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European CLO rankings - FY 2023
2 months ago
Our full rankings for the European CLO market, including arrangers, managers, law firms and trustees -
Blue Owl prices first private credit CLO of the year
2 months ago
Blue Owl yesterday pulled the trigger on its CLO primary market activity in 2024, pricing the first private credit deal of the year, and its own 25th private credit CLO since inception -
First CLO of 2024 prices
2 months ago
Jefferies won the battle for the first CLO of 2024 last week via a new US BSL CLO priced for CQS -
European ABS and CLOs rally on Fed rates forecast
2 months ago
Trading activity in European ABS and CLOs was strong on Thursday (14 December) after the Federal Reserve signalled it would cut rates in 2024 -
Palmer Square liquidates 2022 CLO through BWIC
2 months ago
Palmer Square is the seller of a mammoth EUR 350m loan and bond BWIC portfolio that was auctioned last Thursday (4 January) as it has been winding down Palmer Square European Loan Funding 2022-3 -
Investcorp promotes Lane to managing director
2 months ago
Investcorp veteran will continue to work on European CLO issuance -
New research says that CLO arb is better than you think, but still not good enough
2 months ago
New research by Barclays’ Powell Eddins and Pranava Boyidapu suggests that CLO arbitrage is in a better place than many investors think, but that BBs are still more attractive -
Deutsche Bank markets new US CLO with triple As at 157bps
2 months ago
AGL Capital Management has become one of the first players to move in the 2024 US CLO primary market, issuing indicative pricing for its forthcoming AGL CLO 29 -
Investor wades into debate on whether CLO BB notes are literally underrated
2 months ago
The latest piece of thought-provoking research from Flat Rock Global broaches the thorny topic of structured credit ratings, asking “Are CLO BB Notes Investment Grade?” -
Schwartz steps up to lead AB CLO platform
2 months ago
Alliance Bernstein has promoted Bob Schwartz to lead the AB CLO platform, a move chat comes in the wake of Scott Macklin’s move from AB to Obra Capital -
Obra adds veteran CLO PM as it expands into CLO management
2 months ago
Obra Capital has continued its push into CLO management with the hire of a new Head of US Leveraged Finance will be responsible for managing Obra’s CLO platform -
KKR and Bank of America team up on static refi
2 months ago
We missed one CLO from our holiday primary roundup yesterday, with KKR taking advantage of the end-of-year tightening across the market to round off 2023 with a refi of its first static BSL CLO -
CLO market round-up: holiday cheer hits as US senior spreads move in
2 months ago
The holiday period saw a brace of end-of-year US deals pricing, with a range of new issues, resets and a refi to lead the market into 2024, and senior spreads move firmly back in the 160s. -
Barings sneaks in final refi of a 2022 vintage deal
3 months ago
Barings closed the year on a high note with a partial refi of Barings Loan Partners CLO 3, in a deal arranged by Bank of America -
Captive equity is still an option as Carlyle raises fund
3 months ago
Despite predictions of poor returns, captive equity funds can still be raised. The latest manager to hit the market is Carlyle Group, the world’s largest CLO manager according to our 3Q23 Creditflux rankings. According to market sources, Carlyle is raising a half-billion-dollar equity fund, which is expected to be complete by the end of the year. -
Banks support triple As as insurers and asset managers step awa
3 months ago
While attention is focused on what the proposed risk-weighted asset (RWA) implementation of Basel 3 will mean for US banks, European banks have already become the dominate buyers of CLO triple A paper. -
2022 vintage CLO generates record European IRR as loan prices rally
3 months ago
While most managers have reset 2022 CLOs, Apollo-affiliated Redding Ridge took a different route. It called RRE 14 CLO, achieving the highest IRR of any European CLO -
Banks predict steady year ahead
3 months ago
It’s the season for predictions and the CLO market is no exception, with all the banks having their say. We’ve rounded up their forecasts for new issuance and resets in the US and Europe -
2023: a bumper year for CLO funds
3 months ago
It looks like 2023 will finish as a solid year for most credit funds, and an outstanding one for CLO funds. But funds pursuing corporate distressed strategies continued to struggle -
Tightening spreads show market’s growing maturity
3 months ago
As another tumultuous year ends, we review how CLO spreads are looking around the world. In summary? Given current macroeconomic woes, the situation could have been much worse -
How worried should we be about defaults?
3 months ago
As defaults in the US loan market continue to stack up, we investigate the fallout for CLO investors by focusing on the OC tests of double B tranches across 10 years of US CLO vintages -
What CLO investors really need to know
3 months ago
From the drivers of CLO performance to cashflow modelling, these are the seven things every CLO equity investor needs to know. This article is an extract from Dealscribe and CLO Research’s guide What CLO Equity Investors Need To Know -
Fund performance
3 months ago
Q4 has kicked off with structured finance funds leading the way in the Creditflux league tables, as the category index reached 0.61%, and all but one fund made positive returns. -
CLOs at a glance
3 months ago
CLOs at a glance -
Private credit’s abundant dry powder is great news for CLOs as well as borrowers
3 months ago
The recent rapid growth in private credit funds has garnered much attention from market participants and media pundits. While naysayers warn that this “shadow banking” channel could be a bubble waiting to burst in the higher-for-longer environment, issuers and investors continue to flock to the asset class.
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