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10 results found Showing page 1 of 1

  • We’re drifting apart
    Everyone’s issuing US CLOs these days and it is tempting to believe the crowd of managers is blending into one. However, overall portfolio overlap has dropped to 37.7% across 2021 CLOs  

    1 year ago
  • Arb work pays off
    With day-one arbitrage alone delivering projected CLO cash-on-cash returns of 20-25%, 2021 may have been the best year ever for equity investors — at least until CLO spreads began to widen  

    1 year ago
  • 2020 CLOs find redemption is sweet
    The believers have been vindicated with 2020 CLOs among the best-performing of all time by IRR. Even those that have been reset have been a success with par flushes making for huge equity distributions.

    2 years ago
  • Loan slump brings managers closer
    A 19% slide in new US loan volumes last year has left CLO managers with fewer options in the primary market, and portfolio overlap between US managers has increased to 35.3% on average

    3 years ago
  • Credit funds at a glance
    A round-up of fundraising and people moves in credit

    4 years ago
  • Healthcare hits top of US critical list in slower month

    June was the first month in a long while in which healthcare brought the greatest number of US bankruptcies, but the largest single debtor was Legacy Reserves, an oil and gas company

    4 years ago
  • Large, liquid loans aren’t always perfect
    CLOs could be forgiven for rushing to buy Refinitiv loans — after all it was the biggest LBO since the crisis. But some large managers have abstained, while others have bought opportunistically

    4 years ago
  • Finding the best managers, CLOs and direct lenders

    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 
     

    4 years ago
  • Wide CLO pricing need not be a drag
    Established managers can price CLO liabilities at attractive levels, but we find that CLOs saddled with higher financing costs have nevertheless been among the market’s outstanding performers

    5 years ago
  • Who predicted $145 billion of issuance?
    That went better than expected: US risk retention came in, and $145 billion of global new issuance later, it’s clear that CLOs aren’t disappearing. By Tanvi Gupta and Sam Robinson

    6 years ago

10 results found Showing page 1 of 1

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