- Direct lending (14)
- Emerging markets (15)
- High yield bonds (122)
- Investment grade credit (88)
- Structured credit (31)
- CLO (114)
- Distressed debt (10)
- Credit derivatives (91)
- Leveraged loans (73)
- Real assets (3)
Is direct lending on the rebound? - Debtwire Special Report1 day ago
After a slow start in 2023, direct lending in both the US and Europe has been on the rise, with volumes in Q3 almost doubling compared to the previous quarter
DebtDynamics EMEA | Right on time15 days ago
Leveraged loan borrowers favouring shorter tenors pile maturities for 2028
State of the US Loan Market 3Q23 - Xtract Special Report22 days ago
The US leveraged loan market continued to languish in 3Q23, but the average covenant score for large Sponsor loans bounced back somewhat from its precipitous decline in 2Q23 according to this special report
DebtDynamics EMEA | Under pressure: likely-to-distress scores highlight struggling industries and regional woes1 month ago
The European leveraged market has crossed the threshold of 100 companies at the stressed/distressed lifecycle stage, according to Debtwire data
September 2023 US Leveraged Highlights1 month ago
Refinancing continues to amplify leveraged debt volume in Debtwire's latest report featuring key trends in the leveraged loan and high-yield bond market
Credit PMs predict global recession1 month ago
Respondents to the latest IACPM credit outlook survey were feeling particularly gloomy, with a strong majority predicting recessions in both the US and Europe next year
Loan Highlights 3Q23: Loan volumes remain significantly lower than historical averages1 month ago
Capital markets loan activity continued to struggle in the third quarter of 2023, as issuers in the Americas and Europe held off from tapping markets
European CLOs win out against US deals2 months ago
Last month, our analysis explored the performance of US CLOs that were previously reset. We found that they delivered higher distributions than deals which weren’t reset, with the exception of the 2017 and 2018 vintages (Creditflux September 2023 — Do resets help CLOs perform better?). This article expands that analysis to the European market, and compares the performance of US BSL and EU CLO equity tranches.
Testing the water: issuers gauge sterling HY bond demand following 10-year record low2 months ago
Pure Gym, a UK-based fitness club, has become the second company in a week to test demand for sterling-denominated senior secured notes in the European high-yield market
Do resets help CLOs perform better?2 months ago
As the market for CLO resets opens, we look at the performance of deals that were previously reset, and find they soon deliver higher distributions than those deals that were not reset
DebtDynamics North America: de-risking remains key focus for loan issuers and investors alike3 months ago
Syndicated leveraged loan and high-yield (HY) bond markets have endured a challenging time during the past eight months but sentiment is far from rock-bottom
Manager tiering matters, but don’t rely on proxies like WAS or WARF3 months ago
With manager tiering continuing to dominate CLO primary pricing levels we take a look at the 2021 vintage to see how much difference a manager really makes to deal performance
Single-name CDS volumes surge in the Americas, according to Barclays research3 months ago
The net notional outstanding volume for Americas corporate (ex-LatAm) CDS increased 19% year on year to a new multi-year high according to new research from Barclays
US leveraged loan issuance drops 35% year on year3 months ago
Debtwire 's new July 2023 US Leveraged Highlights report sees a striking 70% year-on-year decrease in new money institutional activity as lack of supply from the M&A market weighs on issuance
Snooze - you’re extended! Can lenders in European SFAs sleep-walk into extended tranches? - Xtract Special Report3 months ago
This Xtract Research special report asks whether lenders under European SFAs could find themselves re-designated into a later-maturing facility or tranche than originally documented without their explicit consent
Refinancing continues to dominate headline figures in latest European leveraged highlights3 months ago
Debtwire has released its July 2023 European Leveraged Highlights, containing key trends in the leveraged loan and high-yield bond markets
1H23 European direct lender rankings3 months ago
The volume of European direct lending facilities issued fell to just €8.5 billion in 2Q23. The same quarter last year was the largest on record at €51.3 billion, representing over an 80% drop year on year.
Retail maintains primacy as most distressed sector in Europe with €31 billion of debt restructuring commenced in 1H233 months ago
Newly commenced restructurings tracked by Debtwire in Europe during 1H 2023 show 114 mainly large-cap restructurings, compared to 89 tracked in 1H 2022, a 28% increase year-on-year
Last frontier: Common currency conquers non-Eurozone countries to dominate lev loan market4 months ago
Our latest DebtDynamics EMEA research shows that the share of the European leveraged loan syndication market denominated in the EU common currency jumped from 80% in 2015 to levels closer to 95% since 2019
DebtDynamics North America: Likely-to-distress scores highlight struggling industries4 months ago
Out of a universe of more than 12,000 leveraged US companies, 180 are in the stressed/distressed lifecycle categories
Private credit default index shows surprise decrease in the second quarter4 months ago
Proskauer’s Default Index of the US private credit market was 1.64% in the second quarter, a significant decrease from 2.15% in 1Q23.
Large CLO managers outperform their smaller peers4 months ago
Size does matter according to our latest research that finds that larger US CLO managers have consistently outperformed their smaller counterparts.
US sponsor-led loans show sharp deterioration in covenant quality4 months ago
Credit underwriting standards in the US continued to fall in the second quarter of 2023, according to a new special report from Xtract Research.
Secondary CLO prices continued to rise across June4 months ago
US BWIC secondary prices continued to rise in June, according to a report by KopenTech.
New IACPM survey points to a global recession4 months ago
Respondents to the latest IACPM Credit Outlook Survey overwhelmingly expect global economies to fall into recession either later this year or sometime in 2024.
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