Credit fundraising: Dubai manager gets in on the act as direct lending takes off
Shuaa launches credit fund in the Gulf as Ares, Contingency, HPS and Perceptive are among those to close billion-plus funds

Details emerge on nature of Revlon payment 'error' and lender attitudes
Fresh details have emerged on the nature of the ‘operational error’ Citi says took place when it transferred $900 million to Revlon loan holders

CLOs stuck with $100 million of bankrupt TNT Crane's debt
14 CLO managers hold $92.5 million debt of TNT Crane & Rigging, which filed for chapter 11 protection in the US Bankruptcy Court For The District Of Delaware yesterday

Citi files lawsuit against nine more lenders over 'accidental' $900 million Revlon transfer
Citi has filed a new lawsuit against nine more asset managers regarding its transfer of $900 million to Revlon lenders, which Citi says was made mistakenly. The bank is looking to claim the money back against lenders 

LP round up: horseshoe does the trick for Pimco and other distressed managers
Institutional investors poured $2.7 billion into credit this week through 14 managers, according to board documentation seen by Creditflux

CLO double Bs on sale as sub-investment grade rally fizzles out
After more than a month of rapid tightening, CLO double Bs trended wider last week by roughly 60 basis points, as the market for these sub-investment grade tranches stabilises in the mid-800s

Light at end of tunnel as S&P puts two loan issuers on creditwatch positive
Panellists at IMN's CLO and leveraged loan webinar were optimistic about the future of their markets as S&P makes first positive rating action on leveraged loan issuers since the pandemic outbreak

OC health check: US CLOs show improvement as first euro CLOs breach multiple tests
15 deals reported a breach in an overcollateralisation test last week according to the latest reports available on CLO-i, including one European CLO and 14 US broadly syndicated loan CLOs.

Flex CLOs tap mass downgrades to fill big triple C buckets
CLO managers are being hampered by the sheer volume of corporate credit downgrades to triple C, leaving the small cluster of triple C-flex CLOs to capitalise

CLOs nurse $172 million of Quorum's debt following bankruptcy - but recovery prospects look good
CLOs hold $172.9 million of the debt of US hospital operator Qurum Health Corporation, which filed for Chapter 11 in the US Bankruptcy Court for the District of Delaware last week

We’ve survived before, we can do so again

We’ve survived before, we can do so again
$7.8 billion of CLO collateral, split evenly between the US and Europe, is in the loans that have fallen fastest in the past month. But short term CLO pain will bring opportunities for building par

Spreads tighten as HPS adds to 2017-vintage CLO refis
Short CLO spreads tightened today as HPS Investment Partners refinanced a 2017 deal with the triple As printing at 103 basis points over Libor

HPS and Nomura team up in first-time CLO partnership
HPS Investment Partners has teamed up with Nomura for the two firms' first CLO transaction as a partnership

CLO pipeline: refis can't wait till after summer
The CLO market in both the US and Europe looks to be slowing down in the near future with only two deals added to the running pipeline.  

Enhanced CLOs are no more enhancing than run-of-the-mill distressed funds
Triple C-heavy CLOs that try to time the market may be paying for options they never use

HPS scores tightest print on Friday as CLO volumes soar
HPS Investment Partners stood out from the pack on Friday with some of the tightest debt execution on a day in which a huge $2.89 billion CLO paper was brought to market in the US

Controlling equity stake in 2018 CLO fails to trade in secondary market
Over 90% of an equity tranche from a 2018 Sound Point Capital Management CLO was available on b-wic yesterday but failed to trade  

Correction: US CLO round-up: newcomers make waves in CBOs and mid market
The CLO market is showing little sign of constraint as three new names entered the market last week – two debut middle market deals priced while one US CBO closed

HPS shakes things up with first three-year CLO
HPS Investment Partners has shaken up its CLO reinvestment strategy to price its first short dated-deal

Keep calm and buy corporate loans
Calm heads prevailed in 2018. Markets were volatile and risk retention was supposed to cause problems, but there was no need to panic and volumes went on to break records set in 2014

HPS targets CLOs with new fund
The New York-based manager has raised nearly $100 million for its second opportunistic CLO fund, according to SEC filings

HPS takes leaf from Ellington's CLO book with 50% triple C bucket
HPS Investment Partners has priced its inaugural high-triple C bucket CLO via Citi

HPS markets CLO via Citi with 50% triple C bucket
HPS Investment Partners is set to become the largest manager to date to launch a CLO with a 50% triple C allowance

HPS prices first five-year CLO of the month
HPS Investment Partners has priced a $517 million reset of its 2015 deal named HPS Loan Management 5-2015