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Carlyle CLO warehouse investment results in 26.7% return for South Korean firm
4 years ago
A CLO warehouse investment in a transaction managed by Carlyle Group has generated a $1.3 million return for Seoul-based Tiger Alternative Investors, according to a report in The Korea Economic Daily -
CLO managers suffer puncture with $85 million of Jack Cooper debt
4 years ago
CLO managers hold $85.8 million of exposure to auto hauler Jack Cooper Ventures, which filed for Chapter 11 bankruptcy, according to the latest trustee reports from CLO-i -
US CLOs thrive as managers embrace secondary loan market
4 years 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. -
Philadelphia Energy bankruptcy tars nine CLO managers with $241 million exposure
4 years ago
The Philadelphia-headquartered company has entered into bankruptcy protection for a second time, having only emerged from its first filing in August -
CLO investor looks to offload US and European anchor equity positions
4 years ago
There are two controlling CLO equity stakes up for sale today with a 2017 European deal and a reissued US transaction going under the hammer -
Another 2008 would leave IG CLOs without losses but default rates will climb, says BofE
4 years ago
CLOs will see greater losses in a downturn than they did in the last financial crisis, according to the Bank of England’s Financial Stability Report -
Investors undervalue CLOs by ignoring Euribor floor, Fair Oaks says
4 years ago
Some investors are undervaluing European CLOs by ignoring the value of the Euribor floor, according to a note published by Fair Oaks Capital -
CLO managers lick their wounds with Joerns bankruptcy
4 years ago
Seven CLO managers hold $92.3 million exposure to US healthcare equipment businesses Joerns Woundco Holdings, which filed for Chapter 11 bankruptcy on Monday -
Anchor equity in 2018 CLO reissue fails to trade in secondary market
4 years ago
The anchor equity piece of Anchorage Capital’s 2018 reissue, Anchorage CLO 5-R was up for grabs yesterday on a b-wic seen by Creditflux -
The sky is not falling in on the CLO market, writes PineBridge
4 years ago
CLO market participants are fighting against the perception that their strategy is the detonator to another nuclear financial crises. PineBridge Investments took aim this week at naysayers predicting doom, re-emphasising arguments made last month during Creditflux's CLO Symposium in London. -
Doing CLOs is hard work as recovery lags
4 years ago
There’s scrutiny on staffing, structures and, of course, ‘the challenging arb’. But Q4 volatility created opportunity, which led speakers at the Creditflux CLO Symposium to ask for more -
Spire scales heights as Creditflux’s Manager of the Year 2019
4 years ago
Spire Partners celebrated bringing home three Creditflux awards, including the coveted Manager of the Year trophy, on a night of high spirits on 8 May at London’s Landmark Hotel. -
Seriously, the CLO arb is difficult right now
4 years ago
We know the arbitrage for CLO equity is never perfect, but the arb progressively deteriorated through 2018. Since January, the picture has worsened further after a brief respite in December -
The Last Tranche: ESG, the Millennium Health lawsuit and who won what at the Creditflux Awards
4 years ago
The Crediflux content teams sit down to talk about ESG, the best CLO managers in the business and attempt to answer the key question: what is a loan? -
Spire wins Creditflux Manager of the Year award
4 years ago
Spire Partners was the big winner at Creditflux's Manager Awards last night as the London-based manager scooped the award for the manager of the year. On top of this, the firm picked up awards for Best European CLO Manager and Best European CLO for Aurium CLO II -
CLO single Bs to return with higher attachments
4 years ago
US CLO equity investors this year seem to be focused on downside risk and this is evident in the lack of single B-rated debt in 2019 CLOs. However, there is demand emerging for a new style of single B-rated tranches that are forcing some equity investors to reconsider their stance. -
Sungard bankruptcy to cause minor burns for CLOs
4 years ago
A total of $202.5 million of the loan basks in CLO structures - but managers are unlikely to get badly burned, sources say. And CLOs are fairly well-positioned to retain such assets with several structural factors and indenture provisions -
CVC, Octagon and Spire vie for multiple Creditflux awards
5 years ago
Creditflux is pleased to unveil the finalists for the most prestigious awards dinner in the credit -
Liquidity and disclosure issues threaten potential CRE CLO market
5 years ago
Most investors that participate in the commercial real estate CLO market want to increase their exposure. But the lack of liquidity and standardised disclosure is holding them back. -
US CLO managers look to scale flat WALs in search of flexibility
5 years ago
The anticipation of a downturn in the credit cycle has made investors turn their attention toward document provisions that give CLO managers flexibility -
Creditflux reveals finalists for most competitive Manager Awards ever
5 years ago
To compile the shortlist for the annual Creditflux awards, we select the best performers in credit using a combination of detailed, data-driven metrics. The winners will be announced on 8 May -
Loan sell-off leaves some CLO warehouses out of the money
5 years ago
The December sell-off in the loan market may have been good for CLO equity but it left many warehouses out of the money, according to several sources -
Payless bankruptcy steps on toes of CLOs
5 years ago
CLOs hold exposure to the debt of US retailer Payless ShoeSource, which filed for Chapter 11 bankruptcy earlier this week -
CLOs are not like CDOs, says Barclays, but warns of loan quality impact
5 years ago
CLOs are far removed from the kinds of structured products that contributed to the 2008/09 global financial crisis, Barclays has argued in a wide-ranging research piece this week -
CLO managers exposed as US mortgage lender files for bankruptcy
5 years ago
CLOs hold $164.9 million exposure to the debt of Ditech Holding Corporation, who refiled for Chapter 11 bankruptcy on Monday
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