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
More articles
-
Reports from Pitchbook and Preqin have found an increased concentration of capital in private debt funds. This is giving larger asset managers a whip hand in dealmaking, while smaller funds struggle to raise and deploy capital, and investors seek the safety of big players ahead of an expected downturn. -
Santander has bought credit protection on two portfolios of undrawn revolving credit facilities, taking advantage of a regulatory decision last year to sharply boost the efficiency of the protection. The deal points the way for banks to cut the costs of providing revolvers, which are usually extended as a ‘loss leader’ for a broader banking relationship.
-
The Federal Reserve announced plans to stress test bank holdings of leveraged loans and CLOs during a hypothetical recession in its annual evaluation of the health of the 34 largest US banks.
-
First Eagle Alternative Credit on Thursday announced that it has raised a $782m middle market direct lending fund, its fourth such investment vehicle to date.
-
HSBC picks regional bosses ahead of expected restructuring — Mizho goes on fixed income hiring spree — Bank of America appoints head of rates trading
-
The European Banking Authority will be consulting on its approach to risk transfer by the end of the second quarter, with the treatment of excess spread likely to be a crucial topic for issuers and investors in the securitization market.
-
Apollo Credit Management priced a $2.14bn CLO on Wednesday, pulling together four older transactions and rolling them into a single refinancing.
-
Fitch Ratings on Wednesday announced that it has appointed veterans Kevin Kendra and Derek Miller as head of US RMBS and head of US structured credit, respectively.
-
Sound Point Capital has rapidly expanded its euro CLO platform with a third deal in less than 10 months, speeding ahead of last year’s other market debutants — most of which are yet to print a second deal in euros. The credit manager has access to equity investment through a deal with Canada’s CPPIB pension fund, which may have helped its swift growth.
