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Private credit manager wins mandate to invest in Australia and New Zealand
4 years ago
Revolution Asset Management has won a co-investment mandate from QIC, an asset manager owned by the Queensland Government, to invest in credit assets originated in Australia and New Zealand -
Global CLO b-wic round-up: US CLO triple As finally rally while European investors go ‘all in’
4 years ago
A huge supply of $731 million of US CLO triple A bonds pushed US CLO secondary volumes to just shy of $1.5 billion last week -
Eaton Vance prices in line with price talk with first CLO in 15 months
4 years ago
Eaton Vance returned to the CLO primary market on Wednesday with its first new issue deal in 15 months -
European CLO spreads tighten across stack as Oaktree prices new issue
4 years ago
Oaktree Capital Management broke European CLO market records yesterday by pricing the tightest new issue transaction amid the coronavirus pandemic -
Nassau makes CLO primary return with one-year new issue
4 years ago
Nassau Corporate Credit has priced its first new CLO since the coronavirus sell off, with the $251.75 million deal set to run a short one-year non-call period -
CLO pipeline: break's over - time to print deals
4 years ago
The CLO market has taken a slight pause after the independence holiday in the US last weekend, meaning the CLO pipeline includes a backlog -
CLO pipeline: Managers prepare to build on momentum in July
5 years ago
The demand for new issue CLO paper is strengthening with eight US CLOs, one mid market CLO and three European CLOs preparing to print in the coming days -
CLO pipeline: marathon runners and sprinters join the race
5 years ago
Five new CLOs priced last week, four of which were US issues and one European, but they have been ably replaced in the pipeline, with a handful of managers looking to strike while the CLO market is still hot -
CLO pipeline: manager prepares crowning return as primary market gets busy
5 years ago
CLO secondary prices have rallied hard in recent weeks, providing impetus for the new issue deal pipeline to fill up quickly. But one surprise is that Western Asset Management has chosen this moment to return to the primary CLO market, after several years' absence -
Fidelity upsizes two-year US CLO
5 years ago
Fidelity Investments has priced its first US transaction of the year dubbed BallyRock CLO 2020-1 -
Fidelity markets first CLO in 2020
5 years ago
Fidelity Investments is marketing its first new issue CLO of 2020, via Citi -
$350 million of CLO collateral drips into default as oil companies file for Chapter 11
5 years ago
CLOs hold $353 million worth of debt of two oil and gas companies - Ultra Petroleum and Gavilan Resources - which have become the latest casulties of the precipituous decline in oil prices. The pair filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas on Thursday and Saturday, respectively -
Alcentra's 'significant personnel changes' lead pension to terminate private credit contract
5 years ago
Los Angeles City Employees Retirement System has plans to rescind and terminate its private credit contract with Alcentra "based on significant and unexpected turnover of senior personnel”, according to documents seen by Creditflux. The pension is instead looking to redeploy commitments to Crescent Capital -
Beneath the triple C: April showers send buckets overboard
5 years ago
Downgrade waves rocked the CLO market in April as Moody's and Standard & Poor's downgraded 135 corporate borrowers to triple C or below, from ratings above that level. The downgrades put CLOs in rough waters as $41.6 billion of such loans are prevalent in US CLOs while €5.64 are moored in European CLO portfolios – affecting 5.92% of the US market and 4.37% of the European market -
European Investment Fund backs German digital direct lender
5 years ago
German digital direct lender Creditshelf has held a €62 million first close on its inaugural fund offering, Creditshelf Loan Fund, following a €30 million commitment from the European Investment Fund -
Frontier bankruptcy dials up pressure for 90 CLOs
5 years ago
Nine CLO managers hold $217 million of Frontier Communications’ debt across 90 CLOs, as the telecommunications company filed for Chapter 11 protection in the US Bankruptcy Court Southern District of New York -
Fitch puts European and US CLO notes on negative watch after coronavirus stress test
5 years ago
Fitch Ratings has placed six notes from one European CLO, one US static CLO and one US middle market CLO on negative watch, following coronavirus-related stress tests placed last week -
CLO pipeline: CIFC becomes first of big three managers to plan new issue
5 years ago
New issue CLO paper is back on the agenda in the US as six new deals appear in the pipeline. This is a turnaround from the last two months, when CLO refinancings were more popular: 35 refis versus 26 new deals -
CDS takes brunt of coronavirus panic sell-off
5 years ago
European credit derivatives are among the hardest hit assets today amid a broad sell-off, as the fast spread of the coronavirus into Italy, Korea and Iran has brought a reappraisal of the impact it could have on financial markets -
CLO pipeline: new loves kindle as managers finish with old flames
5 years ago
US new issue CLO paper is back on the agenda after a January dominated by refinancings. 14 new deals are in the pipeline, but refis are holding steady with eight of these in the works. CLO refinancings have been the front runners this year, with 22 CLO refis versus 12 new US CLOs. -
CLO pipeline: make some noise for repricings
5 years ago
CLOs may be a bit late to the spread-tightening party, but a hoard of CLO repricings is aiming to make up for it by sheer volume -
Short-dated deals are Man's best friend, but long-awaited GLG CLO prices wide
5 years ago
Man GLG has priced its first new issue CLO in Europe since September 2018 -
CLO pipeline: a refi of nine cuts time (and margins)
5 years ago
Nine US CLO managers are preparing to refinance one of their CLOs to lower financing costs -
CLO pipeline: Medalist ascends podium as new issues pace themselves
5 years ago
CLO managers are biding their time before re-entering the primary CLO market, but this week Investcorp Credit Management, KKR and Medalist Partners are marketing new issue US CLOs -
GLG prepares euro CLO comeback with rare short-dated deal
5 years ago
Man GLG is set to tap the European new issue CLO market for the first time since September 2018
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