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
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A small flurry of summer deal pricing activity pushed two CLOs and a buy-to-let RMBS transaction over the line on Friday. -
Recent tweaks to the legal provisions and indentures in US CLO documents might increase the potential risks for debt investors, who may not fully appreciate the implication of the changes, according to a Moody’s report on Thursday.
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A raft of CLOs that were issued during a turbulent 2016 are coming back to the market to be reset, and the higher spreads on offer are drawing attention away from brand new deals, according to sources.
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Goldman Sachs as sole arranger announced a new euro CLO from AXA Investment Managers, the €412.7m Adagio VII, on Wednesday but the primary ABS market was noticeably quieter this week.
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Corporate borrowers are being urged to prepare for the phase out of Libor, but loan documents are not yet up to the job of facilitating an orderly switch to a new rate, warned Fitch Ratings on Tuesday.
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BNP Paribas is combining its primary and secondary activities in US credit markets under a new Global Credit Markets Americas division, with a new head of leveraged finance joining from Deutsche Bank to bolster the firm’s offering.
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Houlihan Lokey has formed a new US leveraged loan syndication platform, HL Finance, with HPS Investment Partners working alongside the firm to underwrite and syndicate deals of up to $1bn.
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SC Lowy Asset Management has hired William Bishop as senior sourcer for distressed debt in London.
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Investment firm EDIFY, headquartered in Luxembourg, has issued its first Euro PP notes.
