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BNP Paribas AM euro CLO makes history by triggering event of default
9 years ago
A 2004 vintage CLO managed by BNP Paribas Asset Management has hit an event of default, according to a notice available on CLO-i -
Three 2.0 CLOs placed on negative watch by S&P as defaults rise
9 years ago
Standard & Poor’s has placed three US CLO 2.0 tranches on negative watch in the last week, citing weakening credit quality and declining spreads in the deals’ underlying portfolios -
Energy credits account for 49% of problem loans, reports Fitch
9 years ago
Energy companies are still overrepresented in the list of near-term default risks, according to research published yesterday by Fitch Ratings. -
Puerto Rico CDS settles with little open interest
9 years ago
CDS auction brings settlement of 58 cents on the dollar for defaulted island -
Energy-heavy CLOs set for more pain as oil defaults edge towards 18%
9 years ago
Continued weakness in the oil and gas markets will likely cause two more energy-related defaults in August, according to an announcement from Fitch Ratings -
CDS holders voice suspicions over bankruptcy timing as Oi talks resume
10 years ago
Isda's credit determinations committee meets for third time to determine timing of Oi's default timing -
Manager's legacy CLOs suffer downgrades despite strong equity returns
10 years ago
Mezzanine tranches from two US CLOs have been downgraded, but the pre-crisis deals are still making strong equity distributions -
CLO managers take a hit on Southcross
10 years ago
CLO-i data shows that several managers have taken a hit from their exposure to Southcross Holdings -
CLO investors sweep into options to clean up grimy loan portfolios
10 years ago
CLO investors are heading to the options market in droves in order to keep their portfolios clean -
Points up front: beware Thursdays
10 years ago
Investors in UK peer-to-peer lending platform Funding Circle are learning the harsh realities of credit risk -
CLO manager makes whopping $32.8 million quarterly equity distribution
10 years ago
Working out is good for you: a CLO manager has made equity-like returns thanks to two defaulted loans -
Southcross bankruptcy puts further pressure on CLO coverage ratios
10 years ago
Some CLOs are expected to take a sizeable hit after Southcross Holdings became the latest energy-related name to file for bankruptcy yesterday -
CLOs set to be poisoned as Peabody's canary goes belly up
10 years ago
In this metaphor, the canary is Peabody's 2022 second lien loan. -
Valeant goes in search of a remedy with loans in danger of covenant breach
10 years ago
Painkillers won't do - large loan issuer Valeant Pharmaceuticals is going to need something stronger as it looks to stave off a possible default -
Retail investors feel the pain as German mid-market defaults soar
10 years ago
The collapse of one of the biggest borrowers in Germany's smaller company bond market has cast doubt on the future of the €10 billion mittelstand bond market -
Isda rules against Novo Banco succession event
10 years ago
Isda's determinations committee decides that Novo Banco move was no succession -
Verso default triggers CLO 2.0 market's first OC breach
10 years ago
A 2013 CLO US CLO has become the first post-crisis deal to trip an overcollateralisation test, according to CLO-i -
Par building may not be enough to cure CLO test breaches, finds Nomura
10 years ago
Par building by CLO managers may not be enough to stave off the impact of recent defaults on overcollateralization test buffers, according to a research note from Nomura -
Energy sector default rate rises to 9%, finds Fitch
10 years ago
12 month trailing default rate up to 9% for energy names, says rating agency. At the end of January this figure stood at 7%. -
Loan sell-off not justified by fundamentals, says Highland's Okada
10 years ago
“We're in an environment where investors are far more distressed than their investments,” said Okada at a round table event last week -
Loan holders hit out at Paragon bankruptcy plan
10 years ago
Holders of Paragon Offshore term loans, which are widely held by CLOs, have vehemently opposed the company's bankruptcy plans, according to a report by Debtwire -
1999-style default party could hit CLO triple Bs, says Citi
10 years ago
Low prices mean that CLO mezzanine should make double-digit returns even under scenarios that cause a cashflow interruption -
CLOs stand to gain from Paragon restructuring
10 years ago
Around 8% of CLOs own Paragon Offshore term loans, according to CLO-i -
Commodities slump claims its latest victim as Noranda is canned
10 years ago
According to CLO-i data, around $210 million of Noranda's 2019 term loan is held in CLOs, with 83 deals holding some exposure to the name. These deals are set to take a hit after Noranda filed for bankruptcy yesterday -
Patriarch steps down from Zohar CLOs ahead of family office conversion
10 years ago
Lynn Tilton's Patriarch Partners has resigned from its role as manager on three Zohar CLOs
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