CLOs

Fitch describes the Goldman-arranged CLO as similar to Blackstone's Lewey Park CLO, which closed last month.

HPS founders Scott Kapnick, Scot French and Michael Patterson will lead a new private financing solutions business unit with BlackRock as the company seeks to offer the full range of public fixed-income and alternative credit funds.

Amid challenging times for loans in CLOs, Sculptor Capital Management sees refi and reset surge likely to continue well into 2025.

Yield-hungry insurers, banks and exchange-traded funds fueled demand this year while a wave of redemptions crimped net supply.

Clients have been yanking their cash since the Pasadena, California-based company said on Aug. 21 that Leech was going on leave after he received a notice from the SEC that it may recommend enforcement action.

The fund will include asset-based loans such as CLOs.

FS grew its CLO business and now manages four CLOs totaling $1.4 billion. The manager's risk-averse growth avoids complications that are still unfolding liability management exercises.

The team will report to Vincent Pham as UMB Bank enhances its capabilities in CLO trustee and loan administration services.

An application for the BondBloxx Private Credit CLO ETF landed with regulators on Thursday afternoon. Subject to regulatory approval, the proposed fund would invest at least 80% of its assets in collateralized loan obligations.

The Kansas City-based firm created the ETFs in response to demand from clients, in particular the wealth management community.

Chatham will provide funding for the equity portion of CLOs, according to a person with knowledge of the matter. CTM will start issuing CLOs — leveraged loans repackaged as bonds — in 2025.

As corporate treasurers use the debt reorganization technique to head off disruptive defaults and bankruptcies, lenders seek more blockers and cooperation agreements to mitigate risks.

Observers and investors weigh in on how rate cuts may shift pricing dynamics for CLO tranches.

The fund, Sound Point Meridian Capital, invests in CLO equity. Fewer than 10 of these closed-end funds trade now, partly because starting one requires a backer willing to leave the money invested for years.

The change in tone was obvious on Monday, when SBA Communications Corp. postponed the repricing of a $2.3 billion term loan.

The pension plan's investment is a show of support from one of the world's largest private markets investors for the securities.

There's been a resurgence of interest in CLOs. Gross issuance is on track for a record year in Europe, while year-to-date issuance in the market has already exceeded 2023's full-year volume.

BHI has extended the revolving line of credit agreement with Lendbuzz to $50 million, and Janus' B-BBB Collateralized Loan Obligation ETF has surpassed $1 billion in assets.

With the Federal Reserve poised to cut rates as soon as September, investors poured $245 billion overall into active and index mutual funds and exchange-traded funds in the first half of the year, according to Morningstar Direct.

Electronification of trading could fundamentally alter loan and CLO markets.