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CLO demand to drive loan outperformance over bonds: BNP Paribas
2 years ago
The buying power of CLOs and funds could mean leveraged loans rally further and outpace high yield bonds, says BNP Paribas' credit research team -
ESG drive poses little threat to CLO returns or flexibility, says Moody's
3 years 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 -
CLO investors still hungry for triple As and double Bs, says JP Morgan
3 years ago
Most CLO investors are looking to add risk through deals in the months ahead, with very few inclined to reduce exposure, a JP Morgan survey has found - despite the historic flood of issuance in the first quarter of this year -
European CLO portfolio overlap increases by 3%: S&P
3 years ago
European CLO portfolio overlap for new issue deals since mid-March has increased to 37.73%, according to a recent report by S&P, around 3% higher than the average of 36% for all European CLOs rated by S&P -
Barclays increases European loan and CLO issuance forecasts
3 years ago
Barclays has increased its European leveraged loans issuance expectations due to “better than expected recovery in issuance from M&A and LBO activity”, while its European CLO 2020 issuance forecast increased to €15 billion-€18 billion, up from a previous estimate of €12-15 billion -
Size matters: exposure to small loan facilities worse than covid industries, says BofA
3 years ago
CLO managers that hold a higher portion of smaller sized facility loans in their portfolios have performed worse through the pandemic, according to a Bank of America research paper -
Leveraged loan spreads to widen to March levels, warn UBS strategists
3 years ago
US leveraged loan spreads could widen back to March levels of 825 basis points as default risk increases, according to strategists at UBS. -
CLO managers favour tech, cable and healthcare as loan downgrade fears dominate, finds JP Morgan
4 years ago
Picking safe sectors to buy in the coronavirus crisis is a tough call, but CLO managers variously favour technology, cable/satellite and healthcare, according to a JP Morgan survey. There is much more consensus on dumping autos, energy, gaming/lodging/leisure and retail -
30% of CLOs will breach their 7.5% triple C buckets, says BofA
4 years ago
The number of CLOs tripping their 7.5% buckets for loans rated triple C is set to soar from 8% to around 30%, according to the latest research from Bank of America -
Fed cut triggers Libor floors on third of US loans
4 years ago
Roughly a third of US loans effectively became fixed rate investments this week as Libor edged below 1% for the first time since January 2017 -
European CLO managers with big bond buckets do best, finds Bank of America
4 years ago
European CLO managers that trade in the secondary market and hold a higher percentage of fixed rate assets are likely to outperform their peers, Bank of America finds in latest research -
36% of US loans could be repriced amid rally, finds Nomura
Nomura calculates that about 36% of loans are eligible for a repricing. It bases this on the number of loans that are immediately callable, have near-term call risk or are a potential call risk if the loan market continues to rally
4 years ago -
CLO supply set for double-digit drop in 2020, says JP Morgan
4 years ago
US CLO supply in 2020 will be as much as 20% down on 2019, while European issuance will fall 13% year-on-year, predict JP Morgan strategists in a research note. Even so, new CLOs should still outpace existing deal paydowns, as well as high yield primary market net new issuance -
CLO issuance will temper as market remains in 'exploratory mode', notes BAML research
5 years ago
Following a bout of volatility in the loan market, CLO issuance will be tempered as debt and equity investors rediscover correct pricing levels, according to a new research paper published this week by Bank of America Merrill Lynch -
CLOs dodged recent loan defaults, according to Wells Fargo
6 years ago
CLO exposure to three recent US loan defaults has been minimal, according to Wells Fargo research -
Heading tighter into uncertainty
7 years ago
Tightening loan spreads are making the job of a CLO manager harder in both the US and Europe. But credit volatility could be on the horizon
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