Refine Search
Article Categories
Strategy Tags
- Direct lending (27)
- Emerging markets (6)
- High yield bonds (37)
- Investment grade credit (8)
- Structured credit (25)
- Distressed debt (16)
- Leveraged loans (76)
- Synthetic/SRT (35)
- ABL Financing (2)
Geography Tags
-
It takes just a few CLO collateral managers selling into the distressed community to start cracks forming
3 years ago
It is becoming increasingly clear that CLO collateral managers need to improve their collaboration efforts in distressed situations -
Past returns: GoldenTree CLO trades over par
3 years ago
Five years ago we reported that the equity in a GoldenTree 1.0 CLO was in demand, despite the threat that its position could be marked down to zero -
Points up front: I’m terribly sorry, I didn’t quite catch that…
3 years ago
Creditflux has been running a series of webinars on CLOs and private credit, and despite the risk of unreliable technology, these have been held with few wifi-related issues... -
Some managers calculated their CLOs were passing OC tests, only to find them failing the next day
3 years ago
Corporate credit downgrade storms have been weathered before, but this one has come out of season -
They said it: There will be a re-tiering of managers after this
3 years ago
"There will be a re-tiering of managers after this" -
Points up front: Senior tranches pay down despite junior OC passes
3 years ago
192 US CLOs have breached at least one over-collateralisation test, according to CLO-i, but at least two deals have not followed the conventional path -
I take strength from the composure investors have shown when told their payments are being deferred
3 years ago
It’s tempting to head to the beach or grab a CLO distribution, but investing is all about playing the long game -
A lot of CLO portfolios look similar and I’ve never been one to follow the herd
3 years ago
Zais's Vinnie Ingato takes our credit quiz -
Where are the gloating I-told-you-so columnists who claimed CLOs would bring global destruction?
3 years ago
We have seen a measured response to the coronavirus crisis: fund managers aren’t collapsing and investors are not shunning CLOs -
The CMBS talf proposal is simple and effective. A similar approach for CLOs would be welcomed
3 years ago
It’s great that government is trying to boost securitisations, but they’re missing the mark for CLOs -
Past returns: Death by triple Cs? A step too far
4 years ago
15 months ago in Creditflux we reported that corporate credit downgrades, rather than defaults, were the biggest problem facing CLO portfolio managers -
They said it: "The CLO rally had nothing to do with talf"
4 years ago
"The CLO rally had nothing to do with talf" -
Points up front: Liquidating CLO can’t escape Standard & Poor’s
4 years ago
With over 1,000 CLO tranches on watch across the big three rating agencies, it’s good to see rigorous standards are being maintained and little things like CLO liquidation are not excusing deals from detailed scrutiny -
CLO investors should be able to see live secondary trading levels
4 years ago
Olga Chernova of Sancus Capital takes our credit quiz -
Miscast as the villains of the 2008 crisis, CDS may prove to be the heroes of 2020
4 years ago
Credit default swaps provide investors with valuable signals on the depth of the coronavirus crisis -
The opportunities to build par and spread within a CLO haven’t been this plentiful since 2009
4 years ago
Last year’s CLOs could become the benchmark for manager performance -
Points up front: Despite the fees, European SME CLOs are the future
4 years ago
Producing the first post-crisis securitisation of small and mid-sized European loans was a monumental effort for Be-Spoke Capital. -
They said it: "Start writing the story about banks making margin calls to buyers of CLOs using repo!"
4 years ago
A reader comments on our 25 March report “US fund managers put on leveraged CLO triple A trade with a view to 13% returns”, pointing out that banks were pulling loan TRS lines, but still had the appetite to support leveraged CLO trades. -
Past returns: A new secondary market for CLOs
4 years ago
Ten years ago we reported on the recovery of CLO triple As in the secondary market. -
Distressed exchanges offer pathways to recapture value that others are trying to take from CLOs
4 years ago
Volcker rule amendments could protect CLOs from losing out to distressed funds in a restructuring -
"We can have a positive impact by bringing diverse thinking to our business"
4 years ago
Edwin Wilches of PGIM takes our credit quiz -
Past returns: Seven-year wait for equity payment
4 years ago
Five years ago we reported that equity investors in three legacy PGIM CLOs received a total of €1.1 million in distributions — seven years late. -
Points up front: Betting on ESG CLOs
4 years ago
Investing ethically is becoming a big part of credit, with CLO managers among the first to adopt environmental, social and governance (ESG) investment guidelines. So it’s no surprise that ESG criteria were high on the list of talking points at the Structured Finance Association’s SFVegas gathering last month. -
2020 will be about relative value, watching for idiosyncratic risk and a good deal of running away
4 years ago
Investors must embrace change — it’s time for structured credit investors to look beyond vanilla CLOs -
Don’t be tempted by low debt costs — the key driver of performance in static CLOs is market timing
The development of a term curve in CLO debt does not necessarily make short tenor deals a good bet4 years ago
Want all the latest news, comment, analysis and data?