Credit supply bumps up with Lendbuzz LOC and Janus BBB CLO ETF
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.
CLOs
Bond kings draw record $44 billion to actively managed ETFs
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.
Octaura revs up loan trading
Electronification of trading could fundamentally alter loan and CLO markets.
By
John Hintze
Carlyle seeks $547 million in CLO refinancing deal
The Carlyle US CLO 2022-4 transaction closed originally on September 1, 2022.
Carlyle issues $509.3 million CLO notes backed by diverse portfolio
The loan portfolio has international diversification across industries.
LSTA’s new executive director talks shop
The booming loan and CLO markets could face hurdles unless merger & acquisition activity picks up.
By
John Hintze
CMBS buyers face first Europe AAA loss Since Credit Crunch
The anticipated losses follow a hit to investors in a U.S. CMBS last month. Buyers of the AAA portion of a note backed by the mortgage on a building in midtown Manhattan got less than three-quarters of their original investment back after the loan was sold at a steep discount.
KKR loads up on risky CCC loans as other fund managers dump the debt
KKR is buying CCC loans as they are "purged" from fund managers with less risk appetite. Since so much demand has been sucked out of the market, Sheldon and Reback said they believe some parts of the CCC markets are "oversold."
Janus’ AAA CLO ETF hits $10 billion asset milestone
Much of that growth appears to have happened since the beginning of the year. JAAA's AUM was $5.3 billion at the end of 2023, suggesting a 94% increase.
SMBC Nikko’s CLO growth strategy pays off
The Japanese banking giant's sub foresees vibrant 2024 and expanding CLO interest from Asian investors.
By
John Hintze
Nomura targets 20% revenue growth from global markets arm
Macro, credit and securitized products and equities will each contribute 25% to 30% of the growth, with the remaining 15% coming from wealth management.
Octagon 63 prepares to raise $410 million in CLOs
The top five issuers in the pool represent 4.73% of the pool, which is noticeably more diversified compared with the 12.50% concentration, according to Fitch's stressed portfolio at initial expected matrix point.
Sculptor launches latest fund to buy riskiest CLO slices
The venture, dubbed Sculptor Loan Financing Partners, will manage investments in the equity tranches of Sculptor's own CLOs in the U.S. and Europe.
Griffin joins LSTA as executive director
Griffin was a managing director at J.P.Morgan Securities, where he ran the global primary collateralized loan obligation (CLO) business.
Dechert expands CLO team with Blake Gilson
The group works on complex deal structures including rated funds and CLO equity funds and is on an expansion bid.
Life insurer interest in CLOs swell holdings—and draws regulator attention
As life insurers increase their investment in CLOs, regulators are asking questions about how the firms manage risk-based capital.
Janus Henderson’s head start for CLO ETFs pays off big time
Contenders see plenty of room for the market of EFTS investing in CLOs to grow. The question is if they can potentially usurp some of banks' dominance in AAA-tranche investing.
By
John Hintze
CIFC Funding appears set to issue $514 million in CLOs
The transaction is a reset CLO, where the maximum weighted average life on the deal is reset to nine years, in that case, and the non-call period is reset to 2.2 years as of the refinancing date.
Wellington exec on private credit’s growth in CLOs, amid return to broadly syndicated loans
Alyssa Irving sees bright production prospects for 2024 for a range of securitization assets, as the industry awaits rate cuts.
By
John Hintze
Cracks in the commercial property market are widening to apartments
The share of loans in Arbor's CLOs that failed to make a scheduled payment more than doubled in the fourth quarter, according to preliminary data compiled by Banco Santander SA.
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