CLOs

Monroe Capital's latest benchmarked the most senior class of notes to the SOFR, while the rest of the deal is fixed rate.

Distressed debt in the US alone jumped more than 300% in 12 months, high-yield issuance is much more challenging in Europe and leverage ratios have reached a record by some measures.

The middle-market manager's diverse funding sources provide extra dry powder amid industry headwinds, and a head start to 2023 as CLO arbitrage improves.

Many of the biggest buyers of leveraged loans are facing pressure to cut back on their purchases as they run out of time to reinvest their money.

The strains are largely linked to aggressive rate increases by the Federal Reserve and central banks around the world, which have dramatically changed the landscape for lending.

The asset manager is raising $372 million, and managing a portfolio with higher than average rates of turnover and overlap in collateral composition.

European banks are snapping up large pieces of their own collateralized loan obligations, keeping the market for CLOs afloat in the absence of the U.S. and Japanese banks.

Stabilization in the leveraged loan and high yield bond markets has led to an opening for deals as banks try to reduce debt on their balance sheets before the holidays.

Corporate borrowers will consider tapping bond and loan markets in the coming week as lending costs drop and investors snap up debt ahead of 2022's close.

In the proposal, NAIC argues that an insurer purchasing every tranche of a CLO holds the same investment risk as purchasing the entire pool of loans backing the CLO.