CLO managers brace themselves for Acosta bankruptcy
CLOs hold $402.5 million exposure to Acosta, a sales and marketing agency that is looking likely to file for Chapter 11 bankruptcy soon. A total of $163.7 million of Acosta’s term loan left the hands of CLOs in 2019

DFG seeks secondary loans for new series of Pulsar CLOs
DFG Investment Advisers is launching a new line of CLOs with collateral sourced entirely in the secondary market

Established firms say managers new to European CLOs will struggle to attract assets
New managers making their way in the European CLO market may have a fight on their hands, with sources noting the difficulty these firms face in getting sizeable allocations.

CBOs aren’t fixated on interest rate moves
The loan sell off at the start of this year highlighted that CBOs are not a play on interest rates or bond prices — they’re taking advantage of the flexibility to rotate between loans and bonds

Few CLOs charred by Murray bankruptcy
25 CLO managers hold  $389.6 million exposure to the debt of coal company Murray Energy Holdings, which filed for Chapter 11 bankruptcy in the Southern District of Ohio on Tuesday, according to the latest trustee reports from CLO-i   

Largescale triple C downgrades 'look inevitable' due to loan performance, says TwentyFour
US leveraged loans are underperforming and a wave of downgrades to triple C ‘looks inevitable’, according to TwentyFour Asset Management

US insurer to allocate $1 billion across CLO tranches, corporate loans and bonds
Managers have until Tuesday to submit proposals to New York State Insurance Fund, which is seeking CLO, bank loan and high yield corporate bond managers to invest $1 billion in separately managed accounts 

Euro loan trading: Swissport flies into CLO hands
A total of €339.9 million of Swiss airport business Swissport boarded CLOs in August, making it the most popular issuer in August

US loan trading: CLOs treated to DaVita as Refinitiv outflows escalate
US CLO managers were treated to a $2.75 billion term loan B by kidney dialysis services provider DaVita, which became the most popular issuer in August. And Refinitiv US Holdings continued to be the most sold US issuer by CLOs, according to the latest trustee reports from CLO-i 

Highland files for bankruptcy
Highland Capital Management filed for Chapter 11 bankruptcy in the Bankruptcy Court in the District of Delaware (Docket No. 19-12239)

Deluxe bankruptcy causes picture to blur for CLOs
CLO managers hold $598 million of the video services company’s term loan, according to the latest trustee reports from CLO-i

Brigade moves quickly to line-up Libor replacement
Brigade Capital Management is engaging with its CLO investors to talk about a replacement benchmark for Libor.

CLOs finally get green cards as ESG makes its way to US market
The rapid rise of environmental, social and governance (ESG) guidelines in financial markets has made its way across to the US CLO market, with several managers and investors last month announcing strategies geared towards ESG compliance.

Spectre of low loan recoveries fails to spook CLO market
CLO managers and equity investors are optimistic despite recent reports which suggest that future US loan recovery rates will be lower than during the financial crisis. 

CLOs take advantage of valuations to cash out of Refinitiv
Refinitiv US Holdings was the most sold US issuer in July immediately following the announcement that the London Stock Exchange Group was to buy the firm.

Euro loan trading: Areas caters to CLOs while managers cast away Nets
Global travel catering services Areas flew off the shelf after it allocated its €1.05 billion term loan B, with 50 CLO managers buying the loan

Axa IM promotes global head of loans and private debt following Levilain departure
Axa Investment Managers has promoted a new global head of leveraged loans and private debt to fill the vacancy left by Jean-Philippe Levilain, who has left to join CBAM

US hedge funds use leverage to buy European CLOs
Boca Raton-based hedge fund manager III Capital Management is leading the charge as US hedge funds employ leverage to buy European triple A-rated CLOs.

CLO managers look to move away from ‘spiky’ triple Cs
CLO managers are in the process of de-risking their portfolios by rotating out of triple Cs into less risky credits following a volatile month in markets, according to multiple sources. Creditflux analysis shows that, for the past couple of years, managers have become emboldened with triple C and B3/B- loans making up 25% of the portfolios of 50 US CLO managers.

CLO managers went to CCC, to see what they could CCC…
CLO portfolios are drifting towards low single B and triple C names. But triple C buckets are not in danger of overflowing, so managers can be even more aggressive 

CLO managers cash in their chips as Caesars trade pays off
Caesars Entertainment was the most sold issuer in June with $158.8 million of its term loan sold out of CLOs.

Euro trading: Vue proves to be leading light for CLOs, but liquid bonds play crucial support role
Vue International's newly issued loan starred in 25 CLO managers' portfolios, which bought €239.4 million of the loan in June and made it a box office hit among CLO managers, according to CLO-i.

US loan trading: Caesars marches out of CLOs as Blackstone rolls in
With $158 million of its term loan leaving the hands of CLO managers, Caesers Entertainment was the most sold issuer in June

BlueMountain buyout to bring CLO equity shift, funding pledge and Feldstein payout
BlueMountain Capital Management’s co-founder Andrew Feldstein looks set to receive a substantial pay-out in common shares of Assured Guaranty, which has agreed to buy the manager for around $160 million and has outlined a three-year plan for its CLOs