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First Eagle refinances partially paid-down senior CLO tranche
3 years ago
First Eagle Investment Management has teamed up with Citi to refinance a triple A-rated fixed CLO tranche that has been partially paid down -
Fracking servicer FTS files for chapter 11 protection
3 years ago
Fracking servicer FTS International filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas Houston yesterday. The credit is not widely featured in CLOs with only nine managers holding $47.9 million of FTI’s term loans -
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 -
(First) Eagle has landed: Morgan Stanley prints breakthrough five-year CLO
3 years ago
First Eagle Investment Management has priced the first regular-way five year reinvestment CLO following the credit market dislocation triggered by the coronavirus pandemic -
First Eagle prices one-year mid market CLO
3 years ago
First Eagle has priced its latest CLO backed by middle market loans -
OC health check: CLOs heal up with no new breaches among US BSL deals
3 years ago
53 CLOs reported an over-collateralisation (OC) test breach last week, but only two CLOs breached an OC test for the first time, neither of which were US broadly syndicated loan CLOs -
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 -
CLO double Bs on sale as sub-investment grade rally fizzles out
3 years ago
After more than a month of rapid tightening, CLO double Bs trended wider last week by roughly 60 basis points, as the market for these sub-investment grade tranches stabilises in the mid-800s -
Dishware maker files for bankruptcy as CLOs hold $200 million
3 years ago
CLOs hold $207.58 million of Libbey Glass, which filed for chapter 11 protection in the US Bankruptcy Court for the District of Delaware on Monday, as a result of the firm's impending debt maturities and the impact of coronavirus -
OC health check: some CLOs cure failures, but quarter of US deals still in breach
3 years ago
117 deals failed over-collateralisation tests in the last week, although only 46 of these were deals reporting breaches for the first time, according to the latest reports available on CLO-i -
Points up front: Senior tranches pay down despite junior OC passes
3 years ago
192 US CLOs have breached at least one over-collateralisation test, according to CLO-i, but at least two deals have not followed the conventional path -
$350 million of CLO collateral drips into default as oil companies file for Chapter 11
3 years ago
CLOs hold $353 million worth of debt of two oil and gas companies - Ultra Petroleum and Gavilan Resources - which have become the latest casulties of the precipituous decline in oil prices. The pair filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas on Thursday and Saturday, respectively -
OC health check: first senior breach in middle market pushes CLO tally to 13
3 years ago
41 CLOs have breached an overcollateralisation test in the last week, according to the latest trustee reports on CLO-i, taking the overall total to 182 -
Strong structures benefit mid market CLO structures despite lack of government support
3 years ago
April was a brutal month for the broadly syndicated loan-backed CLO market, with swathes of deals breaching their overcollateralisation limits. But sources say their middle market counterparts could be better placed to weather the storm if the coronavirus crisis escalates -
First Eagle looks to appoint former THL officials as key CLO personnel
4 years ago
Former THL Credit Advisors officials are poised to take on key roles in the management of First Eagle Investment Management’s CLO platform -
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. -
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 -
First Eagle completes first CLO transaction following THL buyout
4 years ago
First Eagle Investment Management has priced its first transaction in the CLO market since announcing the acquisition of CLO manager THL Credit Advisors earlier this month -
First Eagle buys US CLO manager THL Credit
4 years ago
Two years after establishing its credit business with the acquisition of NewStar Financial, First Eagle Investment Management is aiming big again after striking a deal to buy THL Credit Advisors -
CLO pipeline: high triple C bucket opens a Gateway to pricing
4 years ago
In less than ideal market conditions, even experienced CLO managers are learning new tricks to keep the pipeline full. Of the 11 US new CLOs that appear in the pipeline this week, two are high triple C bucket transactions -
Mid market CLO league tables: Barclays makes entrance as AB picks up the pace
4 years ago
Barclays was involved in its first ever middle market CLO, as July marked the first month of 2019 that Natixis did not arrange a mid market CLO this year. -
Considering the variables over the life of a CLO, a drop in Libor is a relatively modest risk
4 years ago
Changes in Libor do not have a major impact on CLO equity cash flows or equity yields -
First Eagle prices refinancing of middle market CLO
5 years ago
First Eagle saves big on triple Bs as part of refinancing -
Mid market CLO round-up: Cerberus steps up with unusual triple As
5 years ago
Three middle market CLOs were brought to the market this week via Cerberus, Maranon and First Eagle -
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
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