Latest news
Latest news
State of New Hampshire's innovative bond gets Ba2 rating
Falling leveraged loan prices promise tantalising returns, but the risk of defaults is rising
Some managers are choosing loans conservatively to avoid losses, but they will struggle to improve returns
More articles
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Investcorp's Credit Management business is one of the largest CLO issuers in Europe, with 24 deals under its belt, and a firm focus on the large cap, broadly syndicated market. GlobalCapital spoke to its boss, veteran leveraged finance investor and banker Jeremy Ghose, about how the coronavirus crisis has changed the LBO market, what CLOs will look like in the future, and the grim outlook for direct lending. -
European corporates are asking lenders to switch their loans to semi-annual interest payments, in some cases, which could feed through to CLO coupons as well.
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Spreads on triple-A CLOs are tightening, with investors predicting a snap back to pre-pandemic levels this summer.
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GSO/Blackstone and Napier Park both priced post-covid CLOs on Thursday, with GSO finding new tights for the European CLO market since its reopening.
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Owl Rock Capital, an alternative asset manager focused on middle market credit, has hired Jesse Huff from Oaktree Capital Management.
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The possibility of CLO downgrades from the major rating agencies is creating a difficult situation for insurance companies, many of which have bulked up their investments in lower rated bonds in the last two years.
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CLOs structured in the post-pandemic world will see tighter documentation, but more flexibility on ratings, as the market adapts to the lessons learned through the Covid-19 crisis and ushers in a new ‘CLO 3.0’ era for the European market, according to Investcorp Credit Management boss Jeremy Ghose.
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A gathering storm of bankruptcies among US retailers rolling in behind a swelling wave of loan defaults is bringing distress to the US CLO market, forcing both managers and investors to adjust their approach, writes Paola Aurisicchio.
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In the special situations arena there are few situations quite as special as a global pandemic, and few opportunities quite as large for investment firms that manage to navigate the sell-off in corporate credit, bank loans, CLOs and securitizations correctly. GlobalCapital spoke to Dan Zwirn, founder, CEO and CIO of Arena Investors, and a 25 year veteran of distressed debt and special situations investing about buying free volatility, where to play in retail, and why the CLO market has much further to fall.
