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CLO market braces for another wave of loan downgrades
3 years ago
A wave of negative rating actions swept the leveraged loan and CLO market in April. “Companies will look to secure incremental capital which will lead to further rating pressure,” says Philip Raciti, portfolio manager and head of US performing credit at Bardin Hill Investment Partners -
Global CLO b-wic round-up: spreads tighten across the board as bond-flex CLOs trade well
4 years ago
Price levels have tightened and, more importantly, stabilised across the secondary CLO market over the last two weeks, but the Easter break led to a drop off in CLO b-wic supply -
Benchmark European 2020 CLO trades 11 points down in secondary
4 years 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 -
We’ve survived before, we can do so again
$7.8 billion of CLO collateral, split evenly between the US and Europe, is in the loans that have fallen fastest in the past month. But short term CLO pain will bring opportunities for building par4 years ago -
We’ve survived before, we can do so again
4 years ago
$7.8 billion of CLO collateral, split evenly between the US and Europe, is in the loans that have fallen fastest in the past month. But short term CLO pain will bring opportunities for building par -
Global CLO b-wic round-up: CLO triple As recover but mezz left behind
4 years ago
The CLO secondary market was a tale of two halves last week. 100% of all bonds listed in b-wics on Monday and Tuesday had no covers released (either traded or did not trade), but the end of the week was a different story for both markets -
Euro CLO league tables: three new issues make January just right
4 years ago
Three European managers braved the waters in January to kickstart the CLO primary market -
Global CLO league tables - January 2020 YTD
4 years ago
Global CLO league tables - January 2020 YTD -
Investcorp prices Europe's first new issue CLO of 2020 amid high demand
4 years ago
Investcorp Credit Management yesterday brought Europe’s first new issue CLO of the year, with pricing levels showing a big spread tightening across rating bands -
Licence and registration: loan spreads get speeding ticket as CLOs play catch-up
4 years ago
The sharp rally in corporate credit means that CLO spreads are going to have to rapidly follow suit with investors informing Creditflux that US CLO triple As should be pricing at 105-107 basis points to make deal economics work. -
CLO pipeline: Medalist ascends podium as new issues pace themselves
4 years ago
CLO managers are biding their time before re-entering the primary CLO market, but this week Investcorp Credit Management, KKR and Medalist Partners are marketing new issue US CLOs -
Investcorp lines up new CLOs on both sides of the Atlantic
4 years ago
Investcorp Credit Management is gearing up to price new issue CLOs in both the US and Europe, according to market sources -
European corporate loans can fit into various fund types and this year there has been an increase in managed accounts targeting these assets. But CLOs are still the best structures to house loans4 years ago
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Investcorp looks to become first manager to reset a 2017 CLO
4 years ago
Investcorp Credit Management is setting itself up to be the first CLO manager to reset a deal that first priced in 2017 -
Investcorp prices triple As at 110bp in European new issue
4 years ago
The global issuer prices its second new deal in Europe -
CIFC announces four analyst hires in London
4 years ago
CIFC Asset Management says that it has completed phase one of its build-out of a European credit team -
US pension fund earmarks $375 million for various credit strategies
5 years ago
Massachusetts Pension Reserves Investment Management Board (Mass PRIM) has committed $125 million to distressed, $100 million to aviation investments, while earmarking $150 million for structured credit -
Tail wags dog as European CLOs' 108bp benchmark drags loans
5 years ago
European CLOs usually price on the back of where underlying loans are printing, but this year the reverse looks to be true -
Single B spreads edge tighter as Investcorp prices European CLO
5 years ago
Investcorp has entered 2019’s CLO primary market, pricing a new issue deal via Barclays -
It’s going to be a credit picker’s market
5 years ago
Our panel of experts believe that the credit market will be volatile this year, but there will be opportunities in European credit and additional tier one bonds, trups CDOs and unitranches -
Investcorp becomes fourth manager to reap €2 billion of CLO issuance in Europe
5 years ago
Investcorp Credit Management became the fourth European CLO manager this year to pass €2 billion in volumes on Friday, after launching a €410.4 million new issue deal -
Investcorp targets 95bp spread as it markets Harvest CLO XX
5 years ago
Investcorp Credit Management is in the market with its 20th new issue CLO in its ‘Harvest’ series of European deals -
Updated, upgraded and ready to launch
5 years ago
Whether it’s a software update or a full-blown upgrade to a newer model, CLO technology is advancing fast, with Be-Spoke and Ellington the latest to launch new types of securitisations -
Investcorp issues €457.5 million CLO reset with triple As at 93.5bp
5 years ago
Investcorp priced its eighth CLO transaction of the year on Friday, resetting a 2016 deal that became callable in July -
Investcorp brings in European credit portfolio manager from Rothschild
5 years ago
Investcorp has appointed Dominic Courtman as portfolio manager and director of its European Credit Management business (ICM EU)
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