CLOs

LibreMax Capital is launching its first ESG-compliant deal through its CLO firm Trimaran Advisors LLC.

A proposed change could resurrect bond buckets, but loan industry observers also point to "covered fund" changes shielding loans from a potentially disruptive court decision.

CBAM Partners co-founder Don Young retells the firm's fast rise into one of the larger CLO managers, and discusses the state of the market.

Regulators are alarmed about banks' rising exposure to high-risk corporate credits and want more data on how they would perform in a recession.

Impact investing has long centered on environmental and social purpose, but governance could make huge strides as an ESG consideration in 2020.

The BSL CLO will have two-year noncall and five-year reinvestment periods, and brings Seix' total CLO AUM to $3.8 billion.

Rising leverage levels and prevalence of cov-lite loans raise concerns despite ongoing macroeconomic growth signs.

The company asserted in the statement that S&P’s action was driven more by the distressed trading levels of Serta’s loans in the secondary market rather than the company’s “financially solvent” status.

The Financial Stability Board's report, released on Thursday, falls short of any lofty expectations to clarify risks within leveraged loans and CLOs. If anything, it may only amplify the paranoia around the asset class.

The $458.87 million HalseyPoint CLO1, via JPMorgan, is the first deal by the firm that was launched in May 2018 by two former Columbia Asset Management portfolio managers.

Fitch’s list of loans with growing risks of downgrades reached $110 billion in December, up 53% year-to-date.

First Eagle, with $99 billion AUM, will expand its presence in structured finance-based direct lending to middle-market firms through the acquisition by uniting the two firms’ credit-business platforms, according to a release.

While undeterred from the market, CLO investors may be skittish enough over price volatility and quality in loans to be more discerning of which managers' BB notes they'll take on.

TPG Sixth Street Partners' Alan Waxman warns investors are turning a blind eye to an epidemic of fake corporate earnings projections.

Shizuoka Bank Ltd. plans to step up its search for yield by buying more U.S. collateralized loan obligations, according to its top executive.

Investors have been demanding significantly higher yields to lend to junk-rated companies in recent weeks - so much so that spreads in an index of the riskiest tier of junk, known as CCC, just breached 1,000 basis points for the first time in more than three years.

Tetragon's announcement reveals the firm will complement its equity strategy by also focusing on the debt-note structure of deals, in hopes of gaining returns on the performance lowest-rated mezzanine and subordinate tranches.

S&P's review of leveraged-loan deals across multiple sectors found only 17% of lenders have provisions that would disallow borrowers from transferring collateral assets to unrestricted subsidiaries outside lender reach.

According to Kroll, this is the middle-market lender's first securitization of growth-opportunity loans made to venture-capitalized software firms that have yet to develop earnings or substantial assets.

The $5 billion financing package may also include around $1 billion of secured debt that would be sold to investors, as well as about $1.7 billion in letters of credit that would be split among participating banks