FINANCIAL PRESS
February 7, 2025
Lakeview Farms deal falls through cracks, as markets see highest level of tightness in 30 years
Refinancing deals continued to dominate the leveraged loan and high-yield bond markets, as investors rushed to deploy capital in a space where supplyhas yet to catch up with demand. “If investors continue to think that we aren’t at risk of significant near-term rate cuts, then we should see strong demand for leveraged loans and thefloating rate asset class,” Grant Nachman, CIO & CEO of Shorecliff Asset Management told Debtwire . “It’s one of the most efficient ways to harvest income if you think rates will not drop precipitously,” he continued.
June 12, 2024
Leveraged Borrowers’ $1.4 Billion Weapon to Fight a Hawkish Fed
A repricing wave in the leveraged loan market is helping risky companies cope with the “higher for longer” message from the Federal Reserve. Borrowers reworking debt to obtain better terms have saved more than $1.4 billion in annual interest expenses so far this year, according to Bloomberg calculations. Investors that have cash to put to work and are facing a short supply of new issues have snapped up the deals, producing an average margin reduction of about 50 basis points.
OVERSEAS PRESS
October 25, 2024
US leveraged loan sales hit record US$986 billion in repricing run
...“There’s an element of frustration of like ‘didn’t this just get repriced?,’” said Grant Nachman, founder and chief investment officer of Shorecliff Asset Management. “If issuers take it too tight, you have to work that much harder to find something to replace it with. There’s really no substitute for hard work.”...
April 2, 2024
Loan Investors Make a Killing Betting on Higher-for-Longer Rates
Investors are pouring money into US leveraged loan funds, fueling some of the biggest gains in credit markets this year, in a high-conviction bet that rates will be slow to fall and junk-rated corporate America will withstand the pressure of elevated borrowing costs.
MULTIMEDIA
Grant Nachman, CIO & CEO of Shorecliff Asset Management, on building a team in the performing credit space
July 24, 2024
In this fireside chat, Grant Nachman, Founder & Chief Investment Officer of Shorecliff Asset Management Co., shared his insights on building a team in the performing credit space. He discussed his background, the journey of setting up his firm, the importance of authenticity, and how sizing and credit picking influence investment decisions.
Shorecliff's Nachman on Launching, Running a Fund: Credit Crunch
July 19, 2024
The journey of a founder is one filled with challenges, but an intellectually enriching experience in the words of Shorecliff Asset Management's Grant Nachman. Grant joins Bloomberg Intelligence's Noel Hebert and Sam Geier on this episode of Credit Crunch to discuss the launching of a new firm, and Shorecliff's full cycle credit investing strategy. Listen to Grant Nachman’s interview with Bloomberg’s Credit Crunch Podcast
CERTAIN ARTICLES PRESENTED HEREIN MAY PREDATE THE FORMATION OF SHORECLIFF ASSET MANAGEMENT LLC
November 6, 2024
How Trump 2.0 could impact US credit markets
..."The impact on leveraged finance is nuanced across sectors, and can vary within sub-sectors too,” said Grant Nachman, CIO and CEO at Shorecliff Asset Management. “We think it’s important not to apply blanket assumptions based on how prior Republican administrations have approached economic policy.”...