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Frontier CDS auction to follow Lebanon and Whiting Petroleum
4 years ago
An auction to settle CDS referencing Frontier Communications will take place next month -
Boston pension seeks distressed debt manager
4 years ago
Boston Retirement System is reissuing its private debt manager search and soliciting proposals from firms to manage a distressed debt mandate -
New Mexico pension allocates $235 million to credit
4 years ago
New Mexico Educational Retirement Board has allocated $235 million to three credit managers, a spokesperson for the pension has confirmed -
Palmer Square promotes senior official to president after Long drops title
4 years ago
Palmer Square Capital Management has promoted a partner and managing director president effective 18 March. The title was previously held by founder Chris Long -
TCW looks to price static US CLO with triple As at 230bp
4 years ago
TCW Asset Management is the latest manager to test the market for new CLOs amid the coronavirus crisis, with the firm targeting a Wednesday pricing date for its new deal named TCW CLO 2020-1 -
Global CLO b-wic round-up: spreads tighten across the board as bond-flex CLOs trade well
4 years ago
Price levels have tightened and, more importantly, stabilised across the secondary CLO market over the last two weeks, but the Easter break led to a drop off in CLO b-wic supply -
Moody's joins Fitch and S&P in CLO negative watch camp as it acts on 976 tranches globally
4 years ago
Moody’s has put tranches from 358 US CLOs and 39 European CLOs on review for downgrade, in an announcement that places 976 tranches (859 in the US 117 in Europe) at risk of losing their original rating -
Italian banks push wider on EU coronabond stand-off
4 years ago
Political divisions over tackling the coronavirus economic crisis are front and foremost for European credit traders this week ahead of an EU leaders virtual summit on Thursday, with Italian and Spanish banks among today's worst performers in CDS -
Experienced CLO official departs Pretium after two years
4 years ago
A CLO and loan portfolio manager has departed Pretium Partners, according to market sources, just under two years after his arrival -
Arbour Lane collects $1.2 billion for special situations fund
4 years ago
Arbour Lane Capital Partners has hauled in $1.2 billion on a final close of its opportunistic credit and special situation fund, Arbour Lane Credit Opportunity Fund II, exceeding its $750 million initial target size -
Fitch places five BDCs on negative outlook
4 years ago
Fitch Ratings has changed the outlooks of five business development companies from stable to negative folllowing a review of its rated BDCs -
Yes they Canyon: west coast manager joins group of post-covid 19 CLO issuers
4 years ago
Canyon Capital has joined the exclusive group of managers to price a new issue CLO amid the crisis stemming from the coronavirus pandemic -
Redding Ridge and Natixis reunite for second new CLO in a month
4 years ago
Redding Ridge Asset Management, the CLO manager affiliated with Apollo Global Management, has priced its second CLO of the month, becoming the fist manager to issue two new transactions following the coronavirus selloff in March -
OC health check: another two CLOs fail senior OC tests
4 years ago
Two senior overcollateralisation test failures number among 26 deals joining the list this week of CLOs breaching their OC tests in April, according to the latest trustee reports on CLO-i. -
Credit Rendezvous: recovery begins, but is it U, V or even W?
4 years ago
Investing in credit is not as easy as ABC. The coronavirus crisis has crushed valuations and although most assets will eventually pull to par, no one is sure how the recovery will pan out -
Extreme gap opens for basis traders as relief packages cause distortion
4 years ago
Evidence abounds for how government and central bank interventions in the coronavirus crisis are distorting credit markets, but one clear signal is the flip-around of the basis between corporate bonds and CDS in recent days -
Fair Oaks issues shares to buy more CLO debt after 50% equity tranche hit
4 years ago
Fair Oaks Capital has issued new shares on its CLO fund at a premium to its net asset value to capitalise on CLO debt, which it says “offers attractive risk-adjusted returns over the medium term” -
CSAM holds second close on drawdown CLO fund
4 years ago
Credit Suisse Asset Management is set to hold a second close on a CLO fund it launched late last year. -
Whiting initial list points to 90 cent CDS pay-out
4 years ago
Four bonds have made it onto an initial list of deliverable obligations for an auction to settle CDS referencing Whiting Petroleum, which triggered a bankruptcy credit event earlier this month -
If history repeats itself, the best CLO play could be to hold equities
4 years ago
After a futile scramble for liquidity, LyondellBasel filed for bankruptcy in the early morning hours of 6 January 2009. Bad luck for CLO managers that were holding the loan? Not at all -
BlueTorch's Genda details direct lending flows and pricing as he ramps up new fund
4 years ago
BlueTorch Capital has witnessed a 20% pickup in dealflow since covid-19 but, while the company's portfolio has avoided retailers, airlines and hotels, it has not gone unscathed, said chief executive officer Kevin Genda -
US pension gains 6.5% in three days after putting $350 million into credit
4 years ago
Marathon, Waterfall, ArrowMark and Columbia were allocated $350 million from a US pension for structured credit, Talf and high yield mandates -
Eagle Point cuts dividend payments on listed CLO equity fund
4 years ago
Eagle Point Credit Company has slashed its divident payment by 60% to eight cents a share, down from 20 cents a share, following losses to net asset value in the first quarter as a result of the coronavirus pandemic -
New CLO affected as Fitch puts eight US single A tranches on negative watch
4 years ago
Fitch Ratings today added another 19 CLO tranches to its negative watch list, including eight that an original rating of single A, according to a statement from the rating agency -
We start again: loan crash sparks move to short-dated CLOs
4 years ago
After 12 years, the CLO bull run has come to an end. But these things were built to withstand massive shocks, so there’s no time to panic. Rather, it’s time to kick off 3.0s with static deals.
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