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US loan trading: CLO managers on cloud nine after Ultimate Software allocations
6 years ago
CLO managers took down about 27% of Ultimate Software's loans in April, when the cloud operator issued its $2.3 billion first lien term loan due 2026, according to CLO-i -
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 -
Loan trading round-up: CLO managers fall out of love with First Data
6 years ago
An analysis of loan trading among CLO managers in February shows that First Data is falling down the pecking order with managers selling $182 million of the company's loans -
US CLO managers look to scale flat WALs in search of flexibility
6 years ago
The anticipation of a downturn in the credit cycle has made investors turn their attention toward document provisions that give CLO managers flexibility -
Affinion skipped interest payment impacts small number of CLOs
6 years ago
Only two CLO managers could be affected by the debt of Affinion Group, who skipped its scheduled 19 Feb interest payment ($22.2 million) to its first-lien 2022 term loan holders -
CLOs are not like CDOs, says Barclays, but warns of loan quality impact
6 years ago
CLOs are far removed from the kinds of structured products that contributed to the 2008/09 global financial crisis, Barclays has argued in a wide-ranging research piece this week -
First Data takeover foreshadows inflows for CLOs that hold the debt
6 years ago
CLO managers that hold portions of First Data Corporation’s $11.5 billion syndicated term debt could find themselves with lots of cash to redeploy later this year if Fiserv completes its acquisition of the financial services company -
Xtract: CLOs may be further squeezed by one-week Libor Election
6 years ago
There are 30 loans which could, at the drop of a hat, switch to one-week Libor benchmarks, according to a report by Xtract Research -
Term structure is being developed for floating rate benchmark SOFR, says LSTA
7 years ago
The Secured Overnight Financing Rate, known as SOFR, is being developed into a term structure -
Shrinking spread cushions prove hard for CLOs
7 years ago
Falling loan spreads are placing ever tighter constraints on CLO managers’ choice of investments just as the loan supply itself is declining -
Fees on the line as CLO investors fight back over ramp-up failings
7 years ago
CLO managers globally are being chastised for failing to deliver on their model portfolios. -
CLOs dodged recent loan defaults, according to Wells Fargo
8 years ago
CLO exposure to three recent US loan defaults has been minimal, according to Wells Fargo research
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