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Man hires real estate loan specialist from JP Morgan
4 years ago
Man Group has hired an investment director to its European private debt team -
CLO supply set for double-digit drop in 2020, says JP Morgan
4 years ago
US CLO supply in 2020 will be as much as 20% down on 2019, while European issuance will fall 13% year-on-year, predict JP Morgan strategists in a research note. Even so, new CLOs should still outpace existing deal paydowns, as well as high yield primary market net new issuance -
BlueMountain prices first new issue US CLO for five months
4 years ago
BlueMountain Capital Management has priced its first new issue CLO since May, according to market source -
Reality bites after credit traders abandon Brexit hedges
4 years ago
Rediscovered faith in the ability of the UK and European Union to reach an agreement before the 31 October Brexit deadline has helped fuel a surge tighter of credit spreads, led by UK financial names. But that break with caution faces an immediate reality check today, following admissions a lot more work is needed -
Benefit Street prices $507.85 million US CLO
4 years ago
Benefit Street Partners priced its second new CLO of the year on Thursday, according to market sources -
BlackRock brings triple A spreads back to 130bp with new US CLO
4 years ago
BlackRock has priced its latest new CLO named BlackRock XXIII, scoring the tightest triple A print for three months -
AGL makes US CLO market debut via JP Morgan
4 years ago
The world welcomed a new CLO manager on Friday as AGL Credit Management priced its first ever transaction, named AGL CLO I -
US CLO league tables: CSAM climbs to the top
4 years ago
Only $10.9 billion was brought to the US CLO market last month, while in the middle market CLO space, no deals priced. But Credit Suisse Asset Management dared venture into the primary market and as a result it moves to the top of the league tables -
CLO pipeline: newcomers look to impress at debutante ball
4 years ago
The pace of CLO issuance accelerates with each passing week, with debutantes lining up to join more prolific managers as Europe builds momentum and the US floodgates open -
New CLO manager Fort Washington markets debut transaction
4 years ago
Fort Washington Investment Advisors is marketing its first ever CLO, named Fort Washington CLO 2019-1 -
MacKay Shields prices first ever euro CLO
4 years ago
The European CLO market welcomed another new manager on Friday as MacKay Shields issued its first ever deal via JP Morgan -
Trinitas refinances 2017 CLO without renewing its call-lock
4 years ago
Trinitas Capital Management on Friday refinanced two tranches of its 2017 deal Trinitas CLO VI, according to market sources -
Park Avenue prices two CLOs in same year for first time
4 years ago
Park Avenue Institutional Advisers yesterday priced its second CLO of 2019, marking the first time the manager has priced two new issues in one year since establishing its platform in 2016 -
Two managers market their first ever European CLOs
4 years ago
Two CLO managers are in the process of marketing their inaugural European CLOs to investors, according to market sources -
Fort Washington joins growing list of prospective new CLO managers
4 years ago
Fort Washington Investment Advisors is looking to set up a CLO management business, Creditflux has learned -
Go long CLO triple-A and pick cash bonds over CDS, says JP Morgan
4 years ago
Going long European CLO triple A paper remains one of JP Morgan strategists’ favourite trades following the European Central Bank stimulus announcement last week, despite these tranches having rallied 14bp on average since the bank first backed them. They also predict cash credit to outperform CDS -
Revived CLO manager Gulf Stream begins warehousing as its team count hits 10
4 years ago
The reborn Gulf Stream Asset Management, led by CLO veteran Mark Mahoney, has begun warehousing its comeback CLO after making a couple of hires -
AGL pre-markets debut US CLO
4 years ago
AGL Credit Management is getting its US CLO issuance programme underway less than six months after being formed -
Euro CLO league tables: back to earth in tandem as issuance nosedives
4 years ago
August brought just €1.12 billion of issuance in the European CLO market across two refinancings and one reset, the quietest month since January when only €0.51 billion of European CLOs priced -
Pretium returns with first CLO of the year amid personnel changes
4 years ago
Pretium Credit Management yesterday returned to the CLO primary market with its first transaction of 2019 -
Buy iTraxx Europe equity tranche risk but sell Crossover mezz, says JP Morgan
4 years ago
Investors should stick with ‘search for yield’ ideas in investment grade credit, say JP Morgan credit strategists, including selling iTraxx Europe 0-3% equity tranches delta hedged, going long the 10-year Europe index, and selling credit volatility through index options while buying equity market volatility -
US CLO league tables: JP Morgan narrows gap to Citi in new issues to $50 million
4 years ago
July saw $14.9 billion of issuance in the US CLO space with $9.4 billion of that in new issue CLOs. One of the transactions brought to the market was Whitebox Capital Management’s debut CLO, Whitebox I. -
Nochu's CLO holdings up 8% in Q2 while JP Morgan buys even faster
4 years ago
Norinchukin Bank’s CLO portfolio grew another 8% in the second quarter to JPY 8 trillion ($74.12 billion) by 30 June, according to the bank’s latest quarterly report which was released today -
Zais prices new CLO with record five classes of fixed-rate debt
4 years ago
Zais Group has priced a new issue CLO via JP Morgan that issues five classes of debt paying fixed rates of interest -
Index tranches and Sub Fin basket among top picks after ECB meeting, says JP Morgan
4 years ago
The European Central Bank’s statement that rate cuts will likely be paired with tiered deposit rates suggests a boost for the iTraxx Sub Financials index, as well as tier two and additional tier one bank bonds, says JP Morgan in latest credit research. The bank also advocates selling iTraxx Europe 0-3% tranches delta hedged
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