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Global CLO b-wic round-up: Secondary markets rally despite ‘worst liquidity seen all year’
3 years ago
An adjournment in the US for Veterans Day last week still left plenty of time for the CLO secondary market to rally, thanks to Pfizer's covid-19 vaccine breakthrough and a firmer indication of the US presidential election results -
Beneath the triple C: cinemas get clipped but default picture improves
3 years ago
14 corporate debt issuers were downgraded to triple C or below in October by Moody’s or Standard & Poor’s – hurting $3.15 billion of US CLO loans, €761.73 million of European CLO portfolios and $37.95 million of middle market CLOs loans, according to CLO-i. Cinema chains were among those to suffer last month -
LP round up: $2.8 billion flows to credit as Apollo concedes fundraising may slow
3 years ago
Florida Retirement System Trust Fund made the largest commitments allocating $1.6 billion. Apollo meanwhile acknowledged a potential slowdown in fundraising as investors await results on an independent review into CEO Leon Black's relationship with Jeffrey Epstein -
US CLO round-up: 23 managers wait in the wings after avoiding pre-election rush
3 years ago
CLO managers rushed to the primary market last week as they sought to lock in financing before the US presidential elections. This resulted in one of the busiest weeks in the primary market with 10 new issues -
Global b-wic round-up: Europe drifts wider
3 years ago
The CLO secondary market had a robust week with $860 million of US CLO paper and €315 million worth of European CLO bonds listed. But spreads widened off the back of concerns over lockdowns across the globe, the increased risk of downgrades and tomorrow’s US presidential election -
Euro CLO round-up: fluctuating spreads give mixed signals
3 years ago
Last week was one of the European CLO market’s busiest since the coronavirus crisis began, as four managers brought new deals to market – adding €1.35 billion -
US CLO round-up: New Mountain gives a peek at better times
3 years ago
CLO primary issuance has produced healthy volume over the last few weeks with new issue paper totalling $7.9 billion since 21 September. -
Global CLO b-wic round-up: CLO mezz tranches widen amid macro concerns
3 years ago
Last week was busy for the primary European CLO market but not for secondary, with €1.35 billion of new issue European CLOs priced across four transactions but just €190 million of European CLO paper listed in b-wics -
LP round up: $5 billion flows to credit as private market allocations increase
3 years ago
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux -
Global CLO b-wic round-up: CLO lower mezz tightens while equity investors strive for duration
3 years ago
A large supply of CLO paper flooded the secondary market last week as $1.5 billion of US CLO bonds and €370 million of European CLOs were listed, according to CLO-i -
Global CLO b-wic round-up: dealers get involved amid rally, but dispersion persists
3 years ago
The CLO secondary markets returned to form last week with $716.2 million of US CLO bonds and a further €306.5 million of European CLO paper listed. Although for both markets over half of the total volume listed came from Thursday’s scheduled b-wics -
Global CLO b-wic round-up: US CLO triple As finally rally while European investors go ‘all in’
3 years ago
A huge supply of $731 million of US CLO triple A bonds pushed US CLO secondary volumes to just shy of $1.5 billion last week -
Global CLO b-wic round-up: Palmer Square sets highest cover as double B curve inverts
3 years ago
Palmer Square and MJX set the CLO secondary market trading range, but pickings in Europe were the slimmest they have been in almost five months -
CLO pipeline: AGL aims high as it prepares fifth new issue of 2020
3 years ago
US CLO managers are sensing opportunities in the CLO market either via new issue CLOs or by refinancing the fixed-rate tranches in their legacy deals -
Global CLO league tables - July 2020 YTD
3 years ago
Global CLO league tables - July 2020 YTD -
US CLO league tables: refis return as Apollo and Citi maintain leads
3 years ago
US CLO monthly issuance rose above $8 billion in July for the first time since the coronavirus pandemic wreaked havoc across the globe -
Global CLO b-wic round-up: secondary CLOs rally but dispersion persists
3 years ago
The US CLO secondary market rallied, and spreads compressed last week, but there are still several outliers -
CLO pipeline: Redding Ridge plans fourth US CLO since March
3 years ago
Last week proved to be one of the busiest weeks of the primary CLO market since the start of the coronavirus pandemic, with $5.21 billion worth of new paper issuance coming through: eight US CLOs, one middle market deal and three euro CLOs -
Global CLO b-wic round-up: CLO lower mezz spreads tighten back after volatile two weeks
3 years ago
Secondary CLO spreads in the US and European markets have recovered after moving wider over the last two weeks -
CLO pipeline: break's over - time to print deals
3 years ago
The CLO market has taken a slight pause after the independence holiday in the US last weekend, meaning the CLO pipeline includes a backlog -
Global CLO b-wic round-up: spreads widen in short week to end manic June
3 years ago
A shortened week brought an end to a manic month of secondary CLO activity. $343.5 million of US CLO and €309 million of European CLO paper was on sale last week, dropping $1.05 billion and €170 million from the previous week -
CLO pipeline: Managers prepare to build on momentum in July
3 years ago
The demand for new issue CLO paper is strengthening with eight US CLOs, one mid market CLO and three European CLOs preparing to print in the coming days -
LP round up: horseshoe does the trick for Pimco and other distressed managers
3 years ago
Institutional investors poured $2.7 billion into credit this week through 14 managers, according to board documentation seen by Creditflux -
CLO pipeline: marathon runners and sprinters join the race
3 years ago
Five new CLOs priced last week, four of which were US issues and one European, but they have been ably replaced in the pipeline, with a handful of managers looking to strike while the CLO market is still hot -
CLO pipeline: manager prepares crowning return as primary market gets busy
3 years ago
CLO secondary prices have rallied hard in recent weeks, providing impetus for the new issue deal pipeline to fill up quickly. But one surprise is that Western Asset Management has chosen this moment to return to the primary CLO market, after several years' absence
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