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Sound Point prints its first new CLO in 11 months
1 year ago
Sound Point Capital Management returned to the CLO primary market on Monday to print its first new CLO in 11 months -
CVC and PGIM add to European CLO new issue surge
1 year ago
CVC and PGIM joined Ares, Neuberger and Oaktree in pricing new issues last week -
Ares targets today for European CLO pricing
1 year ago
Ares Management is targeting today to price its new issue European CLO, Ares European CLO XVI -
Ares markets first 2022 CLO in Europe
1 year ago
Ares Management is targeting Wednesday to price a new issue European CLO -
Capital Four prints two-year ESG European CLO
1 year ago
Capital Four has become the latest European CLO manager to print a short-dated new issue, with JP Morgan arranging the €351.6 million deal, named Capital Four Euro CLO IV -
Panagram takes on 'structure advisor' role for mid market CLO as two deals price
2 years ago
Panagram Structured Asset Management has taken an advisor role for a BlackRock mid market CLO - one of two mid market deals Natixis arranged this week, with another for Nuveen Asset Management -
European high yield recovers ground on US as vaccine optimism mounts
2 years ago
A rocky week for financial markets is nonetheless ending with European high yield credit spreads markedly tighter than where they began, with US underperformance re-establishing the transatlantic gap that prevailed before the omicron blow out -
BofA adds to Euro CLO volume with Permira new issue and Spire triple A refi
2 years ago
Bank of America added €635.6 million to its European CLO arranging volume having priced a new issue for Permira and a partial refi for Spire -
BlackRock resets 2020 European CLO with triple As tightening to 97bp
2 years ago
Bank of America arranged the €351 million BlackRock European CLO X -
How's this for Stratas? HPS returns to US CLO issuance with triple C-flex deal
2 years ago
HPS Investment Partners priced a rare CLO with an elevated triple C basket on Monday as it marks its first new US CLO of any kind in over two years -
All eyes on NFP as credit seeks exit from 'no man's land'
2 years ago
Credit markets look to be ending wider on the week but, with focus mainly on today's US non-farm payroll numbers, the lack of movement in early trading could give way to a stronger directional play ahead of the long US weekend -
Control position in strong 2018 Axa CLO on sale today
2 years ago
$29.2 million of Allegro VII, a 2018 CLO managed by Axa Investment Managers, is on sale today in an all US CLO equity b-wic at 10am EST (3pm UK time). The bond is the fifth US CLO majority equity position to be listed on a b-wic this year -
Global CLO pricing lab: investors get over fatigue and embrace reset roll over
2 years ago
The demand for CLOs is showing no signs of slowing down after the market had experienced some fatigue at the end of the first quarter and into the second. In the last two weeks, there have been 47 CLO transactions across all forms of pricing in the three markets; led by 18 US CLO new issues -
KKR includes fixed-to-floating rate tranche with cap in European CLO reset
3 years ago
KKR has become the latest manager to insert a triple A loan tranche and a fixed-to-floating rate tranche as part of a European CLO transaction -
High yield has primary bonds more than Georgia on mind in third day of underperformance
3 years ago
European high yield credit is on a run of underperformance as the first signs of primary market bond issuance appear, with spreads widening for a third day straight against improvement in other asset classes -
Indices retrace wider as contested election scenario looms
3 years ago
Credit is moving wider this morning as a contested US presidential election looms. This comes as incumbent Donald Trump threatened to go to the US Supreme Court in the early hours of this morning, citing election fraud and calling to stop votes being counted -
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 -
Newcomer wins Creditflux Manager of the Year award in virtual event
3 years ago
Last night Creditflux presented its first ever virtual hosting of our annual Manager Awards, with over 450 people tuning in live to see the winners announced -
Bankruptcies mount with CLOs not on level playing field
3 years ago
Over $2.4 billion of CLO collateral has been caught up in bankruptcies since coronavirus-related volatility began, according to CLO-i. Bankruptcies are not a level playing field for CLOs - and although documention ammendments on what a CLO can or cannot do in a restructuring are not happening yet, sources say talks may arise in the future -
Bankrupt Hertz runs out of gas with CLOs holding $245 million
3 years ago
CLOs hold $245 million of Hertz’ debt as the US-based car rental company drives into bankruptcy protection, with the coronavirus panedemic putting brakes on the Estero, Florida-headquartered's firm car rental operations -
CLO market welcomes 'favourable and surprising' revisions to talf, but issues remain
3 years ago
CLO participants are welcoming the 'many favourable and even pleasantly surprising' revisions to the term asset backed lending facility announced by the US Federal Reserve today to address previous concerns. This could help reignite the market, but some issues were not addressed -
Beneath the triple C: April showers send buckets overboard
3 years ago
Downgrade waves rocked the CLO market in April as Moody's and Standard & Poor's downgraded 135 corporate borrowers to triple C or below, from ratings above that level. The downgrades put CLOs in rough waters as $41.6 billion of such loans are prevalent in US CLOs while €5.64 are moored in European CLO portfolios – affecting 5.92% of the US market and 4.37% of the European market -
Direct lenders look to source deal flow through government-backed loans
3 years ago
Direct lenders have been looking to tap into government backed loans as a way of sourcing deals, either via partnering with banks or being an accredited lender -
Fair Oaks suspends dividends from listed CLO fund citing covid-19 uncertainty
4 years ago
Fair Oaks Capital has suspended dividends on its listed CLO fund “in light of the ongoing uncertainty in economies and markets caused by covid-19 pandemic”, according to an update to investors in the $315 million fund -
CLO market celebrates Valentine's Day by romancing with resets
4 years ago
Refinancings have been the talk of the month in the CLO market, but this Valentines day saw managers turn their minds to resets
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