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How many CLOs will be called this year?
2 months ago
Most CLOs are called when loan market prices are high. Distributions and equity NAV are also important, and they suggest that over 30 2017 and 2018 deals are now ripe for redemption -
The wall is coming down
6 months ago
Refis and extensions have greatly reduced the height of the maturity wall looming over European CLOs in the near term — but, further out, WAL test cushions remain critical -
Do resets help CLOs perform better?
8 months ago
As the market for CLO resets opens, we look at the performance of deals that were previously reset, and find they soon deliver higher distributions than those deals that were not reset -
We’re drifting apart
2 years ago
Everyone’s issuing US CLOs these days and it is tempting to believe the crowd of managers is blending into one. However, overall portfolio overlap has dropped to 37.7% across 2021 CLOs -
Refi deluge casts shadow on b-wics
Refis and resets are cutting CLO lifespans short, which means there is less need to sell in the secondary market. Still, there are relative value opportunities in IG bonds and equity tranches2 years ago -
Still plenty more fish in the triple C
US CLO triple C buckets are lighter than a year ago thanks to the wave of loan upgrades from Moody’s and S&P. But 48% of downgraded paper is yet to return to a coveted single B rating2 years ago -
Relative value plays swell secondary
3 years ago
The secondary CLO market has been revived this year as volumes shatter 2019 totals. Investors are finding that secondary values outweighs that in primary, with the added bonus of full portfolio disclosure -
Trading places: it can pay to bet on the little guy
3 years ago
It’s assumed investors know how good a CLO manager is by the rate at which they trade their way through a crisis. But this time fi ve small, nimble managers are outperforming the market -
Spread decline makes style vital
6 years ago
It’s not the number of CLOs you manage, it’s how you manage them: with 62 US firms pricing CLOs this year, managers are keen to stand out from the crowd -
Leading fund: Lupus Alpha CLO Opportunity Notes I
6 years ago
Single-B CLO trades boost Lupus Alpha asset Management -
A quarter of living dangerously
8 years ago
After a desperate start to 2016, CLO issuance recovered in March as loan prices rallied – but collateral values are still deteriorating
11 results found Showing page 1 of 1
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