LPC: Loan market turns to term trust structure as investors search for yield [Reuters]
XAI Octagon Floating Rate & Alternative Income Trust Common Shares of Beneficial Interest (XFLT)
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Source: Reuters
LPC: Loan market turns to term trust structure as investors search for yield | Reuters 5 Min Read NEW YORK, Dec 1 (Reuters) - US credit managers are looking at new shorter-dated term trust structures as investors continue to target leveraged loans as a hedge against further interest rate rises by the Federal Reserve. Leveraged loans, which typically finance private equity buyouts, offer some protection against rising interest rates as interest payments float over the benchmark Libor rate, which rises as rates increase. Investment firms First Trust Advisors and Eaton Vance have raised term trust funds in the last 12 months to invest in the US$939bn US leveraged loan market, according to deal documents. Octagon Credit Investors teamed up with XA Investments for a term trust fund that may invest in first- and second-lien loans, and hold as much as 50% of its portfolio in the debt and equity of Collateralized Loan Obligation (CLO) funds. Term trusts have a set maturity unlike closed-end f
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XFLT
News
- XAI Octagon Floating Rate & Alternative Income Trust Declares its Monthly Common Shares Distribution of $0.085 per ShareBusiness Wire
- XAI Octagon Floating Rate & Alternative Income Trust Will Host Q4 2023 Quarterly Webinar on February 29, 2024Business Wire
- XAI Octagon Floating Rate & Alternative Income Trust Announces Registered Direct Placement of Common SharesBusiness Wire
- XAI Octagon Floating Rate & Alternative Income Trust Declares its Monthly Common Shares Distribution of $0.085 per ShareBusiness Wire
- XAI Octagon Floating Rate & Alternative Income Term Trust Announces Shareholder Approval of Important Proposals [Yahoo! Finance]Yahoo! Finance
XFLT
Sec Filings
- 2/29/24 - Form 8-K
- 2/26/24 - Form NPORT-P
- 2/14/24 - Form 8-K
- XFLT's page on the SEC website