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CLOs set to be poisoned as Peabody's canary goes belly up
8 years ago
In this metaphor, the canary is Peabody's 2022 second lien loan. -
Valeant goes in search of a remedy with loans in danger of covenant breach
8 years ago
Painkillers won't do - large loan issuer Valeant Pharmaceuticals is going to need something stronger as it looks to stave off a possible default -
Retail investors feel the pain as German mid-market defaults soar
8 years ago
The collapse of one of the biggest borrowers in Germany's smaller company bond market has cast doubt on the future of the €10 billion mittelstand bond market -
Verso default triggers CLO 2.0 market's first OC breach
8 years ago
A 2013 CLO US CLO has become the first post-crisis deal to trip an overcollateralisation test, according to CLO-i -
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 -
Loan sell-off not justified by fundamentals, says Highland's Okada
8 years ago
“We're in an environment where investors are far more distressed than their investments,” said Okada at a round table event last week -
Loan holders hit out at Paragon bankruptcy plan
8 years ago
Holders of Paragon Offshore term loans, which are widely held by CLOs, have vehemently opposed the company's bankruptcy plans, according to a report by Debtwire -
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 -
CLOs stand to gain from Paragon restructuring
8 years ago
Around 8% of CLOs own Paragon Offshore term loans, according to CLO-i -
Commodities slump claims its latest victim as Noranda is canned
8 years ago
According to CLO-i data, around $210 million of Noranda's 2019 term loan is held in CLOs, with 83 deals holding some exposure to the name. These deals are set to take a hit after Noranda filed for bankruptcy yesterday -
Patriarch steps down from Zohar CLOs ahead of family office conversion
8 years ago
Lynn Tilton's Patriarch Partners has resigned from its role as manager on three Zohar 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. -
Repricing of risk sees 12 loan deals scrapped in Q4, says Fitch
8 years ago
Repricing of credit risk by institutional investors led to a significant decline in leveraged loan issuance in the fourth quarter, according to a report from Fitch Ratings this week -
CLO managers get a paper cut as Verso files for chapter 11
8 years ago
A handful of CLOs will take a hit after paper manufacturer Verso filed for bankruptcy yesterday -
US CLOs take yet another hit as Arch Coal goes up in smoke
8 years ago
Several US CLOs have taken a severe hit after embattled coal miner Arch Coal filed for bankruptcy yesterday -
Fitch predicts 2.5% loan default rate as energy credits run out of steam
8 years ago
US leveraged loan defaults are expected to hit 2.5% in 2016, according to Fitch Ratings -
Pimco and others sue Citi over MBS losses, reports Reuters
8 years ago
Reuters reports that Pimco is among a group of investors suing Citi over losses from mortgage-backed securities -
Default highlights concentration risk in Chinese CLOs, says Fitch
8 years ago
The recent default of China Shanshui Cement Group (CSCG) highlights the concentration risk in Chinese CLO structures, according to an announcement from Fitch Ratings -
Metals and mining loan defaults could hit 25% by year end, says Fitch
8 years ago
Loan defaults in the metals and mining sector could hit 25% by year-end if struggling coal miners Arch Coal and Peabody Energy are unable to stave off bankruptcy, according to research from Fitch Ratings -
Defaults are less than 1% of US CLO portfolios, finds Moody’s Analytics
8 years ago
A new research piece by Moody's Analytics looks into the distribution of the almost $3.6 billion of defaulted collateral held by CLOs -
CLO energy exposure has increased in 2015, finds Barclays
8 years ago
Average energy credit exposure in CLO portfolios has increased this year, according to research published by Barclays. -
Historical loan defaults provide no guide to the future, says S&P
9 years ago
Loans without maintenance covenants have accounted for 66% of leveraged loan issuance so far in 2014, and many are single B -
CLO default rate is 10 times lower than for corporates, says Wells
10 years ago
CLOs have experienced dramatically lower default rates than similarly rated corporates, according to analysis by Wells Fargo -
Equity investors choose to call revived market-value CLO
10 years ago
A notice of optional redemption has been filed for a market value CLO which earlier in its life withstood an event of default -
Tribal debt holders bet on federal law
10 years ago
Mashantucket Pequot bond holders’ surprise choice suggest suggests there is still everything to play for at Foxwoods
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