LSTA hires new director of policy research
The Loan Syndications and Trading Association has appointed a new director of policy research

CLO double Bs offer 700bp premium versus high yield bonds, says Oaktree
The yield premium offered by double B CLO paper compared to corporate high yield bonds with the same rating has exploded to 700 basis points, according to a new episode of Oaktree Capital Management's podcast series The Insight

Columbia names new loan and CLO head as Howard announces retirement
Columbia Threadneedle Investments has appointed the next head of its US bank loan team after current head Jerry Howard announced his retirement effective in January next year

Recent US bankruptcies show non-DIP lenders wiped out
A trio of recent US bankruptcies is testing the CLO market's recovery assumptions, according to Debtwire’s Restructuring Database of recent court filings.

Slow pace of loan prepayments increasing CLO tranche WAL, finds Barclays
Prepayment rates in the leveraged loan market have dropped to post-financial crisis lows, thereby increasing CLO debt tranches' weighted average life and slowing the pace of amortization for deals that have left reinvestment, according to new research published by Barclays

Jump in loan prices sees CLO primary stall in the US
US CLO primary supply almost ground to a halt in June with just three transactions printing in the first half of the month

Leveraged loan market shrinks as CLO trading grows
A lack of primary issuance has caused the leveraged loan market to shrink this year for the first time since the aftermath of the global financial crisis, according to market sources.

Do amend and extends now before big chunk of CLOs exit reinvestment, says BofA
Research analysts at Bank of America are recommending CLO managers complete amend and extend activity before a wave of transactions exit their reinvestment periods later in the year

34% of CLOs rated by Fitch out of reinvestment
34% of the CLOs rated by Fitch Ratings have left their reinvestment periods including six deals that exited in May, the rating agency said in a note to clients on Thursday

Student loans emerge as headwind for loan market, says BofA
American graduates are poised to resume student loan repayments in August, and new research from Bank of America suggests the change could be a headwind for the loan market due to weaker consumer demand.

Octaura launches loan market's 'first comprehensive trading platform'
Octaura, the fintech startup offering electronic trading for loans and CLOs, today announced the launch of its comprehensive syndicated loan trading platform that it says is the first on offer for the market

CLO market finds feet again after ‘miniature credit crunch’ blows up spreads in March
Markets were rocked by what some observers have called a “miniature credit crunch” in March, with disruption beginning with the collapse of Silicon Valley Bank and ending with UBS’s takeover of Credit Suisse.

Defaults rise yet fears of low recoveries hurt even more
Defaults and Chapter 11 filings are picking up this year amid tougher economic conditions for borrowers

Antares adds to new syndicated loans unit with portfolio manager hire from Apex
Antares Capital has hired Andrew Stern as managing director and portfolio manager responsible for liquid credit

Pimco promotes global lev fin and CLO head to managing director
Pimco's leveraged finance head is one of five senior officials promoted to managing director

Barclays won't let sleeping dogs lie after another Newfoundland CLO reset
Newfoundland CLO, the long running and world's largest balance-sheet CLO, has been given a new leash of life by upsizing in a reset yesterday, according to announcements from Moody’s and Scope Ratings.

Octaura hires former Morgan Stanley loan portfolio executive
Octaura, the startup firm founded to facilitate the electronic trading of loans and CLOs, has hired a former head of Morgan Stanley's loan portfolio group

Stunning January rally means CLOs are back in business
Longtime observers of the CLO market tell Creditflux they have “never seen the market move so quickly” after a rip-roaring January saw a spectacular rally in both loans and CLO debt.

CLO equity investors join forces to take on lowly loan CSAs
Private equity firms have held the upper-hand against US loan investors in the past few months, but the largest CLO equity investors in the business are working together to redress the imbalance between PE sponsors and creditors

Octaura's first fully electronic syndicated loans trade

Lights go out for Heritage Power with 120 CLOs left in the dark
US based power plant operator Heritage Power filed for chapter 11 bankruptcy in the bankruptcy court of Texas on Tuesday night, impacting $124.45 million of assets held by 120 US CLOs.

Serta Simmons makes its bed again with default leaving CLOs with a restless night
$172.5 million of CLO assets defaulted on Monday after Serta Simmons Bedding filed for chapter 11 bankruptcy.

CLO community pulls together to block Wellpet loan amendment
The power the CLO community can wield – if members stick together – has been underlined after a loan amendment proposed by Wellpet failed to pass

Loan amendment alert: Wellpet offers 10bp CSA
Wellpet has issued a loan amendment request with a view to including a 10 basis points credit spread adjustment (CSA), market sources say. Although this is an improvement on recent amendments it still falls short, according to CLO investors.