The Last Tranche with JP Morgan's Ferris: new managers should focus on equity
In this episode of our podcast The Last Tranche, Christine Ferris, JP Morgan's Global Head of CLO Primary talks about why she loves working with debut managers, despite the extra challenges they face

Bridgepoint hits the mark with sixth European CLO
As new figures showed the European CLO market enjoyed its strongest first quarter since 2007, Bridgepoint Capital became the first manager to price a European CLO after Easter

AlbaCore expands with senior research hires
London-based AlbaCore Capital Group announced the expansion of its investment team last week, with the addition of a new Head of Research

CLO round-up: March 2024
March was another busy month for the CLO market, with eighty deals pricing. That total includes ten new European deals as that side of the market finally kicked into gear.

Nassau joins delayed draw issuance wave
The latest manager to draw down a delayed draw tranche in the run-up to Easter was Nassau Corporate Credit, the ninth such draw-down so far this year

Blackstone chooses static structure for new European CLO
Blackstone’s sixth CLO deal of the year priced yesterday in the market’s third static European deal of 2024

Europe sees another delayed-draw AAA as Onex prices
Onex Credit Partners became the third manager to bring to market a deal with a triple-A tranche in a delayed-draw format, when it priced OCP Euro CLO 2024-9 yesterday

Altice isn’t just a European CLO problem
The latest BofA research estimates that US CLO OC test breaches could jump to as high as 17% if all Altice entiites are downgraded

Fair Oaks makes punchy return to European CLO primary
Fair Oaks Capital returned to the primary market for the first time in two years, getting tight pricing on its Fair Oaks Loan Funding V

Permira prices tenth European Providus CLO
Permira Credit threw their hat into the increasingly crowded European ring with their first deal of 2024

Rockford Tower prints the first short-dated European CLO this year
Rockford Tower has reset Rockford Tower Europe CLO 2018-1 in the first short-dated European deal of 2024

Carlyle joins European rush with new CLO
Carlyle returned to the European CLO market for the first time in 18 months with Carlyle Euro CLO 2024-1

KKR leads flood of European CLOs
The first European print of 2024 for KKR, arranged by JP Morgan, came on a busy day for Euro CLOs

Sculptor returns to European CLO market after two year gap
Sculptor priced its fourth deal of the year on Wednesday, and its first European CLO in over two years

Arini is already back as second CLO prices
Continuing its rapid advance in the European market, Arini Capital priced its second CLO last week

European CLO market cautious but upbeat, conference hears
Yesterday’s annual IMN Euro CLO Forum in London exuded an air of ‘upbeat caution’ around the European market over the course of 2024, with a broadly positive outlook around issuance

Deutsche Bank and PSL launch index for European CLOs
Deutsche Bank has launched a total-return benchmark index for euro-denominated CLO debt.

Blackstone CLO gets bushier as delayed draw tranche issues
Blackstone added its contribution to 2024’s accelerating run of delayed draw single-B issues yesterday, as it priced a drawn-down class-F tranche

Palmer Square prices delayed draw for 2023 CLO
The latest in a sequence of delayed-draw European issues hit the primary market on Friday, when Palmer Square priced the F-class notes of a 2023 CLO

CVC leaves triple As unchanged in rare refi
Goldman Sachs arranged a second European deal of 2024 for CVC Credit Partners last week, with a refi that left the triple As unchanged

CLO round-up: mid-March 2024
Our roundup of all the action half-way through another spectacular month for the CLO market

Barclays raises 2024 US BSL CLO new issue forecast
Barclays has become the latest bank research desk to increase its 2024 US BSL CLO new issue forecast

Long delayed European CLO feature is delayed no longer
Since the beginning of this year six European CLOs have priced class F delayed draw issuance as what was once a theoretical leverage boost has become a regular occurence

European CLO reset matches market tights
The triple-A spreads on a European reset matched the tightest seen in European new-issue this year with the restructuring of a 2022-vintage transaction yesterday

European reinvestment periods are ticking up, but we're not at 2021 levels yet
With market sentiment running at strong levels through the first quarter of this year, investor demand for new issuances has been likewise strong – and that’s been reflected in a continued uptick in the length of reinvestment periods for European CLOs