Latest news
Latest news
Borrowers take advantage of robust CLO demand to tighten leveraged loan pricing
New realm for ex-Natixis banker, as HSBC Innovation Bank hires
Manager reset the deal for the second time as the end of its reinvestment period approached
More articles
More articles
-
The second quarter may be slower to pick up for European CLOs, as demand from several big investors softens following three months of brisk issuance. -
Unlike most sectors of US corporate credit, leveraged loans have escaped the volatility of the last couple of weeks. Even a slight cooling in collateralised loan obligations, the market’s biggest investor base, is unlikely to throw this corner of US credit off course just yet, writes David Bell.
-
US middle market CLO volumes are running ahead of the levels achieved in what was a record year for the market in 2017, said Wells Fargo on Wednesday.
-
A “significant” loosening of underwriting standards in US leveraged finance points to the market being in the late stages of the credit cycle, said Fitch Ratings on Tuesday, but market data show bids are still heating up in the sector.
-
The US CLO market has posted its busiest start to the year since the financial crisis, and the torrent of paper is now weighing on spreads which could narrow the arbitrage for deal managers.
-
Moody’s Investors Service downgraded Tesla on Tuesday, citing the company’s liquidity challenges as it struggles to ramp up production of its Model 3 electric car. The move caused the company’s shares — the most heavily shorted US stock — as well as its high yield debt to slump.
-
Kroll Bond Rating Agency has hired staffers from S&P Global Ratings and Goldman Sachs to head a new foray into CLO ratings, as other agencies struggle to keep up with the record pace of issuance in the red hot asset class.
-
The spending bill signed into law by President Trump on Friday contained a provision that allows business development companies to double their permitted leverage, a move that could heat up an increasingly aggressive lending environment in middle market corporate debt.
-
Strong demand for European leveraged loans is driving ratings pressure on European CLO tranches, according to a statement from S&P Global Ratings at the end of last week.
