Benefit Street reissues 2015 CLO with triple As printing at 119bp
Benefit Street Partners teamed up with MUFG on Monday to reissue its 2015 CLO named Benefit Street Partners CLO VI, tweaking the deal's name to VI-B in the process

Owl Rock prints unusual mid market CLO from first lien-only strategy
Owl Rock Capital has priced an unusual middle market CLO out of its first lien-only strategy known as Parli

AGL and Partners upsize legacy CLO deals with resets
AGL Credit Management and Partners Group each priced a CLO reset on Monday, with both firms opting to upsize their legacy deals in the process

Barclays' CLO structuring head departs for buy-side role
The head of CLO structuring at Barclays is leaving the bank to join a top 10 CLO manager in New York

CLO records on course to shatter as repricings move in-the-money

Nomura makes senior US CLO hire as it grows pipeline with Blackstone mandate
Nomura has hired an official to lead its US CLO structuring effort as the bank’s CLO market share continues to grow. One of Nomura’s next assignments is a new US CLO for Blackstone Credit

US manager returns with first new CLO in over five years as triple As hit 130bp
A US CLO made a return to the US CLO primary market on Friday with its first new issue since March 2015

Hayfin pairs with Jefferies on first new US CLO of year
Hayfin Capital Management returned to the CLO primary market on Friday with its first US new issue deal of 2021

Golub issues 2021's third-largest middle market CLO
Golub Capital Partners has issued the third-largest middle market CLO of 2021 to date

Arena holds $215 million first close on special situations fund
Arena's special opportunities partners funds invest in special-situations, asset-backed, credit-oriented investments

Antares hires experienced investor relations official from Barings
Antares Capital has hired a head of investor coverage in asset management

"I’ve been doing ESG for 27 years; I just didn’t know it"
Apollo's Joe Mornoey takes our credit quiz

2021 CBO refi volume reaches record as CSAM cuts costs on 2019 deal
Credit Suisse Asset Management paired with Citi on Thursday to refinance the mezzanine debt tranches of its 2019 bond-heavy CLO named One Eleven Funding III

HPS makes big hire with CLO head Frey set to retire
HPS Investment Partners is set to hire the former CLO head at a rival issuer as well known loan PM David Frey prepares to step down   

"Spacs… what better buyer than someone with a short fuse who needs to get their capital working"
Since the beginning of 2020, more than $191 billion has been raised in spac (special purpose acquisition company) IPOs. This money has such a short fuse — get a deal done in 24 months or management loses the IPO costs it covered — and there has been so much of it, that it has had an impact on the markets

CMBS market picks hotels for bright summer ahead
CMBS and RMBS markets are set to be among the biggest beneficiaries as the US economy opens up in the latter half of this year, but market participants caution that there will be bifurcation in certain sectors

CLO debt investors add risk by dipping into equity tranches
Investors that have traditionally bought CLO debt are piling into equity tranches, sources say. This comes as the arbitrage between CLO assets and liabilities has reached its most attractive level in years

Credit spreads gap wider as growth fears rock market
Credit indices have gapped wider and stocks slumped, with government bonds making gains, amid rising concern about future economic growth prospects and the impact of central bank policy

Diversity database shines light on credit firms not stepping up
Private credit managers are significantly lagging behind their industry counterparts when it comes to hiring under-represented groups, including front office, distribution and investment committee roles, according to data from Diversity­Metrics, a new data-driven platform launched by executive search firm Jensen Partners

US loan managers capture secondary opportunities as new issues struggle
US loan managers switched gears by sourcing loans in the secondary market in the second quarter. This came as pricing in the primary market became less attractive in the early part of Q2 and with new loan issuance slowing in May and June

Investors proclaim ‘CLO arb is good’
Hold on to your hats: at long last market participants agree that US CLO economics are in favour of equity tranche investors

Flat Rock completes hat-trick of CLO funds taking top spot
Hedge funds that invest in CLO tranches are the top performers in our database for a third month in a row.

Past returns: Mid market CLOs move into light
Ten years ago in Creditflux, we reported that S&P was reducing shadow ratings after it notified CLO managers it would not assign such ratings to companies with more than $499 million of outstanding debt

They said it: "A lot of value was lost due to CLO window dressing"
"A lot of value was lost due to CLO window dressing"

Quantitative credit growth could fill in ESG blanks
Quantitative credit strategies have the potential to “advance 20 years in the next two years,” according to officials at Man Numeric.