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38 results found Showing page 2 of 2

  • Loans recover slightly after late-2018 havoc
    Secondary loan prices have ticked higher this year, although they are still some way off the levels reached before the fourth quarter slump. However, M&As are starting to fill the new issue pipeline
     

    5 years ago
  • Keep calm and buy corporate loans
    Calm heads prevailed in 2018. Markets were volatile and risk retention was supposed to cause problems, but there was no need to panic and volumes went on to break records set in 2014

    5 years ago
  • Retail fund pain is a CLO manager’s gain
    Retail funds dumped loans in record volumes late in 2018, creating ideal conditions for CLOs to capitalise with performing credits available in the mid-90s for the first time in years

    5 years ago
  • Loan volumes fall in Europe but rise in US
    European CLO managers seem to be eating into the loan market with more appetite than their, US counterparts, who are perhaps spoiled for choice. But background risks lurk in both markets

    5 years ago
  • Europe adapts to harsher CLO climate
    The European CLO market survived the financial crisis and ensuing risk retention obligations. Conditions remain tough, but we expect a 25% increase in the number of active managers

    5 years ago
  • Buy and hold isn’t only option for CLO equity
    New US CLO equity is being more regularly flipped into b-wics. Figures suggest that equity pieces of 2017 and 2018 US deals made up 22% of the b-wic market over the past four quarters

    5 years ago
  • Widening whisks market back to 2017
    Right now, CLO volumes are healthy and the list of active managers is steadily growing. But with CLO liability spreads reverting to where they were a year ago, some issuers are a little nervous.

    5 years ago
  • New issues keep managers busy in summer season
    New issue loans made up 74.1% of volumes in August, supporting US CLO managers looking to ramp up. Spreads tightened to 368bp, but managers can’t complain — it’s much better than in Q1

    5 years ago
  • Loan market finds balance as spreads edge wider
    New issue volumes were robust in July with relatively few loan refinancings getting done. Loan portfolio managers say the loan market is finally balanced, having been in favour of borrowers

    5 years ago
  • Consumer lending: questions pile up for debt collectors
    Cabot’s failed IPO has hit bonds across the debt collection sector – and made investors much more cautious. By Euan Hagger

    6 years ago
  • Who predicted $145 billion of issuance?
    That went better than expected: US risk retention came in, and $145 billion of global new issuance later, it’s clear that CLOs aren’t disappearing. By Tanvi Gupta and Sam Robinson

    6 years ago
  • Managers pick spots on CLO curve
    As refi volumes slowed through 2017, the term curve for CLOs steepened, leading managers to vary their deal tenors as they sought to hit the evolving sweet spot.

    6 years ago
  • CLO managers return to new issues
    The frenetic pace of refis and resets slowed in the third quarter as CLO managers – new and old – turned their attention to building assets

    6 years ago

38 results found Showing page 2 of 2

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