- Direct lending (6)
- Emerging markets (1)
- High yield bonds (24)
- Structured credit (1)
- CLO (24)
- Distressed debt (1)
- Credit derivatives (10)
- Leveraged loans (remove)
Breakthroughs come thick and fast for Libor alternatives13 days ago
Momentum has gathered around initiatives to replace Libor in contracts, with CME Group obtaining a regulatory nod on the term Secured Overnight Financing Rate (Sofr) as well as moving to launch interest rate futures based on banks’ short term credit yields
CME touts forward-looking Sofr term benchmarks1 month ago
CME Group has begun publishing term benchmarks for the secured overnight interest rate (Sofr) as part of the global push to move away from Libor in financial markets
Fund managers brace for EU’s new sustainability regulations2 months ago
European fund managers were faced with new environmental, social and corporate governance (ESG) regulations in March, which enhance disclosure requirements around sustainability
ESG drive poses little threat to CLO returns or flexibility, says Moody's2 months ago
Environmental, social and governance investment criteria are not impairing CLOs either in flexibility or performance, Moody's Investors Service has found in a new report
Sofr fix nears launch as CLOs face term rate void2 months ago
Three months into 2021, grounds for optimism have grown little that a term rate will be found before the end of the year to replace Libor in loans, CLOs, CDS and other contracts. But hopes are rising that solutions such as credit spread adjustments could help mitigate performance uncertainty
CLO issuers flex their bond muscles5 months 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
New valuation rules to 'severely limit' fixed income cross trades5 months 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
CLOs and leveraged lending do not significantly threaten stability, finds 'congressional watchdog'5 months 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
Loan market delivers best one-day returns since April due to US election and vaccine7 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
US election result is 'benign outcome for financial markets', says Nuveen7 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 CLO7 months ago
Partners Group has made the rare decision to flip the frequency switch on one of its European CLOs
Dislocation and costly payment debacle highlight loan tech lag9 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
Ares fined $1 million by SEC over 'misuse of non-public information'1 year ago
Ares Management has been fined $1 million by the US Securities and Exchange Commission in a settlement surrounding compliance failure relating to a portfolio company
It's confirmed: loans are not bonds in " victory for the flow of capital to American businesses"1 year ago
You're a loan. No, nothing to do with lockdown and social distancing. It's actually a victory for the $1.2 trillion US loan market as a court ruling finds that loans are not securities in the long-running Kirschner v. JP Morgan Chase case
Fed announces first loan subscription date for talf1 year ago
The Federal Reserve Bank of New York announced yesterday that the first loan subscription date for the term asset-backed securities loan facility will be 17 June and the first loan closing date will be 25 June
Investors watch Libor amid inter-bank liquidity concerns1 year ago
After a freefall to 74 basis points on 12 March, CLO managers found some relief in watching Libor rise to 120bp during the second part of the month.
Managers seeking bond buckets will need high yield track record1 year ago
US CLOs could soon be permitted to buy corporate bonds amid an overhaul of the Volcker rule, but market sources say that in the short term bond flexibility is a luxury that will only be afforded to a select group of CLO managers.
Managers face ESG disclosure pressure under ‘ambitious and demanding’ EU regulations1 year ago
New rules finalised by the European Union will shake up the way managers approach environmental, social and governance investing, sources say. The ambitious initiative is relevant for funds which have a specific ESG mandate — but will also be applicable to firms without an express ESG or sustainability focus.
Regrettably, a small number of CLO debt investors insist on ‘hardcoded’ Sofr replacement provisions1 year ago
Sofr looks like the most likely candidate to replace Libor, but it is still risky to write it into CLO documentation
Anti-CDS tactics enter European bond market as high yield pipeline builds1 year ago
‘Anti-net short’, or ‘anti-CDS’, provisions are set to enter the European corporate bond market for the first time, as Merlin Entertainments and Kantar wrap up roadshows for deals financing their acquisitions by private equity firms
Guidelines fail to assuage fears over loose reporting standards1 year ago
The Chartered Financial Analyst (CFA) Institute’s new hedge fund reporting guidelines come into play next year, but some say they fall short of a much-needed overhaul.
New EC fund rules could lead to ‘pre-pre-marketing’1 year ago
The European Commission has approved a standardised concept of ‘pre-marketing’ in a move that could see more capital flow through the European Economic Area. The new definition of pre-marketing is meant to provide clarity, but some sources say that the amendments could be seen as an additional burden and lead to a concept of pre-pre-marketing.
US CLO managers see positives as docs include negative notation language to ease move to new reference rate1 year ago
Europe might be making progress, but US CLO managers are less than preoccupied with the looming transition away from US dollar-Libor based pricing.
CLO issuance faces threat amid loan definition dispute2 years ago
The clash over Millennium Laboratories’ bankruptcy could have ramifications for the CLO market, and it all hinges on the philosophical question: what is a loan?
Cayman Island hopping: EU laws provoke switch in CLO listings2 years ago
The Cayman Islands Stock Exchange (CSX) is set to become the listing place of choice in 2019 for CLOs put together by US managers — at least, according to a bold prediction by law firm Harneys.
Want all the latest news, comment, analysis and data?