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30 results found Showing page 1 of 2

  • Fund performance: Long-short funds rule in October as CLO funds struggle
    A round-up of fund performance

    1 day ago
  • Fund performance
    A round-up of fund performance click here.

    1 month ago
  • Lenders turn to quality over quantity

    Bond and loan volumes dropped in August amid signs that US investors are taking a safety-first approach: 46% of issuance was made up of loans rated BB-/Ba3, compared to 33% earlier this year

    2 months ago
  • Fund performance
    A round-up of fund performance

    2 months ago
  • Investors go first in lien at loan queue

    The risk premium for second lien US loans has widened in recent months, while first lien loan margins have gone the other way. It’s a clear signal that lenders are erring on the side of caution.

    3 months ago
  • Fund performance
    A round-up of fund performance

    3 months ago
  • Investors seek oasis as new issues dry up

    US loan issuance has fallen dramatically this year, but many thirsty investors found liquidity in the secondary market or took advantage of plentiful high yield issuance in a record quarter for bonds
     

    4 months ago
  • CLO investors should be looking at CSOs

    At Creditflux’s Credit Dimensions event in New York, structured credit investors were told how synthetic CDOs fit neatly alongside CLOs, and there is no need to pick one over the other

    5 months ago
  • Investments in CSOs can be more fruitful than in CLOs

    Some CSO tranches may off er better returns and provide exposure to higher-rated credit than similar tranches of CLOs. Also, the CSO term curve is steeper and more stable than that of CLOs

    5 months ago
  • CLOs at a glance

    A round-up of CLO performance

    6 months ago
  • Fund performance

    A round-up of fund performance

    6 months ago
  • High yield bonds regain lost ground

    The US high yield bond market experienced its biggest quarter since Q4 2017, with volumes and returns rising as borrowers plumped for secured bonds and the Fed turned dovish on rates

    7 months ago
  • CLOs at a glance
    Managers focus on AUM building via new issues

    8 months ago
  • We can’t hide it any longer, we’re tiering up
    With the opening months of 2019 highlighting a clear class system among CLO managers, there has never been a better time to assess tiering. We find that timing, patience and luck all play a role

    9 months ago
  • 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
     

    9 months 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

    10 months 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

    10 months 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

    11 months ago
  • After early crescendo CLOs end on flat note
    Huge issuance and the end of risk retention ensured the US CLO industry was buoyant in early 2018, but later in the year the term curve flattened, pricing levels became sporadic and volumes dwindled

    11 months 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

    1 year 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.

    1 year 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

    1 year ago
  • Wide CLO pricing need not be a drag
    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

    1 year 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

    1 year ago
  • Tastes change in secondary trading
    Our analysis of the secondary market shows that, since 2013, appetite for CLOs run by tier one managers persists through market dips and rallies.

    1 year ago

30 results found Showing page 1 of 2

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