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It's all relative: Euro CLO mezz rallies to follow month-long IG/HY compression
3 years ago
European credit suffered this week with Brexit talks between the UK and the EU dragging on and both sides conceding that a trade deal is unlikely to be reached by Sunday’s deadline. But European CLO tranches have held up reasonably well with mezzanine spreads tightening by almost 13% in December -
Capital Four prices second European CLO with triple As at 105bp
3 years ago
Capital Four priced its second ever European CLO today named Capital Four CLO II. Barclays arranged the €356.2 million transaction -
All’s well that ends well in 2020 OC tests
Swathes of CLOs failed over-collateralisation tests last year, but unlike the drawn-out recovery following the 2008 financial crisis, the return to compliance after the covid-19 crash was rapid3 years ago -
Credit sell off gathers pace ahead of Brexit crunch day
With both sides in the EU-UK negotiations conceding that trade talks are most likely to conclude on Sunday without an agreement, credit is again a big underperformer today as more longs cut and run while hedging picks up -
CIFC prices tightest four-year euro CLO since covid sell-off
3 years ago
CIFC Asset Management priced the tightest European CLO with four years of reinvestment post-covid on Thursday, teaming up with Barclays to issue the €368.8 million deal named CIFC European Funding CLO III -
AlbaCore generates 55% IRR for new $1 billion dislocation strategy
3 years ago
AlbaCore Capital Group says it generated a 55% internal rate of return on its coronavirus-related European dislocation strategy from March through to November -
Big push wider in high yield as traders cut their longs
3 years ago
Europe's iTraxx Crossover CDS index has given up a big part of its recent rally today, underperforming other indices amid signs traders are closing up books early for the end of the year -
BlueCrest settles SEC charges of favouring internal fund over client capital
3 years ago
BlueCrest Capital Management has agreed to pay $170 million to settle charges related to a fund that managed internal capital -
400 holds $430 million final close on opportunistic structured credit fund
3 years ago
400 Asset Based Term Fund II will invest across structured credit including special situations, risk-transfers, and liquidity premium opportunities in the primary and secondary markets -
Alcentra closes second European strategic credit fund at €557 million
3 years ago
Alcentra has closed its second European strategic credit fund at €557 million -
Candriam and NYL buy stake in European direct lender
3 years ago
Candriam and its affiliate New York Life Investments Alternatives have bought a minority equity stake in a pan-European private debt firm -
Global CLO league tables - November 2020 YTD
3 years ago
Global CLO league tables - November 2020 YTD -
Euro CLO league tables: Barclays heads close race for new issues
3 years ago
Bridgepoint became the fifth European debut manager in 2020 when it teamed up with Barclays to price Bridgepoint CLO I on 13 November. The €301.85 million deal featured triple A notes at 121bp over Euribor, 11bp wide of market tights -
Europcar triggers first credit event in Crossover series 34
3 years ago
Europcar Mobility Group has triggered a failure to pay credit event, the Emea Determinations Committee has ruled -
Arcmont hires Dach business development head from Barings
3 years ago
Arcmont Asset Management has appointed a head of Dach (Germany, Austria and Switzerland) business development -
Two managers beat 80 others for £660 million multi-asset credit mandate
3 years ago
The UK's Local Government Pension Scheme Central has selected two managers for its £660 million Multi-Asset Credit Fund -
Jefferies hires European CLO structurer from NatWest Markets
3 years ago
Jefferies has added to its burgeoning CLO primary team by hiring a CLO structurer in Europe -
Index sell off hits at start of busy week for primary
3 years ago
Credit is stumbling into the week, with a widening of index spreads that noticeably underperforms stock markets -
No auction needed for Zambia CDS, says DC
3 years ago
Investors will have to physically settle Republic of Zambia CDS as there are not enough contracts outstanding to merit a credit event auction, the Emea Determinations Committee has ruled -
CVC brings in BlackRock and Park Square private credit pair as partners
3 years ago
CVC has made two senior appointments to its private credit team, including a co-head of private credit -
Lower mezz grinds tighter with Blackstone's first European CLO since rebrand
3 years ago
Blackstone Credit has priced its first European CLO since it rebranded from GSO Capital Partners last month. Bank of America arranged the new €323.5 million deal, named Marino Park CLO -
LP round up: Arcmont, Ares and Sixth Street win European direct lending mandates
3 years ago
Investors have allocated around $2 billion to credit funds in recent weeks, according to board documentation seen by Creditflux. Among those to recieve allocations include ADM, Arcmont, Ares, Audax, Bain, Centerbridge, Clearlake, Goldman Sachs merchant banking, Invesco, Monarch, Oaktree, Raven, Sixth Street and Sound Mark -
Europe leads corporate credit rally, but US outperforms in CLOs
3 years ago
iTraxx Crossover has been the CDS market's outperformer this week, tightening over 30 basis points, or 11.4%, to trade at 235bp today. But in the CLO market, US deals have come out on top thanks to a BlackRock CLO that priced its double Bs at some of the tightest levels this year -
ECB stimulus hopes bolster high yield outperformance
3 years ago
Spread compression has picked up again, with European high yield taking the lead as expectations mount for another round of European Central Bank stimulus at its meeting next week -
KKR promotes three in credit team to managing director
3 years ago
KKR has unveiled 26 promotions globally to managing director, including three in credit
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