CDOs/CLOs

CLO manager Brigade Capital Management has refinanced several tranches of notes to improve the spreads and boost the tranches' ratings.

Owl Rock Technology Advisors, the same team supporting other Owl Rock CLOs, has launched an inaugural middle market CLO that is continuing the CLO manager's tradition of spreading underwriting responsibilities among a variety of banks.

A spike in coronavirus infections through the U.S. holiday shopping season could trigger more bankruptcies from retailers, even after the biggest surge in Chapter 11 filings on record this year.

Signs of weakness are showing in commercial real estate where property values have begun falling. The report also said that hedge fund leverage has remained elevated and that life insurers are reaching debt levels not seen since the 2008 financial crisis

After issuance dampened during the presidential election week, corporate bonds and loans are expected to roll out amid a large trove of post-election earnings reports.

Loan issuers in the hotel/leisure, oil and gas, retail and business equipment/services industries – which make up nearly a quarter of the S&P/LSTA Leveraged Loan Index – are expected to lead the default tally over the next 12 months, according to a report from S&P.

Bankruptcy filings hit a three-month high as investors brace for economic shifts from the U.S. election that could force more large corporations to seek protection from creditors.

Annualized returns have now exceeded double digits for the 10th straight year, despite early 2020 volatility related to the coronavirus pandemic.

Deals, trends and research in structured finance and asset-backed securities for the week of Oct. 23-29

Bankruptcy filings are surging due to the economic fallout of Covid-19, and many lenders are coming to the realization that their claims are almost completely worthless. Instead of recouping, say, 40 cents for every dollar owed, as has been the norm for years, unsecured creditors now face the unenviable prospect of walking away with just pennies - if that.