CLO market round-up: 20 - 24 Nov 2023
Thanksgiving or not, last week was a banner week for middle market CLO deals, with no fewer than five pricing

Santander flags CLO activity with co-placement agent role on CSAM deal
Credit Suisse Asset Management last week priced its second new US deal of the year with BNP Paribas as the lead arranger and Santander as co-placement agent

Hayfin prices short-dated CLO
After a quiet year in the primary market Hayfin Capital Management returned last week with a short-dated European CLO

Secondary market activity in Europe quietens on US holiday, but strong sentiment prevails
Secondary trading was quieter in Europe this week, especially the last two days, due to the US Thanksgiving break

CIBC breaks into CLO market with first deal as sole arranger
CIBC arranged a new issue US CLO for Trinitas Asset Management last week, marking the Canadian bank’s first deal as sole arranger

KKR makes it four US CLOs this year
KKR last week priced its biggest CLO of the year, a half-billion-dollar new-issue US transaction, in a deal arranged by Citi

Empower continues to grow with pricing of fourth US CLO
Empower Capital Management last week priced its fourth CLO overall and third of 2023, with a USD 405.29m broadly syndicated deal arranged by JP Morgan

Centerbridge returns to the market with new US BSL CLO
After a somewhat quiet year on the primary market, alternative investment manager Centerbridge Partners this week priced its first CLO since February, in a USD 475.35m transaction

Blue Owl launches second tech CLO
Building on an already-busy month, Blue Owl has priced its third CLO in as many weeks, with an upsized pricing of a new single-sector private credit CLO. 

Blackstone prices BDC CLO
The past few days have seen a bevy of action in the middle market CLO space – alongside Barings’ double deal and the new Athena II CLO from Blue Owl, Blackstone priced its first offering in the private credit space, with an upsized USD 492.665m transaction.

Scotia adds middle-market lead arranger credit with new Guggenheim CLO
Fresh off the back of its first CLO as sole structuring and lead placement agent, Scotiabank has followed up almost immediately with its second lead role in as many days, arranging Guggenheim’s new USD 475m middle-market CLO

PGIM pushes into the middle market with Windhill CLO 1
The latest in a brace of middle-market CLOs to hit the primary market this week was PGIM’s Windhill CLO 1, arranged by Natixis, which marked the manager’s debut in the middle market 

Antares shines bright as second BSL CLO prices
Three months on from its first BSL-backed CLO, Antares Capital has returned to the primary market, pricing its second new US deal on Tuesday

Crescent brings in triple-A spreads 85bps with static refi
Crescent Capital Group has become the latest manager to exploit advantageous market conditions to undertake a USD 298.91m refinancing of its 2022-vintage Atlas Static Senior Loan Fund I

Redding Ridge reset marks Scotia's first lead arranger role
Scotiabank continued its push into the CLO arranging business yesterday, arranging its first CLO as the sole structuring agent and lead placement agent

Goldman arranges new Tikehau US CLO
French asset manager Tikehau Capital last week priced its second new US CLO of the year in a half-billion-dollar transaction

Palmer Square keeps the deals flowing with twelfth CLO this year
Palmer Square has priced its seventh US transaction of 2023, a new US BSL CLO arranged by Wells Fargo and called Palmer Square CLO 2023-3

Barings prices two deals in a day
In a highly unusual move, Barings yesterday priced two middle market CLOs, worth a combined USD 862.15m, within hours of each other

Blackstone chooses three-year reinvest for latest US CLO
After kicking off November with its Bayswater Park CLO, Blackstone has this week followed up with a new short-dated US offering, the USD 348.8m Hartwick Park CLO

BlackRock launches securitised asset fund
BlackRock has launched a new securitised asset fund dubbed the BlackRock Senior Securitised Fund with at least 65% exposure to ABS and no more than 35% to CLOs

CLO market round-up: 13 - 17 Nov 2023
Who said it was a slow market in Europe? Pricing action in the primary European CLO market put paid to that notion over the past week with a trio of European deals pricing, including two debuts.

GoldenTree goes short for latest US CLO reset
GoldenTree has become the latest manager to throw its hat into the reset ring, with a short-dated reset of a 2022-vintage US transaction, GoldenTree Loan Management CLO 16, that priced last week

MidOcean prices second US CLO of 2023
New York-based MidOcean Partners priced its 13th CLO on Thursday, arranged by Morgan Stanley with NatWest acting as co-placement agent

Investcorp prices second European CLO this year
Following up its first primary market activity in over a year in July, Investcorp Credit Management has returned to the market with a second new European deal, Harvest CLO XXXI

AGL prices fifth CLO this year
AGL Credit Management this week continued its rapid advance in the CLO space pricing its fifth deal of the year in a USD 399.85m new issue CLO arranged by Société Générale.