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LCH reports 60% growth in CDS clearing
6 days ago
LCH, the central clearing house of London Stock Exchange Group, has reported growth in clearing of index, option and single name CDS during 2020 -
New valuation rules to 'severely limit' fixed income cross trades
30 days ago
Law firm Practus believes that new SEC rules will limit a fund’s ability to cross-trade fixed income investments after the regulator adopted fund valuation rules in December -
CLO managers gain time with Libor deadline extension
30 days ago
US CLO issuers have been given legroom ahead of the transition away from Libor, but as one CLO investor puts it: “While it’s an important development for the CLO market because it alleviates some of the Libor stress, it does not make the problem go away.” -
CLO issuers flex their bond muscles
30 days ago
Some panellists at Creditflux’s US CLO Investor Summit pointed to structural difficulties, but the consensus was that flexibility — particularly the ability to buy bonds — could improve performance -
Elfa forms private debt committee
1 month ago
The European Leveraged Finance Association has launched a new private debt committee which aims to providea forum for direct lenders -
CLOs and leveraged lending do not significantly threaten stability, finds 'congressional watchdog'
1 month ago
CLOs and leveraged lending do not significantly threaten financial stability, according to a report by the US's Government Accountability Office (also known as the congressional watchdog) released yesterday -
BlueCrest settles SEC charges of favouring internal fund over client capital
1 month ago
BlueCrest Capital Management has agreed to pay $170 million to settle charges related to a fund that managed internal capital -
LCH starts clearing US credit index options
1 month ago
LCH, the central clearing house of the London Stock Exchange Group, has expanded its CDSClear service to clear US credit index options -
Real estate debt firm gets over SEC settlement with $180 million fund raise
2 months ago
A Miami-based real estate debt specialist has raised $180 million for a credit fund that appears to have a flexible investment mandate -
Loan market delivers best one-day returns since April due to US election and vaccine
2 months ago
The S&P/LSTA Leveraged Loan Index recorded its best single day returns since April on Monday as investors celebrated in a string of positive developments that sent markets into overdrive -
Six European CLO managers switch to Ireland after Dutch tax hike
2 months ago
European CLO managers have been rapidly shifting their Netherlands-domiciled SPVs to Irish DAC vehicles, according to sources, including PGIM, Barings and Cairn -
Less credit volatility expected in Q4 despite US election fallout
2 months ago
CLO issuance was expectedly low in the final week of October in the run-up to the US election, as issuers brace for what has historically been a volatility-inducing macro-event. But prominent market participants say the unprecedented economic backdrop resulting from the pandemic means the outcome of the 2020 election is less likely to move the dial as much as in cycles past -
European CLO managers switch legacy deals to originators ahead of Brexit deadline
2 months ago
A few European CLO managers are undertaking house keeping ahead of the end of the Brexit transition period in January, by switching the method by which their legacy CLOs comply with risk retention from sponsor to originator -
US election result is 'benign outcome for financial markets', says Nuveen
2 months ago
This week's election in the US is a 'benign outcome for financial markets' even as the final result of the presidential election remains unknown, according to a new report from Nuveen's global investment committee -
Partners triggers frequency switch event on European CLO
2 months ago
Partners Group has made the rare decision to flip the frequency switch on one of its European CLOs -
European CLOs should obtain STS certification, urges ACC
2 months ago
The Alternative Credit Council has urged policymakers to allow European CLOs to obtain Simple, Transparent and Standardised (STS) certification in a bid to boost non-bank lending -
CLO market splits en route to Volcker rule compliance
3 months ago
Volcker rule amendments freeing CLOs from many of the restrictions of the past decade came into law on 1 October, allowing managers greater flexibility in how they invest their portfolios. But the market is split on how exactly CLO documents should be structured as the first slate of unrestricted CLOs print -
Kroll pays $2 million settlement over control failures in rating CLOs and CMBS
3 months ago
The Securities and Exchange Commission has charged Kroll Bond Rating agency more than $2 million for failures related to rating CLO combo notes, as well as in the CMBS sector -
Dislocation and costly payment debacle highlight loan tech lag
4 months ago
Coronavirus-led dislocation in the leveraged loan market, as well as a bank’s recent claims of human error in making a large loan payment, underscore the industry’s need to embrace long-overdue efficiency improvements -
CLOs given workout flexibility as ‘safe harbour’ now viable
4 months ago
From October CLOs will be permitted to hold equity secu-rities resulting from workout situations, say lawyers at Cad-walader, Wickersham & Taft -
Changes in scope for CDS indices and tranches ahead of roll
4 months ago
Structural changes look to be afoot globally for CDS indices and tranches ahead of the September roll, with IHS Markit weighing amendments to products in all three traded regions -
Founder of west coast direct lender charged with fraud
5 months ago
Brendan Ross, founder and former chief executive officer of Direct Lending Investments, was arrested and charged with 10 counts of wire fraud yesterday, amid allegations he inflated the value and returns for a fund investment, resulting in mis-statements to investors and around $5-6million in overcharged fees -
Managers advised to refresh disclosures after SEC risk alert
5 months ago
Credit managers should review their conflict disclosures after the SEC issued a risk alert, say lawyers -
Volcker change for CLOs may be subject to US election outcome, says LSTA
6 months ago
Changes to the Volcker rule that would allow CLOs to hold up to 5% of their portfolios in high yield bonds could be subject to the outcome of the US general election in November, the LSTA has said -
It takes just a few CLO collateral managers selling into the distressed community to start cracks forming
6 months ago
It is becoming increasingly clear that CLO collateral managers need to improve their collaboration efforts in distressed situations
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