CLOs

Risk premiums for new transactions, which package and sell leveraged loans into tranches of varying risk and potential return, have tightened to pre-pandemic levels and Wall Street predicts a rise in sales in 2021.

Deals, trends and research in structured finance and asset-backed securities for the week of Nov. 28-Dec. 3

DCI, which oversees about $7.5 billion in assets, will become a part of Blackstone’s $135 billion GSO operation, which was recently rechristened Blackstone Credit.

York Capital Management told its investors this week that it was all but getting out of the hedge-fund business to focus on its $8.5 billion in longer-term products.

U.S. bankruptcy filings have slowed nearly to a halt, but they’re expected to pick up next year, led by companies that piled on debt to survive this year’s pandemic and election-related volatility.

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.

The European Union's first social bond sale, totaling 17 billion euros, was 14 times oversubscribed, meaning the EU could have sold 200 billion euros worth of bonds. That indicates a market that’s structurally underserved.

investors need to remember that speculative-grade companies aren’t immune from going bust, no matter how wide open the debt markets might be.

Apollo Global Management Inc. board members are investigating co-founder Leon Black’s ties to disgraced financier Jeffrey Epstein after more information emerged this month about their longtime business dealings.

Canyon Partners, the $24 billion hedge fund founded by Josh Friedman and Mitch Julis, is raising a new vehicle to make bets on securitized credit not directly targeted by central bank intervention, according to a person familiar with the matter.

As the pace of large U.S. company bankruptcies stabilizes, escalating tensions between distressed companies, private equity owners and creditors signal more bruising Chapter 11 filings to come.