Latest news
Latest news
European CLOs have fewer negative cash balances as managers avoid weaker credits
Latest research anticipates further leveraged loan price divergence and wider spreads
Moody's research predicts rise in loans rated B3 or lower in 2026
More articles
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US high yield spreads touched the tightest levels seen in over a decade this week, with the return of mutual and retail fund flows and sluggish supply creating attractive financing conditions for the few borrowers that emerged. -
US retailer Sears has landed a $100m private secured term loan, with a potential further $200m to be secured against the collateral, after the firm announced a fresh batch of store closures that Morningstar said could cause trouble for 16 CMBS loans.
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KKR’s latest global private credit fund will target asset classes seen as undervalued, including UK prime auto loans, Irish SME loans and US residential bridge loans, said portfolio manager Dan Pietrzak on Wednesday.
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KKR closed fundraising for a $2.24bn global private credit fund on Monday that will target private junior and mezzanine corporate debt as well as asset-backed financing, while on Tuesday Barings said it had closed a $1.85bn fund that will invest in private senior secured middle market loans.
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HSBC has hired managing directors in its US healthcare and consumer and retail coverage teams, as well as a new head for its US financial institutions group.
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Banks lined up to close capital relief securitizations at the end of last year, protecting portfolios of leveraged loans, commercial property and project finance.
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The former head of loans and CLOs at BlackRock has joined Alcentra, the alternative fixed income specialist for BNY Mellon Investment Management, as head of US loans and high yield.
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In a quiet start to the US CLO market in 2018, only reset and refinancing deals have emerged so far, but Wells Fargo is predicting a record year of issuance for the asset class. Some investors are pulling back, however, as loan market fundamentals show signs of deterioration.
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The Carlyle Group has raised over $800m for its Carlyle Structured Credit Fund, which will invest in the CLO debt of third-party managers in the US and Europe.
