Invesco adds third European CLO this year to its tally
Invesco Euro CLO XI DAC was arranged by Goldman Sachs in a EUR 400m transaction

Redding Ridge buys Gulf Stream CLO management contracts
Redding Ridge Asset Management has announced the purchase of USD 2.8bn of CLO management contracts from Gulf Stream Asset Management

MidCap goes minimalist for mid-market deal
MidCap Financial, an Apollo affiliate, has priced a new middle market CLO called MFIC Bethesda CLO 1

Octagon 68 prices with triple As at SOFR +167.5bps
Wells Fargo arranged a new US CLO for Octagon Credit Investors on Friday

Manager tiering collapses as US issuance picks up
In September, manager tiering in the US market for new CLOs fell to its lowest basis this year, encouraging debut managers and small existing managers back to the market.

Easy gains of 2022 won’t be repeated but shorted-dated CLOs could still have upside
The latest trend to hit the US market is the pricing of short-dated CLOs. Palmer Square and BlackRock both priced CLOs with one-year reinvestment periods, and Nuveen printed a Symphony CLO with a two-year reinvestment period.

News in brief
News in brief

CLOs at a glance
Recent CLO pricings

KKR prices third US CLO this year
Bank of America arranged a new USD 402.7m deal US CLO for KKR yesterday

ABS spreads hold up in spite of September issuance deluge, while CLOs soften
Trading activity in European ABS has slowed down, as the market absorbs one of the busiest months for issuance for years

Debut manager joins European CLO market
The European CLO community grew a little bigger yesterday with the pricing of a deal from the first new entrant to the market since May

New Oak Hill CLO signals seniors moving into the 160s
Bank of America and Oak Hill Advisors teamed up yesterday to price a new US CLO with senior spreads under 170bps

BNP Paribas prices monster middle market CLO
The largest CLO in years priced yesterday in the form of Golub Capital Partners CLO 69(M), a USD 1.33bn transaction

West-coast giant prices second CLO this year
PIMCO returned to the CLO market for the second time this year with the pricing of Balboa Bay Loan Funding 2023-2

Pinebridge prices new US CLO
Pinebridge Investments priced a new US CLO on Friday in a USD 404.7m transaction arranged by Barclays

Nuveen adds short-dated CLO to its tally
The third short-dated CLO in just two weeks has been priced as managers bet on liabilities continuing to tighten

Refinancing range expands as 2020 vintage deal prices
The CLO refinancing market opened up last week with the pricing of the first refi of a US 2020 vintage deal in more than a year

Static CLO sees big benefits from refi
The partial refi of a 2022 vintage static CLO brought triple A spreads down a full 80bps

Katayma becomes third new entrant to the US CLO market this quarter
Katayma Credit Management became the third debut manager to price a US CLO this quarter thanks to a USD 402m deal arranged by Wells Fargo

Sixth Street prices second US CLO this year
Citi arranged a new USD 404.5m deal US CLO for Sixth Street yesterday

Diameter prices fifth US CLO
Diameter Capital Partners returned to the primary CLO market yesterday with its first US CLO this year

BNP Paribas prices new European CLO as senior prices settle at 170bps
Activity in the European CLO market continued to pick up this week with the printing of a new deal for Spire Partners. 

Short-dated US CLOs are in fashion with BlackRock pricing new deal
Magnetite XXXIX features a one-year reinvestment period and triple-As at 155bps

Latest Elmwood reset brings triple A spreads in 60bps
Morgan Stanley priced Elmwood Asset Management’s second reset of 2023 on Friday