Compression plays out as HY and European CLO double Bs outperform
Investment grade and high yield credit spreads have tightened in sync with each other this week, but CDS and CLOs alike underline that the big theme over the past month has been compression between investment grade and high yield

Global CLO league tables - October 2020 YTD
Global CLO league tables - October 2020 YTD

Global CLO league tables - August 2020 YTD
Global CLO league tables - August 2020 YTD

CLOs at a glance: CLO managers are quite partial to a refi
There was a wave of CLO partial refinancing in August as equity investors capitalised on lower interest rates to cut the coupon on fixed rate tranches

Points up front: How much do I owe you?
Payment systems in the credit industry had a bad August

Credit fundraising: distressed keeps in favour but CLO ETFs emerge
Five months into global lockdown and distressed debt funds are still proving popular, but several managers have found success pitching other types of credit strategies

Managers weigh up matters of principal
CLO managers that were able to avoid OC traps made double-digit equity distributions in Q2, despite the headwinds. But these firms tended not to be among those that built the most par

Global CLO league tables - July 2020 YTD
Global CLO league tables - July 2020 YTD

CSOs start printing again with new money ready to invest
The synthetic bespoke market is putting behind it the turmoil of recent months, with a pipeline of new CSO transactions starting to price and a swelling supply of new money lining up to invest.

CLO managers offer views on ESG for upcoming PRI report
Principles for Responsible Investment (PRI) is set to unveil a report detailing results from its ESG structured credit survey in the next few months, and the institution anticipates that this will be a launch pad for further investigation about ESG integration into the asset class

Fund performance: Credit funds post double-digit gains
June returns have once again been led by CLO funds, as seven out of the top 10 belong to our CLOs category.

Don’t be a hero: managers opt to go market-neutral
There’s yet more volatility in store later this year — that’s the consensus according to credit portfolio managers that have spoken to Creditflux. What they are unsure about is the scale and direction of this movement, which is leading them to prune their portfolios with an emphasis on market-neutral tactics

They said it: "Imagine a garden party and all of a sudden a big wasp shows up"
On Creditflux’s US CLO webinar last month, Napier Park’s head of US CLO investments Serhan Secmen described the March sell-off as a garden party

New funds move in as tranche trades take off
Synthetic structured credit funds are proving popular with investors amid a spike in index tranche trading

Points up front: Introducing Downton Flux

During last month’s broadcast of the Creditflux Manager of the Year, we were inundated with messages of congratulations for the award winners via a live feed...

Beneath the triple C: downgrades hold steady as Travelport loses its luggage
For the second month in a row downgrades to triple C steadied, with just under $9 billion of CLO loans falling to this rating across 34 corporate borrowers

GoldenTree streamlines multi-arranger approach with upcoming euro CLO
GoldenTree Asset Management is marketing a new short-dated European CLO

Global CLO league tables - May 2020 YTD
Global CLO league tables - May 2020 YTD

Global CLO league tables - February 2020 YTD
Global CLO league tables - February 2020 YTD

Global CLO league tables - January 2020 YTD
Global CLO league tables - January 2020 YTD

Global 2019 CLO league tables at a glance
Global 2019 CLO league tables at a glance

Global CLO league tables at a glance - November 2019 YTD
Global CLO league tables at a glance - November 2019 YTD

European CLO round-up: new look turbos power up junior CLO tranches
Junior CLO debt investors are getting more defensive and this has resulted in the emergence of new-look CLO turbo tranches

Global CLO league tables at a glance - October 2019 YTD
Global CLO league tables at a glance - October 2019 YTD

Global CLO league tables at a glance - September 2019 YTD
Global CLO league tables at a glance - September 2019 YTD