Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Here’s a structured finance blast from the past; some trouble in mezzanine tranches of ABS CDOs. Last week the ...

Ellington Credit Company is a high-yield, high-risk closed-end fund focused on CLO mezzanine and equity tranches. EARN's forward dividend yield is an attractive 17.55%, with consistent distributions, ...

Earnings call EARN reported a Q4 2025 GAAP net loss of $0.56 per share and a negative 9.1% NAV total return, outperforming peers in a challenging CLO equity market. The fund increased its allocation ...

Laurence Penn stated, "Nearly 3/4 of our CLO purchases have been mezzanine debt tranches, underscoring our up in credit bias, particularly during the challenging past 6 months." Management noted ...

Investors are not being properly compensated for the risk of buying equity andjunior mezzanine tranches, according to Deutsche Bank’s quantitative creditstrategy group. The chart above, known as the ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Credit Suisse have embarked on a more technical approach to our old friend, the eurozone CDO. They’ve used the ...

Standard & Poor's lowered its ratings on 67 tranches, with a total value of $7.65 billion, from 10 U.S. cash-flow and hybrid collateralized-debt-obligation transactions. Nine of the transactions are ...