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Thomas Cook is a lesson for CLOs on unsecured bonds, says TwentyFour AM
6 years ago
The liquidation of UK travel operator Thomas Cook this week has underscored that “unsecured debt has no place in CLOs,” according to a note by Aza Teeuwen, portfolio manager at TwentyFour Asset Management -
CLO managers process Fusion bankruptcy implications
6 years ago
12 CLO managers hold $185.2 million exposure to the debt of the cloud services company, which filed for Chapter 11 bankruptcy -
US clothing brand default leaves CLOs exposed
7 years ago
As many as 100 CLOs are among the holders of debt issued by FullBeauty, which defaulted on 31 October on an interest payment to its $345 million second lien loans -
Kicking the tyres: CLOs survive examination as bankruptcies tick higher
7 years ago
US CLOs are weathering the turbulence triggered by a couple of bankruptcies in the broadly syndicated loan universe, namely US retailer Sears and American Tire Distributors. Those bankruptcies, filed on 15 and 4 October, respectively, have failed to dent CLO structures -
Lynn Tilton files for voluntary bankruptcy for Zohar CLOs
7 years ago
The drawn-out legal battle involving Zohar CLOs has taken a new turn, with the Zohar funds on Monday filing voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code -
Investors nod through wind up of 1.0 euro CLOs
8 years ago
CLOs may have weathered the storm of the financial crisis far better than other structured products, but the tally of CLO defaults is quietly growing
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