Refine Search
Article Categories
Strategy Tags
- Direct lending (5)
- Emerging markets (1)
- High yield bonds (8)
- Investment grade credit (3)
- Structured credit (1)
- CLO (8)
- Distressed debt (3)
- Leveraged loans (13)
- Synthetic/SRT (7)
Geography Tags
-
ESG initiatives should avoid unfavourable reactions by pursuing substance over form
5 months ago
By any financial measure, the collaboration of trans activist Dylan Mulvaney with Bud Light hurt the brand. What was formerly America’s best-selling beer saw its market share collapse — from over 35% in May 2023 to around 9% in June — because of a boycott by US conservatives after a 60-second TikTok video aired of Mulvaney drinking it. -
“Pension fund managers should look to take advantage of a rare opportunity in corporate CDS”
1 year ago
The October sell-off in gilts highlights a glaring lack of exposure to CDS -
"This ‘higher rates for longer’ saga is more like the 1920-21 depression than the 1970s high inflation era"
1 year ago
Sometimes you have to swallow your medicine and take a step back to go forwards -
"Extreme volatility can push BSL yields close to mid market levels, although that trade never lasts"
1 year ago
The two segments of the loan market are on different paths as mid-market volumes rise -
"It’ll take something special to drag my attention away from Depp/Heard, but Jerome Powell could just do it"
2 years ago
It’s not easy letting go of the past, but May heralds the start of something new in credit -
"The loan market is the septic tank for sub-single B LBO financing"
2 years ago
Portfolios of single name IG CDS are less complex and more liquid than CLOs -
"How CLO managers optimise the value of reorg equity is one of the most important unasked questions"
2 years ago
Getting the most out of reorg equity could be the difference between a good CLO and a great one -
CLO naysayers have made arb and cov-lite into dirty words — that should now change
3 years ago
Recent performance has shown that cov-lite loans and challenging arb don’t spell doom for CLOs -
Perhaps 2021 will be the first year of the next expansion
3 years ago
For 2021, our columnist is focused on Libor transitions, CLO flexibility and loan managers fighting among themselves -
The cost — a few basis points — is modest compared to the potency of bond buckets
3 years ago
If CLOs had bond buckets when Delta Air Lines issued debt, a manager could have bought the bond then rotated into the loan -
Gaining exposure to US IG credit through the index means giving up about 10% of potential value
3 years ago
A bespoke portfolio of IG credits can take advantage of the skew between indices and single names -
If you’re not finding black talent, you’re not trying hard enough
3 years ago
In the past few weeks, it has been easy to put up our billboards and tweet our condemnation of the treatment of black people. Now we need to change the way companies work -
Past returns: GoldenTree CLO trades over par
3 years ago
Five years ago we reported that the equity in a GoldenTree 1.0 CLO was in demand, despite the threat that its position could be marked down to zero -
Past returns: From zero to $7.6 billion in five years
4 years ago
Five years ago in Creditflux we reported that Angelo Gordon was planning to move into US direct lending. Shortly after that the firm created a middle-market subsidiary known as Twin Brook Capital Partners and drafted in Trevor Clark and Chris Williams to lead the venture after the pair had left Madison Capital in 2013. -
There’s pain to come for those who have become too greedy
4 years ago
Stephen Catling of Connection Capital takes our credit quiz -
Being fully invested can have a greater impact on IRRs than avoiding 2% defaults annually
4 years ago
The IRR differential can be as much as 3.3% for a fully invested CLO versus one that maintains a 5% cash balance -
Being the only provider in a deal allows us to be closer to the company
5 years ago
Tikehau's Cécile Mayer-Lévi takes our credit quiz -
Points up front: Favouritism - that’s the long and short of it
5 years ago
The rift between Sound Point Capital Management and its former portfolio manager Jeff Teach highlights some of the difficulties managers face when overseeing multiple funds with both competing and similar interests -
Points up front: Creditflux makes significant SRT call
5 years ago
They were once referred to as regulatory capital relief trades (or reg-cap trades), but now no one can agree on what to call them -
Points up front: Cooperman takes advice from Kenny Rogers
5 years ago
Last month news emerged that Omega Advisors founder Leon Cooperman was converting his multi-billion dollar hedge fund into a family office.It wasn’t fatigue or performance issues driving the 75-year-old to retirement (Omega’s flagship fund is said to have delivered double-digit returns in 2017), but rather American country singer Kenny Rogers. -
Private credit investors will be stuck with their positions
6 years ago
Brandywine’s Gary Herbert takes our credit quiz -
Points up front: fund seeking wage slave
8 years ago
One credit hedge fund in New York has taken a novel approach to recruitment -
We must learn to trade credit on an exchange
8 years ago
Sound Point's Steve Ketchum takes our credit quiz -
Grabbing the last points of illiquidity premium is a trap
8 years ago
Renaud Champion from La Française takes our credit quiz -
The promise and pitfalls of permanent capital
9 years ago
Business development companies are a nice string to a loan manager's bow. But they shouldn't rely on them
Want all the latest news, comment, analysis and data?