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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 -
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 -
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 -
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 -
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 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 -
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 -
Wide CLO pricing need not be a drag
5 years ago
Established managers can price CLO liabilities at attractive levels, but we find that CLOs saddled with higher financing costs have nevertheless been among the market’s outstanding performers -
US CLO round-up: volatility moves pricing curve out of whack
5 years ago
CLO triple As have been pricing at wildly different levels - that's the long and the short of it -
CLO triple A financing costs fall dramatically as Ellington extends its debut deal
5 years ago
Ellington Management has teamed up with Citi to reset its inaugural CLO, Ellington CLO I, upsizing the deal by $75 million -
US CLO round-up: managers find short-dated resets are the way to go
5 years ago
Short-dated resets are popular right now - as are single B tranches -
Ellington earns longer reinvestment period as it prices first CLO of 2018
5 years ago
There are clear signs that debt investors are getting increasingly comfortable with Ellington Management's CLO strategy -
Ellington earns investor support for high-spread CLO strategy
6 years ago
Ellington priced its second CLO and the firm seems to be have support for its novel approach to launching CLOs -
Join the debate: Ellington’s CLO debut
6 years ago
“The bond has a story, but you get paid for that” -
Ellington opts for high-spread strategy as it prices debut US CLO
6 years ago
Ellington Management has become the second debut US CLO manager of the year after yesterday pricing a $375 million deal, which has a unique set of parameters -
Ellington's CLO strategy is "back in business" as opportunity opens up in 2.0s
6 years ago
Ellington Financial has for the last few years pursued a strategy whereby it would buy deleveraging 1.0 CLOs but, as that market dies away, officials at the firm say that they are finding plenty of opportunities in seasoned 2.0 deals
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