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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 -
KKR features delayed-draw single Bs in US CLO
3 years ago
KKR priced its fourth US CLO of 2020 last week, taking its deal volume for the year to $1.31 billion in the US and around $2.17 billion globally -
FS and KKR to merge BDCs to create $14.9 billion vehicle
3 years ago
FS Investments and KKR plan to merge their two business development companies into a single vehicle which would have about $14.9 billion in assets -
CLO pipeline: New issuance pause ends as managers look to gain from rallying spreads
3 years ago
It is two and a half weeks since the last US CLO new issue priced, but that is set to change and Bridgepoint’s debut European transaction on Friday brought an end to Europe’s own two-and-a-half-week primary break -
Global b-wic round-up: Europe drifts wider
3 years ago
The CLO secondary market had a robust week with $860 million of US CLO paper and €315 million worth of European CLO bonds listed. But spreads widened off the back of concerns over lockdowns across the globe, the increased risk of downgrades and tomorrow’s US presidential election -
Global CLO b-wic round-up: CLO mezz tranches widen amid macro concerns
3 years ago
Last week was busy for the primary European CLO market but not for secondary, with €1.35 billion of new issue European CLOs priced across four transactions but just €190 million of European CLO paper listed in b-wics -
78-item b-wic hits market as European CLO spreads dislocate
3 years ago
A mammoth 78 item European CLO b-wic totalling €130.7 million is on sale today at 9am New York time (2pm UK time) and is rumoured to come from an investor liquidating its portfolio -
CLOs hold €250 million of defaulted French events organiser Comexposium
3 years ago
CLOs hold €246.1 million of French events organiser Comexposium, which entered safeguard protection in the Commercial Court of Nanterre on Wednesday -
Global CLO b-wic round-up: CLO lower mezz tightens while equity investors strive for duration
3 years ago
A large supply of CLO paper flooded the secondary market last week as $1.5 billion of US CLO bonds and €370 million of European CLOs were listed, according to CLO-i -
Global CLO b-wic round-up: dealers get involved amid rally, but dispersion persists
3 years ago
The CLO secondary markets returned to form last week with $716.2 million of US CLO bonds and a further €306.5 million of European CLO paper listed. Although for both markets over half of the total volume listed came from Thursday’s scheduled b-wics -
KKR prices its first new US CLO since January
3 years ago
KKR has priced its first new issue US CLO post-covid, after teaming with Credit Suisse to issue the $450.75 millon deal named KKR CLO 30 -
European CLO portfolio overlap increases by 3%: S&P
3 years ago
European CLO portfolio overlap for new issue deals since mid-March has increased to 37.73%, according to a recent report by S&P, around 3% higher than the average of 36% for all European CLOs rated by S&P -
Details emerge on nature of Revlon payment 'error' and lender attitudes
3 years ago
Fresh details have emerged on the nature of the ‘operational error’ Citi says took place when it transferred $900 million to Revlon loan holders -
KKR targets sub-debt and ABS with latest private credit fund
3 years ago
KKR is preparing to launch its third mezzanine private credit fund, dubbed KKR Private Credit Opportunities III -
Global CLO league tables - July 2020 YTD
3 years ago
Global CLO league tables - July 2020 YTD -
KKR closes CMBS risk retention fund at $950 million
3 years ago
KKR has held a $950 million final close on its risk retention real estate debt fund, KKR Real Estate Credit Opportunity Partners II -
LP round up: horseshoe does the trick for Pimco and other distressed managers
3 years ago
Institutional investors poured $2.7 billion into credit this week through 14 managers, according to board documentation seen by Creditflux -
Four managers join forces on gigantic £1.9 billion unitranche
3 years ago
The supersized transaction to Ardonagh Group, led by Ares, is the largest ever unitranche facility -
OC health check: slowing of downgrades offers some reprieve for CLOs stuck in breach
3 years ago
89 deals reported overcollateralisation breaches last week, but only seven of these deals were breaching any OC test for the first time, according to the latest reports available on CLO-i -
LP round-up: Champaign pension raises a glass (or bucket) to private credit
3 years ago
Institutional investors allocated over $600 million to 11 managers this week, according to board documentation seen by Creditflux -
Euro CLO league tables: fresh faces emerge with new deals
3 years ago
May was a month of fresh faces as three new managers entered the ring for the first time in 2020 -
CBAM readies debut European CLO
3 years ago
CBAM is marketing its first ever venture into the European CLO market with a deal named Vendome Funding. The Eldridge Industries-backed CLO manager is expected to price the transaction this week, via JP Morgan -
Fitch takes action on eight European CLO tranches
3 years ago
Fitch Ratings has revised to negative the outlook on six sub-investment grade tranches from three European CLOs, placed one triple B rated tranche on negative rating watch and downgraded its double B-rated tranche -
Europe’s newcomers find ways to stand out
3 years ago
Last year’s new European CLO managers needed to provide something different for investors. In general, they’ve succeeded, with Capital Four having one of the smallest overlap figures in our data -
KKR raises $4 billion for coronavirus dislocation credit strategy
3 years ago
KKR has collected $4 billion to invest across credit opportunities in eight weeks– including $2.8 billion in its KKR Dislocation Opportunities Fund and over $1.1 billion from managed accounts
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