- Direct lending (238)
- Emerging markets (46)
- High yield bonds (186)
- Investment grade credit (74)
- Structured credit (223)
- Distressed debt (105)
- Credit derivatives (136)
- Leveraged loans (352)
- Marketplace lending (27)
- Real assets (62)
ArrowMark liquidates 2014 CLO after selling assets in February23 hours ago
ArrowMark Colorado Holdings has liquidated its CLO named Elevation CLO 2014-3
Beneath the triple C: $31.6 billion of CLO credits feel downgrade pain1 day ago
March madness took a toll on CLOs as Moody’s and Standard & Poor’s downgraded 4.25% of the portfolios in the US and 1.84% in Europe to triple C or below in just one month (some of these were already triple C rated, only to fall further).
Pretium adds Pimco official as it expands business development with string of hires1 day ago
Pretium Partners has made several hires to its business development and data teams including a new business development co-head from Pimco
US CLOs did not lose par in March, finds JP Morgan1 day ago
A research paper from JP Morgan has estimated there was no US CLO par burn in March, although loss of par for the first quarter was 11%
Onex revamps leadership of credit business after hiring from GSO1 day ago
Jason New has joined Onex Credit as co-chief executive officer in New York, according to an announcement.
Liquidity ends at double Bs as European CLO single Bs struggle in secondary1 day ago
European CLO single Bs are struggling to clear in the secondary market with sources indicating these positions are valued at about 30 cents
$52 million b-wic suggests stabilising junior CLO spreads2 days ago
A $52 million b-wic yesterday shed some light on junior CLO levels on a day of very little pricing transparency.
Former JP Morgan credit prop trader relaunches credit hedge fund2 days ago
Palm Lane Partners is relaunching – two years after the credit hedge fund manager looked to spin out of JP Morgan Asset Management
Former BofA CLO trading head lands at Swiss wealth manager after fundraise2 days ago
Bank of America’s former European CLO trading head has landed at Swiss asset manager ISP Group
Ares takes different approach to primary CLOs as it plans three-year US deal2 days ago
The primary market for CLOs since the coronavirus escalated into a pandemic last month is evolving briskly with Ares Management planning a new US CLO with a three-year reinvestment period
Global CLO b-wic round-up: $8 billion of US CLOs listed in record-breaking March3 days ago
Last week brought an end to the busiest month in both the US and European CLO secondary markets since at least 2014. $7.7 billion of US CLO paper was on sale in March with a further €1.8 billion of European CLO bonds available, bringing the total listed in Q1 to $13.9 billion and €3.6 billion
S&P puts 48 triple C-heavy CLOs on negative watch3 days ago
A spike in loan assets rated triple C as a result of the coronavirus pandemic has led S&P Ratings to put 48 CLO tranches on negative watch
Who's got the moves Europe: TV producer's loans rally most as recovery begins3 days ago
The S&P/LSTA European Leverage Loan Index ended the week at 82.98 on 3 April – recovering 4.06 points from 78.92 on 24 March which was the lowest point for the index since the 2008 financial crisis.
Who's got the moves US: Carlyle leads as $3.7 billion of CLO loans recover3 days ago
CLOs were exposed to $833.4 million worth of paper in the 10 term loans that suffered the largest price falls last week. But CLOs also had exposure to $3.67 billion of loans that recovered the most over the seven days.
Axa IM cancels Volta dividend due to CLO equity cash flow uncertainty3 days ago
Axa Investment Managers has has cancelled the 28 April dividend payment to investors in its listed credit fund Volta Finance “in light of the ongoing uncertainty caused by the covid-19 pandemic"
Citi makes $100 million-plus gains on CLO triple A trade3 days ago
Citi bought $2 billion of CLO triple As from PGIM last month and made more than $100 million in profit after selling the bonds when triple A prices recovered, according to Bloomberg
Kayne Anderson CLO trades high as double A investors factor in portfolio health3 days ago
Demand for high quality mezzanine US CLO paper is picking up, according to trader sources, with the most sought after single As trading at about 425 basis points and the best triple Bs trading at 670bp towards the end of last week
Creditflux unveils newsletter platform6 days ago
Creditflux is today unveiling an online newsletter platform, which recreates our print magazine in a digital, user-friendly format.
Unique CLO upsizes to $22 billion6 days ago
The world’s largest CLO has more than doubled in size to total a whopping $22 billion
Benchmark European 2020 CLO trades 11 points down in secondary6 days ago
A senior European CLO investor has flipped €21.9 million worth of notes onto the secondary market, selling eight of nine line items via a b-wic, sources say. Meanwhile, US CLO trading switched from being investment grade focused over the last month to being centred on below IG tranches yesterday: IG volumes reached $574 million versus $926 million for lower rated tranches
RBS makes cuts to ABS and CLO team as part of broader restructuring6 days ago
Royal Bank of Scotland has made cuts to its ABS and CLO team as part of a broader restructuring plan, a spokesperson for the firm has confirmed
GSO out the gate with first new issue CLO post-covid 19 crash6 days ago
GSO Capital Partners today became the first manager to issue a CLO following the coronavirus-triggered financial crash
Structured credit dragged very wide — but CLOs stand to gain7 days 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.
US CLO issuers get pricing signals as triple As trade in secondary at 375bp7 days ago
Would-be US CLO issuers were given an indication of pricing levels yesterday after a CLO that turns static in July hit the secondary market
Points up front: Despite the fees, European SME CLOs are the future7 days ago
Producing the first post-crisis securitisation of small and mid-sized European loans was a monumental effort for Be-Spoke Capital.
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