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CLO pipeline: 2020 absentees join new issue rush
13 hours ago
The CLO pipeline is growing by the minute as managers prepare their first new issues of the year after varying lengths out of the market -
2020 wrap: CLO funds bloom despite rocky ground
14 days ago
2020 was a busy year for CLO fundraising, with Creditflux recording at least 30 funds that launched over the 12 months to invest across the CLO capital structure -
All’s well that ends well in 2020 OC tests
1 month ago
Swathes of CLOs failed over-collateralisation tests last year, but unlike the drawn-out recovery following the 2008 financial crisis, the return to compliance after the covid-19 crash was rapid -
CLO issuers flex their bond muscles
1 month ago
Some panellists at Creditflux’s US CLO Investor Summit pointed to structural difficulties, but the consensus was that flexibility — particularly the ability to buy bonds — could improve performance -
CIFC prints tightest five-year CLO post-covid by big margin
1 month ago
CIFC Asset Management priced its first five-year reinvestment CLO post-covid on Friday, scoring the tightest print by far among similar duration deals -
It's all relative: Euro CLO mezz rallies to follow month-long IG/HY compression
1 month ago
European credit suffered this week with Brexit talks between the UK and the EU dragging on and both sides conceding that a trade deal is unlikely to be reached by Sunday’s deadline. But European CLO tranches have held up reasonably well with mezzanine spreads tightening by almost 13% in December -
CIFC prices tightest four-year euro CLO since covid sell-off
1 month ago
CIFC Asset Management priced the tightest European CLO with four years of reinvestment post-covid on Thursday, teaming up with Barclays to issue the €368.8 million deal named CIFC European Funding CLO III -
Relative value has shifted towards CLO double Bs, conference hears
2 months ago
CLO double B tranches are on course for significant spread tightening, according to participants on day one of Creditflux's CLO Investor Summit on Thursday -
Credit rally slows but structured finance funds gain
2 months ago
Corporate credit spreads levelled off in September, which means that 63% of funds in the Creditflux database have just a single quarter left to make it to positive returns for the calendar year. -
Fund performance: Structured finance finds its footing with credit rally
2 months ago
For the first time this year we have seen a structured finance fund take the top spot, as Serone Key Opportunities Fund leads a multitude of other funds in this category in the top 10 of our monthly fund rankings -
OC health check: CLOs wake up when September ends
2 months ago
September showed a slight but clear improvement in CLOs’ over-collateralisation test results as 182 CLOs breached an OC test during the reporting period, compared to 198 in August. -
Junior triple A-double A basis narrows as CIFC prices third post-covid CLO
4 months ago
CIFC Asset Management on Friday became just the ninth CLO manager to issue three new US CLOs post-covid after teaming with Citi on the $498.3 million deal named CIFC Funding 2020-III -
CLO pipeline: managers large, small and new ready to price in post-Labour Day surge
4 months ago
US managers are preparing a wave of new issue CLOs in the coming days, as the usual post-Labour Day pricing surge comes to fruition even in this most unusual of years -
Fund performance: Almost a third of credit funds reach positive YTD returns
4 months ago
July has been a successful month for many credit funds, despite the recovery peaking in May and June -
CLO funds top rankings, but still have ground to make up
4 months ago
CLOs may have taken a hammering in March but, for the fourth consecutive month, funds that invest in these assets dominate our ranking of the top performing credit funds -
CIFC's new HY team takes all-weather approach as it launches Ucits fund
5 months ago
CIFC has launched a long-short high yield Ucits fund, underlining a trend for all-weather strategies that Creditflux highlighted in the August issue of the monthly newsletter -
Cut! Cineworld’s cancelled merger boosts CLO OCs
5 months ago
Investors in Cineworld’s $1.9 billion term loan breathed a sigh of relief in July after the UK cinema chain cancelled its merger with Canadian firm Cineplex, with holders repaid in full, according to market sources -
Three years after launch, Rockford Tower joins the elite
5 months ago
The CLO platform launched by King Street Capital Management in 2017 has been crowned Creditflux Manager of the Year -
Fieldwood slips into second bankruptcy as CLOs hold $314 million
5 months ago
CLO managers hold $314.5 million of oil and gas drilling company Fieldwood Energy, which filed for Chapter 11 bankruptcy yesterday for the second time in two years -
Investors spy opportunities in CLOs subject to negative rating action
5 months ago
Rating agency downgrades come into play in Thursday's secondary market for CLOs, with a $15 million b-wic at 10am New York time highlighting how double and single B spreads have moved in opposite directions through July -
CIFC prices new CLO tight of market with $50 million upsize
5 months ago
CIFC Asset Management on Monday priced its second new CLO following the coronavirus outbreak - and upsized the deal by $50 million before pricing -
CLO managers push for deeper triple C buckets
6 months ago
CLO managers in the US have launched a concerted effort for greater flexibility on their triple C test limits since the coronavirus-triggered sell off in March -
CLO pipeline: break's over - time to print deals
6 months ago
The CLO market has taken a slight pause after the independence holiday in the US last weekend, meaning the CLO pipeline includes a backlog -
Double B CLOs on downgrade watch up for grabs as market eyes tightening
6 months ago
CLO double B spread averages tightened 24.44 basis points on Wednesday, ending a 22-day widening streak. On Thursday, a b-wic of seven CLO double Bs goes live at 11am New York time and should clarify if spreads will tighten further -
CIFC and RBC plan first new CLO partnership for over five and a half years
6 months ago
CIFC is marketing CIFC Funding 2020-II, the firm's second new CLO since the coronavirus pandemic began, and is working with RBC to arrange the deal
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