18 results found Showing page 1 of 1
- 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 other1 month ago
- 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 CLOs1 month ago
A round-up of CLO performance2 months ago
- A round-up of fund performance2 months ago
CLOs at a glance4 months ago
Managers focus on AUM building via new issues
We can’t hide it any longer, we’re tiering up5 months ago
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
Keep calm and buy corporate loans6 months ago
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
After early crescendo CLOs end on flat note8 months ago
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
Europe adapts to harsher CLO climate9 months ago
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
Buy and hold isn’t only option for CLO equity9 months ago
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
Widening whisks market back to 20179 months ago
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.
Wide CLO pricing need not be a drag11 months 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
Tastes change in secondary trading1 year ago
Our analysis of the secondary market shows that, since 2013, appetite for CLOs run by tier one managers persists through market dips and rallies.
Building new ways to evaluate CLOs1 year ago
For CLO investors, there is no longer a question of whether a particular CLO will be reworked; instead, they must judge when, and how dramatically, its terms will change. By Tom Davidson
Who predicted $145 billion of issuance?1 year ago
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
Managers pick spots on CLO curve1 year ago
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.
CLO managers return to new issues1 year ago
The frenetic pace of refis and resets slowed in the third quarter as CLO managers – new and old – turned their attention to building assets
Refinancing and reset options change the face of CLOs2 years ago
The CLO market is going into overdrive, with refis, resets and new issue deals combining to give investors an unprecedented choice of maturities.
18 results found Showing page 1 of 1
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