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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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Fiscal stimulus and economic growth should keep the credit cycle going for another two years, but the weakening of investor protections will damage loan recoveries when the market turns, said panellists at an IMN investors’ conference on CLOs and leveraged loans on Wednesday. -
North Sea oil and gas operator Ithaca Energy cancelled a planned $350m junk bond on Tuesday, citing "market terms and conditions", after it had earlier tightened covenants on the deal.
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US investment manager Barrow, Hanley, Mewhinney & Strauss has hired two portfolio managers to set up a new bank loan fund and to lead the firm’s efforts across sub-investment grade US corporate debt.
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Permira Debt Managers has hired a CLO structurer from OZ Management (formerly Och-Ziff Capital Management) to structure deals for the firm’s new Providus European CLO platform.
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Oliver Wriedt, co-head of credit investment firm CIFC, has left the business to pursue other opportunities, according to the firm.
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CLO lawyer Sean Solis has left Dechert to join Milbank, Tweed, Hadley & McCoy in New York, the firm said on Monday, with the firm looking to capture market share from new entrants drawn to the sector by the rollback of risk retention rules.
