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Flex CLOs tap mass downgrades to fill big triple C buckets
3 years ago
CLO managers are being hampered by the sheer volume of corporate credit downgrades to triple C, leaving the small cluster of triple C-flex CLOs to capitalise -
OC health check: failures lift above 100 as five more deals breach senior test
3 years ago
Another 116 CLOs have breached their overcollaterisation tests in the last week, according to the latest trustee reports on CLO-i. Out of this, five deals have failed OC tests for all classes – bringing the overall tally of deals that have breached senior OC tests to nine. -
Ellington European CLO still on table despite scrapped warehouse rating
4 years ago
DBRS Morningstar has discontinued ratings on the warehouse line backing the launch of Ellington Management’s debut European CLO, but sources say the CLO is still going ahead -
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. -
Investors query loan b-wic objectives as trade rates plummet
4 years ago
Over €1 billion worth of loan paper has appeared in the form of European loan b-wics in March, according to market sources. But buyer appetite has been low -
Ellington sells large chunk of assets from European CLO warehouse
4 years ago
Ellington Management sold €69.5 million from its CLO warehouse on a b-wic dated 12 March, according to market sources -
Bluestem bankruptcy hits $106 million of CLOs
4 years ago
CLOs hold $105.7 million of the debt of US retailer Bluestem which filed for Chapter 11 bankruptcy last week, according to the latest trustee reports from CLO-i. -
VIP Cinema makes uncomfortable viewing for CLOs as it's reeled into Chapter 11
4 years ago
CLOs hold $52.9 million of debt in seatmaker VIP Cinema Holdings, which has filed for Chapter 11 bankruptcy protection in the District of Delaware -
CLOs face losses as Constellis loan drops to 28.5
4 years ago
32 CLO managers hold $640.4 million of Constellis Holdings’ debt, which Moody's downgraded to C after the company missed an amortisation payment due 31 December -
Clover bankruptcy leaves print marks on CLOs
4 years ago
CLOs hold $256 million of the debt of printing supply company Clover Technologies Group, which filed for Chapter 11 bankruptcy on Monday -
Enhanced CLOs are no more enhancing than run-of-the-mill distressed funds
4 years ago
Triple C-heavy CLOs that try to time the market may be paying for options they never use -
Ellington finds Ucits success with mix of structured and synthetic
4 years ago
Fund managers are finding ample liquidity in the structured and synthetic credit market and this is helping them outperform in the Ucits fund universe. -
A round-up of fundraising and people moves in credit4 years ago
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Philadelphia Energy bankruptcy tars nine CLO managers with $241 million exposure
4 years ago
The Philadelphia-headquartered company has entered into bankruptcy protection for a second time, having only emerged from its first filing in August -
Ellington expands CLO team by hiring Black Diamond loan specialist
4 years ago
Ellington Management Group has hired an associate portfolio manager to its loan team -
CLO managers process Fusion bankruptcy implications
4 years ago
12 CLO managers hold $185.2 million exposure to the debt of the cloud services company, which filed for Chapter 11 bankruptcy -
Ellington hires business development head in London
4 years ago
Ellington Management Group has appointed Jonas Frantz to head up business development in Europe and the Middle East, according to market sources -
It’s possible to be big — and still be picky
4 years ago
Our analysis of 2018 CLOs shows that firms such as Credit Suisse Asset Management and Sound Point Capital Management have built loan portfolios that are different to the rest of the market. -
Sungard bankruptcy to cause minor burns for CLOs
4 years ago
A total of $202.5 million of the loan basks in CLO structures - but managers are unlikely to get badly burned, sources say. And CLOs are fairly well-positioned to retain such assets with several structural factors and indenture provisions -
Europe's CLO manager field set to get bigger as managers from all corners aim to break through
5 years ago
Regulation does not always impair activity -
Affinion skipped interest payment impacts small number of CLOs
5 years ago
Only two CLO managers could be affected by the debt of Affinion Group, who skipped its scheduled 19 Feb interest payment ($22.2 million) to its first-lien 2022 term loan holders -
Ellington goes for two-year reinvestment period as it prices CLO
5 years ago
Ellington Management priced a $478.5 million CLO via Barclays on Friday, continuing its strategy of selecting portfolios with high tolerance of triple C-rated loans -
Ellington opens inaugural European CLO warehouse via Barclays
5 years ago
The US-headquartered manager has hired Barclays to warehouse Ellington European CLO I -
Ellington partners with Trium for new credit Ucits offering
5 years ago
Ellington has joined the alternative Ucits party, partnering with London-based Trium Capital for Ellington Trium Alternative Credit Ucits, a long/short credit Ucits fund. -
Ellington hires London-based loan PM to build European CLO platform
5 years ago
The US-headquartered manager has hired a London-based portfolio manager specialising in European corporate credit with a view to building a European CLO platform, according to a person familiar with the matter
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