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European companies reprice EUR 16bn of loans in 2024 as window opens
2 months ago
When the European loan market started to talk about rates peaking late in 2023, repricing rehearsed a comeback, but did so effectively in January this year -
Palmer Square liquidates 2022 CLO through BWIC
4 months ago
Palmer Square is the seller of a mammoth EUR 350m loan and bond BWIC portfolio that was auctioned last Thursday (4 January) as it has been winding down Palmer Square European Loan Funding 2022-3 -
2023: a bumper year for CLO funds
5 months ago
It looks like 2023 will finish as a solid year for most credit funds, and an outstanding one for CLO funds. But funds pursuing corporate distressed strategies continued to struggle -
November 2023 US Leveraged Highlights
5 months ago
Debtwire today releases the November 2023 US Leveraged Highlights, featuring key trends in the leveraged loan and high-yield bond markets -
November 2023 European Leveraged Highlights
5 months ago
Debtwire today releases the November 2023 European Leveraged Highlights, containing key trends in the leveraged loan and high-yield bond markets -
US CLO credit Air Methods Corporation files for bankruptcy
7 months ago
Air Methods Corporation, a widely held name in the US CLO market, filed for Chapter 11 this morning reporting USD 1bn to USD 10bn in liabilities. -
Fund performance
8 months ago
Positive August for credit sees CLO funds on top again -
ICG taps Apollo partner as head of US liquid credit
8 months ago
The new head of US liquid credit has been tasked with helping grow ICG's US credit business -
Arini's hiring spree continues as it builds out CLO platform
9 months ago
Arini continues to beef up its loan team with the hire of a senior member of the credit team at Rothschild -
Arini continues expansion with Credit Suisse hire
Credit hedge fund Arini taps former senior-level Credit Suisse executive.
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Columbia names new loan and CLO head as Howard announces retirement
10 months ago
Columbia Threadneedle Investments has appointed the next head of its US bank loan team after current head Jerry Howard announced his retirement effective in January next year -
Recent US bankruptcies show non-DIP lenders wiped out
11 months ago
A trio of recent US bankruptcies is testing the CLO market's recovery assumptions, according to Debtwire’s Restructuring Database of recent court filings. -
Jump in loan prices sees CLO primary stall in the US
11 months ago
US CLO primary supply almost ground to a halt in June with just three transactions printing in the first half of the month -
CLO funds make best of a bad situation
1 year ago
It can’t get any worse can it? Well, it did in 2022, when credit spreads kept moving wider. Still, CLO funds were able to withstand the pressure, and they outperformed other credit strategies -
Fund performance: European CLO funds lead the way
1 year ago
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January -
Credit Suisse/UBS deal to create $5 trillion asset manager
1 year ago
The emphasis is set be on wealth and asset management, according to a statement released by UBS in conjunction with its move to acquire Credit Suisse -
Pimco promotes global lev fin and CLO head to managing director
1 year ago
Pimco's leveraged finance head is one of five senior officials promoted to managing director -
Stunning January rally means CLOs are back in business
1 year ago
Longtime observers of the CLO market tell Creditflux they have “never seen the market move so quickly” after a rip-roaring January saw a spectacular rally in both loans and CLO debt. -
Fund performance: Credit funds end difficult 2022 on a positive note
1 year ago
In December 66% of credit funds reached a positive return, following an even better November where 81% of all funds pushed into the black -
Lights go out for Heritage Power with 120 CLOs left in the dark
1 year ago
US based power plant operator Heritage Power filed for chapter 11 bankruptcy in the bankruptcy court of Texas on Tuesday night, impacting $124.45 million of assets held by 120 US CLOs. -
Serta Simmons makes its bed again with default leaving CLOs with a restless night
1 year ago
$172.5 million of CLO assets defaulted on Monday after Serta Simmons Bedding filed for chapter 11 bankruptcy. -
Loan amendment alert: Wellpet offers 10bp CSA
1 year ago
Wellpet has issued a loan amendment request with a view to including a 10 basis points credit spread adjustment (CSA), market sources say. Although this is an improvement on recent amendments it still falls short, according to CLO investors. -
Beneath the triple C: Life could be better, but it’s just a letter, under the CCC
1 year ago
Many market participants were eagerly looking forward to a break in December after a gruelling year, but the rating agencies were in no mood to oblige. -
Loan managers must act to prevent CSA leakage, say CLO investors
1 year ago
CLO investors have made clear that managers need to stay on top of US loan amendments that are switching benchmark from Libor to Sofr -
Are we ready for another crisis?
1 year ago
Credit managers must brace themselves for stress in 2023, as rates rise and the number of poor performing assets increases. But most CLOs look well-placed and can rely on plump OC cushions
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