- Direct lending (9)
- Emerging markets (1)
- High yield bonds (6)
- Investment grade credit (3)
- Structured credit (16)
- CLO (5)
- Distressed debt (1)
- Credit derivatives (10)
- Leveraged loans (11)
- Marketplace lending (1)
- Real assets (1)
US loan trading: Sinclair loans dominate the airwaves as CLOs tune in3 days ago
Sinclair Broadcasting Group and Diamond Sports – both subsidiaries of issuer Sinclair - worked their way into CLO portfolios in July, with 91 managers purchasing $1.42 billion of the loans in July
Prepayments pose reinvestment dilemma for CLO managers14 days ago
CLO managers globally could be left sitting on piles of cash amid an uptick in loan prepayments. Standard & Poor’s reported that institutional US loan prepayments had hit $26 billion in July, and more recently some widely-held CLO names are set to return principal to lenders, with financial data provider Refinitiv US Holdings and Italian telecom operator Wind Tre taking this route.
Credit traders' kickstand: Europe ascendant as high yield pipeline returns17 days ago
The high yield bond primary market grinds back into gear this week just as European credit reaches an extreme point of outperformance over the US, and comes on the back of Europe’s busiest week of investment grade issuance in 18 months
Europe and US diverge on covenant lite structures20 days ago
Direct lending is syphoning away traditional loan supply
Direct lenders brace themselves for distressed opportunities1 month ago
Credit managers are launching distressed vehicles with a twist by narrowing their focus down to the direct lending market.
Direct lenders accused of exaggerating terms in lender education1 month 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.
Borrowers promise to pay penalty if they breach ESG targets1 month 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.
UK direct lending deal flow picks up with 99 deals in H1, finds GCA Altium1 month 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
ResponsAbility closes impact securitisation at $175 million2 months ago
ResponsAbility, a Zurich-headquartered impact assessment manager, has closed a $175 million securitisation of loans to microfinance and SME-finance providers in emerging markets
Upper mid-market yields value on price and leverage2 months ago
Direct lenders are getting access to greater deal flow in the upper middle-market with private equity sponsors leaning towards private credit after a torrid end to last year in the broadly syndicated loan market.
UK transitions to post-Libor era with array of Sonia-linked deals2 months ago
The UK’s structured finance market has moved to swiftly embrace the daily compounded benchmark Sonia (Sterling overnight index average) ahead of the 2021 phase out of Libor.
WhiteRock's Dolfino: "PE deal flow is down, deal sizes are up and spreads are compressing" [video]2 months ago
WhiteRock Capital Partner's Gustavo Dolfino talks to Creditflux's Michelle D'souza after his M&A presentation at the Creditflux Debtwire US Mid Market Forum
European loan trading: CLO managers snack on Ifco loans2 months ago
35 CLO managers were holding €364.2 million €364.2 million of IFCO’s loans in April – all at par
Natixis prices second muni-project securitisation of year2 months ago
Energy Efficient Equity (E3) priced its inaugural 'property-assessed clean energy' (Pace) deal today via Natixis
Arrival of five-year bespokes draws in CLO investors3 months ago
Synthetic bespoke tranches are undergoing a major shift, with dealers projecting five-year business to supersede previously dominant shorter tenors by the end of 2019.
High beta's time to shine in next leg of rally, says BAML4 months ago
High-beta credits have yet to reward expectations they would lead the market rally in 2019, but this is about to change, according to a research note by Bank of America Merrill Lynch
Index tranche levels spike as investors advance into equity4 months ago
Trading of credit index tranches is picking up, with some $61 billion worth changing hands in the space during the first quarter, according to data from the Depository Trust & Clearing Corporation
Bespoke gains pull CLO buyers as market tipped to hit $100bn5 months ago
Synthetic bespoke issuance could catch up with the more visible CLO market this year, say structured credit specialists
Europe’s ABS market gets over STS road bump with VW deal5 months ago
After months of waiting, Europe’s securitisation market saw the first ever deal to be structured as a Simple, Transparent & Standardised (STS) securitisation.
Regulation stifles SRTs, but banks and investors revel in quarter-four outperformance6 months ago
Over the course of 2018 there was roughly €6.5 billion of issuance in the market for significant risk transfer (SRT) deals, sources say, with the last three months understood to be the busiest quarter on record
Ares and GSO carry unitranches over €1 billion mark6 months ago
Flush with cash, European direct lending managers have finally passed the milestone one billion unitranche mark this quarter
Trups CDO spreads shift wide of late 2018 levels as EJF produces $314 million deal7 months ago
Trups CDO spreads have widened since the end of last year – much like corporate credit spreads – after EJF Investments priced its sixth securitisation of financial company debt.
Spanish bank prices €972 million SRT with triple As paying 31bp9 months ago
Cajamar Caja Rural, based in southern Spain, has priced a €972.1 million significant risk transfer (SRT), according to market sources
European loan issuance set to decline in 2019, says Moody's10 months ago
The outlook for European leveraged loan issuance remains strong for next year, according to report by Moody’s, although levels will depend on M&A activity
Kartesia invests in equity of 2018 European CLO10 months ago
Kartesia has invested in the equity of KKR’s latest European CLO
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