24 results found Showing page 1 of 1
- Direct lending (9)
- Emerging markets (2)
- High yield bonds (4)
- Investment grade credit (4)
- Structured credit (6)
- CLO (14)
- Distressed debt (3)
- Credit derivatives (7)
- Leveraged loans (9)
- Marketplace lending (2)
- Real assets (3)
Apollo and Barings defer equity payments on long-dated CLOs1 month ago
Apollo Global Management and Barings have joined PGIM in deferring their scheduled April payment dates for a handful of European CLOs, according to the latest payment reports on CLO-i. Apollo also deferred payments on several of its US CLOs.
KKR takes covid-19 hit on flagship credit funds and lev fin1 month ago
KKR took a 16% hit to returns on its alternative credit flagship funds amid the first quarter coronavirus downturn and a 13% loss on leveraged credit, taking these into negative territory for the last 12 months. The firm's private equity portfolio also slumped by 12%
Fed expands Main Street direct lending scheme but it's unlikely to help CLOs2 months ago
The US Federal Reserve Board has expanded the scope of its Main Street Lending Programme following more than 2,200 letters of feedback. Under the third loan facility, lenders will hold 15% of the loan to borrowers with greater leverage
KKR deploys 10% of $2 billion coronavirus dislocation credit fund2 months ago
KKR Credit has plans to launch a $2 billion dislocated corporate and asset backed credit fund to take advantage of coronavirus-induced volatility. And the New York-based manager has wasted no time swooping on opportunities after deploying $212 million by 9 April
Mergers, declines in assets and changes in risk profile can signal that an investment manager is not as healthy as it was
The opportunities to build par and spread within a CLO haven’t been this plentiful since 20093 months ago
Last year’s CLOs could become the benchmark for manager performance
Short-dated CSOs touted as jump-to-default risk hits curves3 months ago
The coronavirus outbreak has all but vanquished hopes of any regular CSO business getting done, but sources say bespoke portfolios of short-dated CDS could soon be in the offing as investors look to express a view on when the crisis will end.
You wait 12 years for loan dislocation and $1 trillion comes along all at once3 months ago
The waiting is over — distressed debt managers have the best entry point in about a dozen years as the S&P/LSTA Leveraged Loan Index plunged to 80 in just two weeks.
Asset managers pull all liquidity levers to satisfy borrowers3 months ago
A paramount concern for many investors in direct lending funds is whether asset managers have enough liquidity to meet borrower requests for funding
Structured credit dragged very wide — but CLOs stand to gain3 months ago
Senior tranches of securitisations widened 220% in less than a month as the coronavirus pandemic has meant an increase in systemic risk — a sharp turnaround from the past few months when idiosyncratic risks were being cited as the main concern for structured credit investors.
CLO warehouses trigger draw stops as loan market tanks3 months ago
CLO warehouses are being put on ice due to ‘draw stop’ triggers, which have come into play as loan prices plunge.
High yield index widening drives equity tranche trades3 months ago
The blow-out in corporate credit spreads is creating opportunities in the index tranche market.
Past returns: A new secondary market for CLOs3 months ago
Ten years ago we reported on the recovery of CLO triple As in the secondary market.
CDS show the way as prices move and volumes surge3 months ago
CDS volumes provide an eye-opening view of how the asset class has grown in prominence during the coronavirus pandemic, with index trading near doubling year-to-date on 2019, even as secondary bond markets hit lockdown.
Investors watch Libor amid inter-bank liquidity concerns3 months 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.
$7.8 billion of CLO collateral, split evenly between the US and Europe, is in the loans that have fallen fastest in the past month. But short term CLO pain will bring opportunities for building par3 months ago
CLOs at a glance: CLO primary market grinds to a halt3 months ago
A round-up of CLO performance
A round-up of ucits fund performance3 months ago
A round-up of fund performance3 months ago
Trade body asks US government to show it CARES about BDCs3 months ago
The US federal stimulus maintains existing regulations that exempt portfolio companies from accessing the stiumulus funds. The Institutional Limited Partners Association wants to change that
Fed accepts triple A-rated CLOs in new 'primary dealer credit facility'3 months ago
The US Federal Reserve Board will establish a primary dealer credit facility on Friday (20 March) to help defend against the impact of coronavirus-led market volatility
GP-led private debt secondaries "a month away" if covid-19 volatility hits cash flows3 months ago
Private debt secondary funds have seen uptick of limited partner-led opportunities as institutional investors and family offices dispose of fund level commitments to gain liquidity, sources say. And general partner-led secondaries focusing on the lower middle market could emerge shortly if volatility hits companies’ cash flows
CLO new issues shut down as market digests fiscal stimulus measures3 months ago
The CLO and loan pipelines have dried up as managers and investors shift their focus to trading, according to market sources
Time on side of direct lenders as private loans give relief against volatility3 months ago
Some credit fund managers have become myopic in an effort to absorb the impact of the market sell-off, rate changes, shortage of liquidity and the overarching consequences of the coronavirus pandemic. Mid-sized companies might be considered more vulnerable in such circumstances, but direct lenders are spared from any mark to market volatility
24 results found Showing page 1 of 1
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