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BWICs spike and spreads widen but market remains constructive
Resets and refis prominent in pipeline as loan market softens, offering respite from repricing wave
Dasha Sobornova joins from Akin Gump with experience across asset classes
Trade body for levfin investors turns to leading rating analyst
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S&P Global Ratings said on Tuesday that a post-crisis borrowing binge has put US corporate leverage at an all-time high, leaving firms vulnerable to downgrades and defaults. But a strong US economy and receptive capital markets are soothing investor concerns for now at least. -
Corporate and structured credit specialist CIFC is building out of its European operation, hiring Dan Robinson from Apollo Global Management as CIO.
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The early part of last week saw US high yield bond funds enjoy big inflows, with spreads grinding to post-crisis record tight levels. But a spike in Treasury yields on Friday has helped reverse some of those flows, and polarise investor sentiment on the asset class.
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Thomas Falkus has joined White & Case as a partner in its global capital markets practice to help expand the firm’s CLO and securitization business.
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American Tire Distributor (ATD) filed for Chapter 11 bankruptcy on Thursday after battling shifts in the tire industry that saw two major manufacturers cut ties with the firm earlier this year.
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New issue euro CLO issuance has pushed past last year’s tally, with more deals still moving through the pipeline, but loan market technicals may erode the arbitrage for new deals, said Bank of America Merrill Lynch.
