- Direct lending (38)
- Emerging markets (5)
- High yield bonds (64)
- Investment grade credit (22)
- Structured credit (27)
- CLO (164)
- Distressed debt (16)
- Credit derivatives (75)
- Leveraged loans (72)
- Real assets (2)
Securities regulators call for improvement in practices in CLO market5 months ago
IOSCO, an international policy forum for securities regulators, has called for improvement in practices in both the leveraged loan and CLO markets.
Our Xtract Research team explores an unexpected outcome from the recent Kirschner ruling5 months ago
Appeals court and SEC rule in favour of CLO market5 months ago
The US CLO market breathed a sigh of relief in August as two major regulatory rulings went in its favour
JP Morgan wins Kirschner case as court rules loans are not securities6 months ago
The Second Circuit Court of Appeals has ruled in favour of JP Morgan in the Kirschner case that term loan Bs are not securities
Proposed US bank regulations could create more demand for CLO triple A notes6 months ago
Recent proposals on bank capital requirements in the US may increase demand for CLO triple A paper, according to new research by Barclays
Loan market breathes sigh of relief as SEC declines to comment on Kirschner case7 months ago
The SEC decided not to intervene in an ongoing court case about whether US leveraged loans are securities last week in an important win for the loan market.
Proposed regulation changes could open up US CLO funds to UK investors7 months ago
Proposed changes to the UK Securitisation framework may expand the investor base for US structured credit if passed.
Legacy CLO notices go out for Sofr switch7 months ago
Legacy CLOs are poised to transition to Sofr in a smoother manner than their underlying assets, according to market sources, who say that almost every issuer has sent notices to their investors signalling that they plan to make the switch on 30 June.
Loan market says goodbye to Libor in legacy contracts7 months ago
In July, after 37 years of widespread use as the underlying base rate for contracts, the London Inter-Bank Offered Rate will finally be ditched by the majority of the leveraged loan market.
Should I worry about synthetic Libor?8 months ago
The date on which the ICE Benchmark Administration (IBA) will cease publishing the remaining available tenors of Libor is fast approaching. But initially, publication of all tenors of Libor was supposed to cease on 31 December 2021.
DLA Piper: new regulations expand "conflict of interest" definition that goes back 30 years [video]9 months ago
At Creditflux's CLO Symposium in London in May, DLA Piper partners Richard Reilly and Konstantinos Vavelidis discussed the regulatory outlook for the CLO market on both sides of the Atlantic
FCA greenlights synthetic Libor10 months ago
The UK’s Financial Conduct Authority has given the go-ahead for ‘synthetic Libor’ as it creates a bridge for Libor contracts that do not have any hard-wired language referencing Sofr.
LSTA requests comment period extension on SEC's securitisation conflicts rule11 months ago
Comments are due 27 March but an extension no sooner than 24 June has been requested
US CLOs may require audits under revisions to SEC custody rule11 months ago
New sweeping revisions to the SEC’s Custody rule in mid-February could require US CLOs to be audited and officials tell Creditflux the rule poses very significant challenges which are problematic from a high level, not just in the loan space.
Insurers draw battle lines as NAIC proposal splits CLO debt and equity investors11 months ago
Insurance companies found themselves on opposing sides on Tuesday when the National Association of Insurance Commissioners held a meeting to determine capital treatment for CLO equity investments.
Re-proposed SEC rules could negatively impact CLO managers and affiliates1 year ago
CLO managers and their affiliates could be negatively affected by re-proposed securitisation conflict rules by the Securities and Exchange Commission last week, if approved in its current form
Comment period deadline nears as NAIC mulls 100% capital charge for CLO equity1 year ago
The National Association of Insurance Commissioners is pressing ahead with its proposal to increase capital charges for US insurers’ CLO equity investments to 75% or 100%
Actuarial body opposes CLO equity capital charge proposal ahead of NAIC meeting1 year ago
A US actuarial organisation has put forward arguments as to why a more nuanced analysis of CLO investments is required by the National Association of Insurance Commissioners ahead of a meeting in Tampa on Wednesday.
Proposed SEC rules "possibly existential" for open-ended loan funds, says LSTA1 year ago
The US Securities and Exchange Commission's upcoming new rule focusing on liquidity management in open-ended funds could have “possibly existential” and negative implications for loan mutual funds and exchange traded funds in its current form, according to the LSTA
New US CLOs brace for EU’s Article 7 reporting requirements1 year ago
Investors now need Article 7 reporting compliance for new non-EU securitisation investments (such as US CLOs). This includes high-level portfolio reporting to investors, including loan-by-loan data in greater depth than even CLO trustee reports provide.
US CLO managers face SEC marketing rules compliance1 year ago
The 4 November deadline for compliance with the SEC’s marketing rule is fast-approaching, with sources describing the rule as “creating an adversarial situation for managers and arrangers”
US managers brace for CLO reporting overhaul as new EU investments become subject to Article 71 year ago
US CLO managers could face an administrative headache with EU investors investing in new and secondary market US CLOs now requiring more exacting detail of underlying portfolios. This follows the long-awaited European Commission Securitisation Regulation report overhauling investment rules
CLO arrangers and managers prepare for new marketing rule from November1 year ago
CLO arrangers will need to work together with CLO managers in the coming weeks to ensure compliance, interpret the rules and set guidelines over what they can and cannot communicate with investors without disclosures
Judges rule in favour of Citi in overturning Revlon decision1 year ago
Citi has won its appeal against Revlon creditors, forcing a consortium of asset managers to return more than half a billion dollars received in an accidental transfer in 2020
NAIC softens CLO stance with collaborative approach, but equity tranches come into focus1 year ago
The National Association of Insurance Commissioners’ summer meeting last week offered some rays of light that the institution is favouring a collaborative approach as it looks to model CLOs inhouse
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