Creditflux

CLO pipeline: Barclays and Goldman branch out to mid market
The US CLO pipeline has been full in recent weeks and this continues, with 18 new issue CLOs and a further nine refinancings appearing this week.

Arrowmark refinances post-reinvestment Elevation CLO
Arrowmark Colorado Holdings yesterday took the unusual step of refinancing a 2015 vintage CLO that has left its reinvestment period

Managers slide down term curve
PGIM and Voya were among managers issuing short dated deals in the first quarter. These CLOs, along with a surge in b-wics, kept up the supply of short dated paper as refinancings fell away

Regulation stifles SRTs, but banks and investors revel in quarter-four outperformance
Over the course of 2018 there was roughly €6.5 billion of issuance in the market for significant risk transfer (SRT) deals, sources say, with the last three months understood to be the busiest quarter on record

You can’t time everything 100% correctly, but being too early can be a mistake
ArrowMark's Kaelyn Abrell takes our credit quiz

US CLO round-up: Dry January ends early as spreads get hammered
Is the 2019 vintage going to be a classic? It's certainly started off slow, but it could mature into something very special if loan volatility persists

ArrowMark prices static CLO as primary market opens for business
ArrowMark Partners has opened 2019’s CLO primary market, pricing its inaugural static deal named Apres Static CLO 1

ArrowMark prepares to issue static CLO for the first time
Colorado-based ArrowMark has been hitting the slopes with regular long-reinvestment CLOs. It's now looking for a change of pace by issuing a static CLO

ArrowMark's prices new issue CLO as triple As hit 127bp
ArrowMark Partners priced a $409.85 million new issue CLO via MUFG yesterday

ArrowMark builds in London with big SRT hire
ArrowMark is one of the biggest investors in the SRT market, but unusually it conducts most of its business out of the US. It has now added to its presence in London with an experienced official joining its SRT business

ArrowMark cuts triple A financing costs by 60bp as it resets US CLO
ArrowMark Partners yesterday reset a 2016 CLO with high financing costs, sources say

New rules encourage growth in blossoming risk sharing market
Significant risk transfer deals have generally been issued towards the end of the year – but the first quarter of 2018 has opened with a flurry of deals across primary and secondary markets

Denver firm prices its first new broadly syndicated loan CLO of the year
A Colorado-based manager has priced its first CLO transaction of the year backed by broadly syndicated loans

ArrowMark prices second CLO transaction in June following mid-market reset
ArrowMark Partners has become the first manager to price a transaction in the middle-market CLO space this month

Denver-based CLO manager hires Goldman Sachs to issue first deal of 2018
A CLO manager is marketing a new issue CLO, its first since December 2017

CLO b-wic line-up: large equity positions and a vertical strip hit the market
Shedding vertical strips is a big trend these days with BlueMountain Fuji CLO Management seemingly looking to shed notes from one of its US CLOs

Two ArrowMark direct lending MDs take their leave
Direct lending specialists Vipul Shah and Michael Novoseller have left ArrowMark Partners after three years at the firm, Creditflux has learned

B-wic round up: investor flips 2018 CLOs without waiting for the closing date
Flipping CLOs is not an unusual trade. But it is when it's done before a transaction has even closed

Denver based CLO manager prices $413 million new issue transaction
The manager priced a new issue $413 million transaction arranged by MUFG, according to market sources

ArrowMark prices its second new CLO of 2017
325 Fillmore – an affiliate of ArrowMark Partners - has priced a $464 million CLO, according to market sources

Price talk for forthcoming Elevation CLO triple As at 122bp
325 Fillmore's forthcoming CLO deal, known as Elevation CLO 2017-7, will pay a 122 basis point print on its triple A notes, according to market sources

Goldman Sachs plans $464 million CLO for US manager
Goldman Sachs is planning a new issue CLO to be managed by a CLO manager's capitalised affiliate

Denver-based manager upsizes 2014 CLO by 16.1% in new reset
ArrowMark resets a CLO and, in the process, chooses to upsize the 2014 deal 

ArrowMark opts for rating to finance CLO vertical slice
ArrowMark Partners has taken the unusual step of obtaining a rating on a loan that it recently issued to support its CLO risk retention efforts