- Direct lending (40)
- Emerging markets (3)
- High yield bonds (24)
- Investment grade credit (5)
- Structured credit (24)
- CLO (1767)
- Distressed debt (1)
- Credit derivatives (13)
- Leveraged loans (38)
- Marketplace lending (2)
- Real assets (7)
Euro CLO spreads could tighten further as Spire targets 105bp triple A print16 days ago
Spire Partners is looking to bring Europe’s CLO market even tighter as it readies a reset of its inaugural deal named Aurium CLO I
Direct lenders brace themselves for distressed opportunities17 days ago
Credit managers are launching distressed vehicles with a twist by narrowing their focus down to the direct lending market.
- A key CLO triple A investor dropped back from the market in the second quarter of 2019, but, remarkably, CLO spreads tightened as repricings came back and other investors drove demand17 days ago
Euro CLO managers ditch Moody’s as negative views rise17 days ago
European CLO managers have begun turning against Moody's as it has rapidly increased the number of loan issuers it has placed on negative outlook.
Rival manager’s warehouse contributes to new CIFC US CLO17 days ago
CIFC Asset Management has had a productive year after pricing four new issue US CLOs but sources say that the manager’s latest deal, CIFC Funding 2019-IV, owes a lot to another CLO manager.
Modern Woodmen log move into US senior CLO paper17 days ago
Modern Woodmen of America, one of the largest fraternal benefit societies in the US, has emerged as a major investor in senior CLO notes, according to market sources.
Chenavari double debt tranche CLO warehouse reduces up-front cash call17 days ago
Chenavari Investment Managers used a novel approach to warehousing its last European CLO, according to market sources. The firm priced Toro European CLO 6 on 12 July via Morgan Stanley, with sources indicating that the warehouse facility behind the deal had two debt tranches.
CRE CLO issuance beats 2018 totals17 days ago
After a 12.5% increase in year-on-year first quarter issuance, the first half of 2019 turned up the heat with a 30% year-on-year increase to $9.1bn in CRE CLO issuance, according to Kroll Bond Agency.
They said it: "They are finally picking up the phone and making use of their rolodexes"17 days ago
Bankers have been forced to reconnect with the broader triple A CLO buyer base now that Norinchukin Bank has stepped back, says a US CLO equity investor.
Points up front: Cap wearer plays trump card in support of SRT17 days ago
Such has been the success of Donald Trump’s “make America great again” caps that structured credit folks have started sporting their own versions. Santander’s Jeremy Hermant has been seen in the streets of London proudly wearing a cap with the motto “make SRT great again”. Hermant works in the significant risk transfer team and tells Creditflux that he has been campaigning for SRTs for the past few years.
Points up front: Benefits of being unethical17 days ago
Investing ethically is increasingly becoming part of a credit manager’s mandate, with environmental, social and governance (ESG) strategies all the rage.
Direct lenders accused of exaggerating terms in lender education17 days ago
Sources say that some direct lenders in Europe are submitting standard indicative lender terms with limited or no internal discussions with their respective credit committees.
US CLOs thrive as managers embrace secondary loan market17 days ago
Leveraged loan issuance is supposed to feed and keep CLOs healthy, but a 62% slowdown in US loan volumes this year was accompanied by average CLO equity distributions ticking 19% higher.
Borrowers promise to pay penalty if they breach ESG targets17 days ago
Loan investors are incentivising companies to improve their environmental, social and governance (ESG) performance by linking the financial terms of a loan to the ability of the borrower to meet predetermined sustainability targets.
- US loan issuance has fallen dramatically this year, but many thirsty investors found liquidity in the secondary market or took advantage of plentiful high yield issuance in a record quarter for bonds
UK direct lending deal flow picks up with 99 deals in H1, finds GCA Altium17 days ago
While loan volumes in the UK were much higher than expected, activity in Germany was lower compared to H1 last year, according to the GCA Altium MidCap Monitor Q2 2019
GSO prices tightest European CLO of 2019 with syndicated triple As18 days ago
GSO Capital Partners priced the tightest European CLO of the year yesterday with weighted funding costs 177.27 basis points over Euribor
Zais prices new CLO with record five classes of fixed-rate debt19 days ago
Zais Group has priced a new issue CLO via JP Morgan that issues five classes of debt paying fixed rates of interest
PineBridge refi shows steep term curve in European CLO market19 days ago
PineBridge Investments has refinanced its 2016 vintage CLO named Euro Galaxy V, according to market sources
Bain prices new CLO with triple As 6.91bp tight of 10-day average19 days ago
Bain Capital Credit priced its latest CLO offering, scoring the second tightest triple A print of the month
Hayfin prices new CLO as European 2.0 volumes break monthly record20 days ago
Europe’s CLO volumes reached a post-crisis monthly record on Friday as Hayfin Capital Management priced its latest new issue bringing July volumes to €5.21 billion
Voya cuts 35bp off 2016 CLO's funding costs following refi20 days ago
Voya Alternative Asset Management has refinanced a 2016 CLO, cutting its funding costs by 35.01 basis points in the process
Anchorage's 2019 volumes pass $2.5 billion as it prices US CLO20 days ago
Anchorage Capital Group on Friday priced its latest CLO offering named Anchorage Capital CLO 11 via Wells Fargo
HPS scores tightest print on Friday as CLO volumes soar20 days ago
HPS Investment Partners stood out from the pack on Friday with some of the tightest debt execution on a day in which a huge $2.89 billion CLO paper was brought to market in the US
Steele Creek prices tight of the market with second new CLO of 201920 days ago
Steele Creek Investment Managers has priced its latest new issue CLO, with the triple A notes printing tight of the market at 136 basis points
Want all the latest news, comment, analysis and data?