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Credit Rendezvous: And breathe...
2 years ago
The unanimous verdict is that credit spreads will be moving wider – they have to. But the difficulty credit fund managers face is predicting when the next sell-off comes and how sharp it will be. In the Q3 instalment of Creditflux’s Credit Rendezvous, the over-riding message from portfolio managers is that there’s little point in taking on too much risk. The report features the views of prominent credit figures including Paul Horvath (Orchard), Himani Trivedi (Nuveen), Ronnie Jaber (Onex), Graham Rainbow (Alcentra) and Michelle Russell-Dowe (Schroders). The report looks at 14 segments of the market including CLOs, direct lending, leveraged loans, distressed debt and credit derivatives. -
US loan managers capture secondary opportunities as new issues struggle
2 years ago
US loan managers switched gears by sourcing loans in the secondary market in the second quarter. This came as pricing in the primary market became less attractive in the early part of Q2 and with new loan issuance slowing in May and June -
Onex shakes up senior debt structure in refi of 2019 CLO
2 years ago
Onex Credit Partners has restructured the senior debt tranches of OCP 2019-17 after refinancing the deal via Citi -
Onex prices its first CLO of 2021
2 years ago
Onex Credit Partners has issued its first new CLO of 2021 -
CLO pipeline: go long! new issues and resets push refis aside
2 years ago
The CLO market is ready to go beyond refinancings - after this year's opening blitz of those deals - into the longer tenored territory of resets and new issues -
CLO pipeline: expensive 2019 CLOs in vogue with 32bp savings potential
2 years ago
The CLO pipeline is dominated by refinancings and resets, with new issuance taking a backseat -
CLO pipeline: Carlyle eyes fourth new issue in two months but refis and resets dominate
3 years ago
Manager focus has shifted to reworking vintage CLOs to lower funding costs in a much tighter market, with the new issue US market having slowed -
CLO pipeline: busy year, so let's take time to reset
3 years ago
The US CLO market this year has been dominated by new issues and refinancings, but now is the time of the reset judging by this week’s pipeline -
Onex converts notes to loans in revamped 2019 CLO amid $457 million refi
3 years ago
Onex Credit Partners has completely overhauled the capital structure of its 2019 deal named OCP CLO 2019-16 as part of a refinancing, including converting parts of tranches originally issued as bonds into loan format -
Onex hires former BlackRock official as European CLO head following departure
3 years ago
The appointment comes after the departure of Onex's senior-most European CLO portfolio manager Steve Baker late last year -
Onex prices sixth CLO primary market transaction of 2020
3 years ago
Onex Credit Partners returned to the CLO primary market on Thursday to print its sixth transaction of 2020 -
Onex claims three new US CLO equity investors
3 years ago
Onex Credit Partners has confirmed the pricing of a US CLO earlier this week, which it says resulted in three new equity investors to its platform -
Onex prints seniors at 141.6bp in five-year reinvestment CLO
3 years ago
Onex Credit Partners has priced its third US CLO post-covid, and its first with a five-year reinvestment period -
CLO pipeline: three behemoths prepare for quick-turnaround new issues
3 years ago
CLO managers have printed at a frenetic pace since the start of the quarter with $3.36 billion of issuance across all CLO markets and pricing types -
Credit fundraising: managers build homes for real estate credit funds
3 years ago
The “largest ever real estate credit fund” was one of the fundraising highlights last month as Blackstone’s Real Estate Debt Strategies IV fund reached $8 billion on its final close -
US and European CLO portfolio managers set to leave Onex
3 years ago
A pair of experienced CLO portfolio managers are leaving Onex at the end of the year. Sources say Onex remains committed to the CLO business, having issued three deals globally since May -
Onex prepares structured credit fund after making big CLO hire
3 years ago
Onex Credit Partners has launched a new structured credit offering, Onex Structured Credit Opportunities Fund, four months after hiring structured credit veteran Ronnie Jaber -
Onex prints European CLO via Credit Suisse in first time partnership
3 years ago
Onex Credit Partners has teamed up with Credit Suisse to price its first European CLO in 2020 -
Onex plans first European CLO in over a year
3 years ago
Onex Credit Partners is marketing its first European CLO of 2020, with the deal expected to price later this week, according to market sources -
Onex prices second US new issue CLO in three weeks
3 years ago
Onex Credit Partners priced its second new issue US CLO in just three weeks yesterday, via Natixis, to become the fourth US CLO manager to price two new issue CLOs during the covid-19 pandemic -
Onex hires Jaber as it launches CLO investment business
3 years ago
Onex Credit Partners has hired Ronnie Jaber to start a CLO investment business in New Jersey, according to an announcement today -
Onex scores tightest CLO debt execution following covid-19 outbreak
3 years ago
Onex Credit Partners today teamed up with Bank of America to price its first CLO since the coronarvirus outbreak, named OCP CLO 2020-18 -
New slate of US CLOs shows evolving term curve
3 years ago
Three new CLOs are forthcoming from Partners Group, Gulf Stream Asset Management and Onex Credit Partners with each manager opting for a different reinvestment strategy -
Onex revamps leadership of credit business after hiring from GSO
3 years ago
Jason New has joined Onex Credit as co-chief executive officer in New York, according to an announcement. -
Flurry of US CLO refis takes year's tally to 16
4 years ago
Four US CLO refinancings took place on Friday, underlining that 12- to 18-month deals can price their senior liabilities in the low 100s
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