CLO managers make arbitrage work by boosting leverage13 days ago
Leverage in European CLOs is now averaging 9.6 times debt to equity versus 8.3 times in the first quarter of 2017
We can’t hide it any longer, we’re tiering up13 days ago
With the opening months of 2019 highlighting a clear class system among CLO managers, there has never been a better time to assess tiering. We find that timing, patience and luck all play a role
Euro CLO league tables: repricings take a back seat while new issues get going14 days ago
The European CLO market showed signs of kicking back into gear in February with €3.32 billion of issuance
Tail wags dog as European CLOs' 108bp benchmark drags loans1 month ago
European CLOs usually price on the back of where underlying loans are printing, but this year the reverse looks to be true
CLO managers exposed as US mortgage lender files for bankruptcy1 month ago
CLOs hold $164.9 million exposure to the debt of Ditech Holding Corporation, who refiled for Chapter 11 bankruptcy on Monday
Keep calm and buy corporate loans1 month ago
Calm heads prevailed in 2018. Markets were volatile and risk retention was supposed to cause problems, but there was no need to panic and volumes went on to break records set in 2014
Global CLO league tables: new year, new issues1 month ago
Momentum in the CLO market at the start of 2019 is less forceful than it was at the beginning of 2018 and 2017, on the basis of opening volumes
Euro CLO round-up: largest managers brave primary market amid regulatory squeeze1 month ago
Two seasoned European CLO managers stepped into the primary market to price new issue deals amid a period of uncertainty as the Securitisation Regulation put forth by the European Securities & Markets Association (Esma) beds in
CLO docs shed light on implementation of Securitisation Regulation1 month ago
Market participants are beginning to get visibility on how European CLOs are handling the transparency obligation and the risk of fines under the European Securities & Markets Authority’s (Esma) Securitisation Regulation, according to a report on Creditflux’s sister publication Debtwire
European CLO round-up: single B basis between US and Europe narrows1 month ago
The European CLO market finally came out of its issuance shutdown on Friday when Credit Suisse Asset Management partnered with Barclays to price Cadogan Square CLO XIII.
CSAM sheds light on CLO pricing as it reopens European market1 month ago
Credit Suisse Asset Management has priced Europe’s first CLO in two months, according to market sources
CSAM European CLO price talk points to wide junior debt benchmarks1 month ago
A much-awaited deal provides colour on the state of the European CLO market as the price talk for Credit Suisse Asset Management’s inaugural 2019 European deal, Cadogan Square CLO XII, circulates across the industry
CSAM looks to set pricing benchmark as it markets new euro CLO via Barclays2 months ago
Credit Suisse Asset Management is looking to wake the European CLO primary market from its slumber with a new transaction named Cadogan Square XIII
The financial crisis was the making of ’em3 months ago
Some of the largest and best performing CLO managers before the crisis were fairly nimble by today’s standards — but these 1.0 outperformers are now among the biggest names in the industry
They said it: Too easy to launch CLOs3 months ago
"It’s just too easy to issue CLOs — way easier than it should be"
The financial crisis was the making of 'em3 months ago
Some of the largest and best performing CLO managers before the crisis were fairly nimble by today's standards - but these 1.0 outperformers are now among the biggest names in the industry.
CSAM prices billion-dollar deal to extend its CLO market lead4 months ago
A blow-out day for the US CLO market brought $4.18 billion of issuance on Friday across seven deals, of which 54% was new issue paper
US CLO league tables: Citi edges ahead of Morgan Stanley in new issues for league table clean sweep4 months ago
Citi has nipped ahead of Morgan Stanley in the new issue US CLO league tables and is now the market leading bank for all forms of CLO pricing and repricing in the US.
US CLO market's biggest names plan AUM drive before year-end4 months ago
Some of the CLO market’s biggest names are planning an AUM boost before year-end, presale reports suggest
CSAM prices tight with $816 million US CLO4 months ago
Credit Suisse Asset Management priced an $816 million US CLO yesterday in which senior and junior triple As priced at the tight end of the market
Global CLO round-up: what goes around comes around5 months ago
It is no news that spreads are reverting back to the elevated levels of last year and, with each new deal pushing the market wider, the rolling three-month term curve in the US has been forced to stretch and move left, right and centre.
CSAM prices 5th largest CLO transaction of 20185 months ago
Credit Suisse Asset Management has priced a $1.03 billion reset of Madison Park Funding XIV
CLO market gauges counterparty risk as it predicts economic cycle will turn5 months ago
Credit is showing symptoms of a cycle in its latter stages, according to CLO market participants. While this makes loan and manager selection important, participants are increasingly focusing on counterparty risk.
CSAM prices largest new issue CLO since May5 months ago
Credit Suisse Asset Management is back with its eighth new issue CLO of 2018 named Madison Park Funding XXIX
US CLO league tables: CSAM aces it to take top spot in new issue reshuffle7 months ago
Carlyle Group now leads the CLO market on two fronts with the firm moving into top spot in the 2018 US CLO rankings, adding to its position as a market leader in Europe
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