Senior credit risk takers lose out as equity tranches keep rallying
A sharp widening in the European credit index equity-senior tranche basis in recent sessions rewarded investors going long equity risk, as  sellers of senior tranches lost money.

Broker-dealer hires ex-Guggenheim CLO trader following recent exit
The sun has not yet set on a broker's CLO trading desk: it has swiftly hired a new CLO trader after the loss of a key team member

Large credit hedge fund makes it three CLOs in 2013
A hedge fund manager yesterday priced its latest CLO. It worked with Credit Suisse for the first time

How to value a coco
Converting default risk into conversion risk provides a method for valuing contingent convertibles, according to Patrick Cheridito and Zhikai Xu  

Manager plans novel incentive fee structure for new CLO
A forthcoming CLO could trigger incentive manager fees earlier than most other deals in the market

$25 million CLO 2.0 equity block attracts strong bids in secondary
A $25 million slab of equity in a CLO managed by one of the biggest asset management firms, traded last last week 

CLO manager lands in the rough with key man event
A CLO manager is swinging into action following the loss of one of its key management personnel

Broker-dealer takes a bow as CLO arranger with refi mandate
A broker-dealer widely expected to break into CLO arranging has landed a mandate - but not with the manager most had expected

GSO fund buys large equity stake in recent GSO CLO
A GSO CLO investment fund was active in the secondary market last month, according to its latest investor report

European high yield basis turns negative as record supply hits cash spreads
Issuance in European high yield has sent cash yields wider than credit default swaps

2013 becomes record year for CLO 2.0 issuance after two deals price
There are signs of growing activity in the CLO market as we near the end of Q3 with year to date volumes smashing past last year's $56 billion

Credit hedge fund prices CLO number 10 via Morgan Stanley
A large hedge fund in New York has reached a milestone by issuing its 10th CLO

Credit opportunities fund calls it right with Italian RMBS trade
Prytania sees big profits from Italian RMBS deal being called earlier than expected. 

Broker-dealer lands mandate to launch credit hedge fund's latest CLO
A specialist in arranging mid-market CLOs has secured another big CLO mandate

Manager sees another of its legacy CLOs line up for liquidation
Contents from a $47 million loan b-wic due today strongly suggests that another CLO run by a large asset manager is being liquidated.