Low margins and scarcity of LBOs hurt term loan revenues
Despite a resurgence in global term loan B (TLB) volume, which grew by 30% to reach $416.6bn as of December 2023, revenue earned by arranging banks on these facilities only totalled $3.0bn

Credit hedge funds
Credit hedge fund performance

Credit funds at a glance
Credit funds at a glance

November 2023 US Leveraged Highlights
Debtwire today releases the November 2023 US Leveraged Highlights, featuring key trends in the leveraged loan and high-yield bond markets

Macquarie hires head of leveraged credit
Macquarie has poached the head of European and UK fixed income at Alliance Bernstein for a role in Philadelphia

Credit hedge funds
Hedge fund performance tables

Credit funds at a glance
Fund performance; people hires; fundraising 

State of the US Loan Market 3Q23 - Xtract Special Report
The US leveraged loan market continued to languish in 3Q23, but the average covenant score for large Sponsor loans bounced back somewhat from its precipitous decline in 2Q23 according to this special report

Lumen Technologies ad-hoc group preps competing proposal
The refinancing of Lumen Technologies, currently held by 1311 different CLOs with a combined principal balance of USD 3.8bn, took a new twist today as details of a competing proposal emerged

Millennium Advisors reveals new global head of US credit trading
New head of US credit trading is the latest in a string of senior-level new hires at the firm.

Fortress taps BlackRock for sponsor coverage hire
Fortress Investment Group has hired a new director to focus on sponsor coverage and origination in in Fortress’ credit business

Aquarian buys minority stake in Obra
Obra Capital revealed in Monday that it had sold a minority equity ownership stake to Aquarian Holdings

September 2023 US Leveraged Highlights
Refinancing continues to amplify leveraged debt volume in Debtwire's latest report featuring key trends in the leveraged loan and high-yield bond market

Packers’ recovery chances debated amid industry-wide child labor investigations
A popular CLO credit, Packers Sanitation Services (PSSI), made the news last week in Debtwire

Loan Highlights 3Q23: Loan volumes remain significantly lower than historical averages
Capital markets loan activity continued to struggle in the third quarter of 2023, as issuers in the Americas and Europe held off from tapping markets

Clifford Chance expands US leveraged finance group
The US leveraged finance team has hired new partner, and transfered another partner from Clifford's London office

US loan market rallies despite increasing stress and default rates
Casual observers of the US broadly syndicated loan market may be forgiven for feeling a little confused at the moment. Despite rising default rates and growing stress, loan prices continue to rally, and the primary pipeline is busy.

Fund performance
Positive August for credit sees CLO funds on top again

Credit funds at a glance
Ucits see red in a tough June for returns

Credit hedge funds
Credit hedge funds performance data

ICG taps Apollo partner as head of US liquid credit
The new head of US liquid credit has been tasked with helping grow ICG's US credit business

Illinois police pension fund opens search for credit managers

The fund plans to start investing in US leveraged loans and increase allocations for private credit

Capital Four beefs up US credit team with three new hires
The Danish-based credit manager is expanding its US presence

Double-dip refinancing hits US leveraged loan
Wheel Pros, a name still held by 219 CLOs with $414 million of total principal, announced details of a new refinancing deal last week featuring a controversial double-dip structure

In Kirschner fallout, lenders may be asked to rep that they aren’t investors

Our Xtract Research team explores an unexpected outcome from the recent Kirschner ruling