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Private equity firms are becoming CLO converts: TwentyFour
1 year ago
Private equity firms have increasingly bought CLO and other securitised debt tranches in recent weeks instead of their usual preference for physical assets - a trade TwentyFour believes "makes perfect sense" -
US loan index falls below 92 to almost wipe out gains since July
1 year ago
The S&P/LSTA Leveraged Loan Index sank to an average bid of 91.92 cents by Monday, down by two points in as many weeks, wiping out almost all the gains seen in the late-summer market rally -
European IG CLO mezz is attractive versus US paper: Barclays
1 year ago
There is no reason for European CLO mezzanine tranches to be as wide as they are versus equivalent US paper, according to a strategy note from Barclays. -
Widening asset/liability gulf will hurt CLOs: Barclays
1 year ago
A mismatch between CLO asset / liability rate risk is increasing in the US as more leveraged loan issuers opt for one-month pay frequency, Barclays credit strategists have found -
Manager selection stakes are heightening as CLO pain points intensify: Barclays
1 year ago
CLOs’ slump in market value and piling of distressed assets have made differentiation between managers much more acute on key metrics, regionally and by vintage, according to Barclays credit strategists -
Octaura's real-time trading solution paves way for loans and CLOs to drop illiquid tag
2 years ago
The unprecedented cooperation between CLO trading desks that culminated last week in the launch of Octaura could change the way credit investors judge the relative value merits of loans and CLOs versus liquid alternatives such as high yield bonds -
CLO investors show more signs of optimism than other ABS: Barclays
2 years ago
CLO investors attending the Global ABS conference in Barcelona were more upbeat than those that work in residential mortgage-backed securities and other ABS, say Barclays securitised credit strategists. But the overall mood was sombre -
Euro loan slide hits ramped warehouses as Carlyle eyes print and sprint deal
2 years ago
European loans tumbled in May, leaving CLO warehouses under pressure and causing a slowdown in primary issuance -
European CLO pipeline thins as investors wait for stability
2 years ago
The European leveraged loan and CLO market has yet to regain momentum following the start of the Ukraine-Russia conflict, with investors pointing to a thin immediate CLO pipeline -
Sofr spike boosts CLO debt as Europe and US go out of sync
2 years ago
The sharp rise in three-month term Sofr has caused CLO relative value to shift decisively towards primary US CLO debt tranches in January as the floating rate benchmark shot up from 9.11bp to 17.06bp (from 1-20 January) -
CLOs prove resistant to omicron in boost for new issue market
2 years ago
The CLO market has withstood the impact of the omicron coronavirus variant with barely a dent on CLO liability pricing -
CLO lower cap stack will outperform with $175bn new issuance in 2022: JP Morgan
2 years ago
Equity and lower rated tranche investors will do best as $175 billion of global new CLO issuance arrives in 2022, predict JP Morgan strategists in their annual outlook, taking market size to $1.2 trillion -
CLO Census latest: voting crosses 200 as range of dealers lead in CLO origination
2 years ago
CLO market participants are placing value on the specialist service that dealers are providing, according to Creditflux’s CLO Census, with three different banks leading the way for US CLO execution, structuring and syndication. A silimar trend is in play in Europe -
Siaci €202 million loan to leave CLOs after merger as new debt guided in low 400s
2 years ago
Burrus has outlined price talk on an €850 million loan backing its acquisition and merger with Siaci, a popular CLO credit -
BofA and Citi unveil multi-dealer platform for CLOs and loans
3 years ago
Bank of America and Citi have joined forces with plans for a multi-dealer CLO and loan platform which will cover trading, data and analytics -
BlackRock shaves top but widens rest of stack with Euro CLO reset
3 years ago
BlackRock has reset a 2016 vintage CLO, pricing the triple A tranche inside the average for new issue European deals but widening lower rated tranches from where they refinanced in 2019 -
European CLO and loan spreads jostle in tight race
3 years ago
New issue CLO spreads have tightened so sharply in Europe that market participants are questioning how long the process can continue. -
CLO 2021 outlook: back to the 'old' normal with volumes, spreads and structures to revert to pre-covid levels
3 years ago
Predictions went out the window this year because, well, who in December 2019 could have foreseen a pandemic devastating lives and wrecking financial markets? But the emergence of vaccines to combat the threat of the coronavirus has spurred a rally in credit over the last month. And CLO researchers expect a resurgence in 2021 with US new issue CLO volumes predicted to hit the $80-110 billion range, according to reports analysed by Creditflux. -
Europe leads corporate credit rally, but US outperforms in CLOs
3 years ago
iTraxx Crossover has been the CDS market's outperformer this week, tightening over 30 basis points, or 11.4%, to trade at 235bp today. But in the CLO market, US deals have come out on top thanks to a BlackRock CLO that priced its double Bs at some of the tightest levels this year -
Managers amend CLO structures amid refinancing ripple
4 years ago
CLO managers have deployed various measures to keep their deals ticking amid a European refinancing wave. -
Euro CLO managers ditch Moody’s as negative views rise
4 years ago
European CLO managers have begun turning against Moody's as it has rapidly increased the number of loan issuers it has placed on negative outlook. -
Market bemoans Europe’s lack of CLO manager tiering
5 years ago
Manager tiering became a hot topic in Europe again last month following Credit Suisse Asset Management’s decision to break with tradition by syndicating its triple A notes in Madison Park Euro Funding XIV, rather than place the notes with an anchor investor. -
Loan trading round-up: CLO managers fall out of love with First Data
5 years ago
An analysis of loan trading among CLO managers in February shows that First Data is falling down the pecking order with managers selling $182 million of the company's loans -
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
24 results found Showing page 1 of 1
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