manager Awards and invited asset managers to make submissions -
Takeover CLO managed by CVC set for redemption
8 years ago
CVC Credit Partners' Sierra CLO II will be redeemed later this month -
Golub tops ranking of CLO par builders as most OC ratios slip
8 years ago
The continued decline in loan prices has taken its toll on CLO portfolio values in recent months -
Static older CLOs outperform 2.0 deals in terms of loan price
8 years ago
The average pre-crisis CLO is now outperforming its post crisis equivalent – at least in terms of the average price of the assets it owns - according to Wells Fargo -
Credit woes take dramatic toll on CLO equity NAVs, says Citi
8 years ago
The median US 2.0 CLO has seen its equity NAV fall from 50% to 16% since April -
LCM's last 1.0 CLO goes out with a bang as it records impressive final IRR
8 years ago
LCM VI, which closed via Bank of America in May 2007, paid off its liabilities on 30 November. -
Unusual 2012 CLO generates strong returns for junior debt investor
8 years ago
An unusual CLO paying some of the highest coupons in the structured credit market has generated strong returns for its debt investors
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