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New CLO affected as Fitch puts eight US single A tranches on negative watch
4 years ago
Fitch Ratings today added another 19 CLO tranches to its negative watch list, including eight that an original rating of single A, according to a statement from the rating agency -
We start again: loan crash sparks move to short-dated CLOs
4 years ago
After 12 years, the CLO bull run has come to an end. But these things were built to withstand massive shocks, so there’s no time to panic. Rather, it’s time to kick off 3.0s with static deals. -
Global Atlantic appoints head of credit after hiring from hedge fund manager
4 years ago
Global Atlantic has filled the void in its credit investment division -
GoldenTree enters primary CLO market after amassing $315 million of loans
4 years ago
GoldenTree Loan Management is 70% ramped on a new US CLO, according to market sources. -
Neuberger Berman eyes $500 million fundraise for CLO opportunity fund
4 years ago
Neuberger Berman has become the latest manager to launch a CLO opportunity fund with the New York-headquartered manager looking to raise $500 million for the vehicle -
S&P pushes downgrade button on three US CLO tranches
4 years ago
S&P Ratings has downgraded two tranches of Marathon CLO V and one tranche of Mountain View CLO 2013-1 -
Longview Power turns to coal for handful of CLOs
4 years ago
CLOs hold $43.9 million of the debt of US power company LongView Power, which filed for Chapter 11 in the District of Delaware yesterday -
Frontier bankruptcy dials up pressure for 90 CLOs
4 years ago
Nine CLO managers hold $217 million of Frontier Communications’ debt across 90 CLOs, as the telecommunications company filed for Chapter 11 protection in the US Bankruptcy Court Southern District of New York -
US CLO triple As move to below 200bp - but talf shouldn't get all the credit
4 years ago
US CLO triple As are trading inside 200 basis points for the first time in almost a month – but that is less a reflection of the talf announcement last week than to do with the broader rally across risk assets -
Two US CLOs fail senior OC tests
4 years ago
Apex Credit Partners and Marathon Asset Management have become the first CLO managers in the 2.0 era with deals failing their senior overcollateralisation tests, according to latest trustee reports on CLO-i -
CLOs nurse $172 million of Quorum's debt following bankruptcy - but recovery prospects look good
4 years ago
CLOs hold $172.9 million of the debt of US hospital operator Qurum Health Corporation, which filed for Chapter 11 in the US Bankruptcy Court for the District of Delaware last week -
Structured credit fund loses 32.4% in March as junior US CLO debt slumps
4 years ago
Volta Finance’s net asset value dropped 32.4% in March, according to a monthly report released yesterday. US CLO debt was the weakest performer for the structured credit fund, managed by Axa Investment Managers, losing 41.3%. -
AGL prices novel CLO with ability to reinvest would-be equity distributions
4 years ago
AGL Credit Management has become the fourth manager to issue a new CLO following the coronavirus-triggered sell-off -
Senior CLO investment officials leaves GSO for Kennedy Lewis
4 years ago
CLO tranche investor Dik Blewitt has parted ways with GSO Capital Partners, landing a job as partner and 'head of tactical opportunities' at Kennedy Lewis Investment Management -
LSC bankruptcy leaves print marks on CLOs
4 years ago
CLOs hold $84.3 million of the debt of LSC Communications, which filed for Chapter 11 in the Southern District of New York yesterday. -
Four managers eye breakthrough new issue European CLOs
4 years ago
The European primary CLO market is showing signs of revival with four managers eyeing deals -
Two senior credit officials leave Global Atlantic
4 years ago
Global Atlantic has parted ways with two senior members of its credit team, including its head of credit investments -
US primary CLO market gathers pace as Guggenheim makes a comeback
4 years ago
Guggenheim Partners has staged a return to CLO primary issuance after eight months, pricing a new transaction despite the extended volatility following the coronavirus outbreak -
Redding Ridge prices one-year US CLO
4 years ago
Redding Ridge Asset Management, the CLO management vehicle affiliated with Apollo Global Management, has become the second manager to price a CLO following the coronavirus-related selloff -
Fed backs new issue CLO triple As in amended talf programme
4 years ago
The Federal Reserve’s term asset-backed securities loan facility (talf) has been expanded to support CLO triple As -
Secondary CLO debt trades well but Trace suggests CLO equity trading at 12 cents
4 years ago
A variety of CLO paper was in for the bid yesterday with US secondary CLO volumes reaching $281 million, and European volumes hitting €74 million -
ArrowMark liquidates 2014 CLO after selling assets in February
4 years 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 pain
4 years 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 hires
4 years 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 Morgan
4 years 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%
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