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
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HSBC hedged part of its lending to Carillion in a synthetic CLO, Metrix 2015-1, with the latter company’s liquidation announcement on Monday triggering a credit event in the portfolio. -
Spire Partners has hired a senior credit analyst from Tikehau.
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US CLO debt is at its tightest levels since the financial crisis, but with seemingly relentless demand spreads are set to get even tighter once the primary market builds up steam, according to bankers.
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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.
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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.
