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Investors seek oasis as new issues dry up
US loan issuance has fallen dramatically this year, but many thirsty investors found liquidity in the secondary market or took advantage of plentiful high yield issuance in a record quarter for bonds5 years ago -
Net short language could force lenders to sell at a loss
5 years ago
Signs are growing that ‘net short’ provisions in bonds and loans are getting closer to hitting CDS investors, with two instances in recent weeks of the language expanding both in geographical and functional remit. -
European loan trading: CLO managers snack on Ifco loans
5 years ago
35 CLO managers were holding €364.2 million €364.2 million of IFCO’s loans in April – all at par -
Doing CLOs is hard work as recovery lags
6 years ago
There’s scrutiny on staffing, structures and, of course, ‘the challenging arb’. But Q4 volatility created opportunity, which led speakers at the Creditflux CLO Symposium to ask for more -
High yield bonds regain lost ground
The US high yield bond market experienced its biggest quarter since Q4 2017, with volumes and returns rising as borrowers plumped for secured bonds and the Fed turned dovish on rates6 years ago -
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 -
Moving on from the late 2018 hangover
6 years ago
It might be too early to call a full recovery, but it’s fair to say that the US loan market is back on track with $48 billion of institutional issuance in 2019 — 88% of which is made up of new issues -
Just because there have always been loan fees doesn’t mean they are the right way of doing things
6 years ago
Scrapping loan transfer costs of up to €3,500 per transaction is a bridge Europe should cross for the sake of liquidity -
Libor rise gives timely boost to US loan yields
7 years ago
Competition for US loans among CLOs, ETFs and mutual funds is keeping margins in check. However, the 60bp increase in Libor in Q1 means there’s still reason to pile into the loan market -
Reg cap trades spawn a secondary market, but not as we know it
7 years ago
It’s small, and at its early stages, but a secondary market is emerging for risk transfer deals -
Spotlight: Local exchange carriers - calling for rescue on the M&A hotline
7 years ago
Growth-starved US phone companies are seeing consolidation as the best way to improve performance
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