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CLO torrent adds $1.5 billion in US refis
3 years ago
The CLO refinancing boom has added another $1.5 billion to deal volume, with Intermediate Capital Group, Octagon Credit Investors, Sound Point Capital Management and Vibrant Capital Partners adding their names to the list of CLO refinanciers -
CLO pipeline: Carlyle eyes fourth new issue in two months but refis and resets dominate
3 years ago
Manager focus has shifted to reworking vintage CLOs to lower funding costs in a much tighter market, with the new issue US market having slowed -
Sound Point docks 24bp from 2017 US CLO triple As
3 years ago
Sound Point has shaved 24 basis points off the triple A notes of its 2017 CLO named Sound Point CLO XVII with a refinancing -
US credit specialists prepare for partial return to office
3 years ago
Positive covid-19 data coming out of the US is turning market participants’ attention to a potential return to the office -
JP Morgan shaves costs on over $1 billion of CLO refis for Sound Point and MJX
3 years ago
JP Morgan printed over $1 billion CLO refinancings this week by arranging cost-saving transactions for Sound Point Capital Management and MJX Asset Management -
The Last Tranche with Sound Point's Ketchum: CLOs have fortress-like structures
3 years ago
Creditflux's Hugh Minch and Sound Point's Stephen Ketchum discuss the macro picture for US credit and who should be on the lookout for inflation -
JP Morgan prices CLO refis for Fidelity and Sound Point
3 years ago
JP Morgan has priced CLO refinancing deals for Fidelity Investments and Sound Point Capital Management. The two deals total $872 million in volume -
January US CLO refi volume overtakes 2020 post-covid volume
3 years ago
Two CLO managers - Voya Financial and Sound Point Capital Management - priced CLO refinancings on Friday worth a total of $621.9 million, bringing total refi volume for January up to $5.56 billion -
Refis, resets and reissues back in vogue as four US CLO managers print deals
3 years ago
Various shades of CLO refinancings dominate the US CLO primary market with four deals - two refis, a reset and a reissue - printing on Wednesday for a total volume of $1.1 billion. This surpassed all US CLO refinancings in the six months from March to September last year -
2020 wrap: CLO funds bloom despite rocky ground
3 years ago
2020 was a busy year for CLO fundraising, with Creditflux recording at least 30 funds that launched over the 12 months to invest across the CLO capital structure -
Sound Point completes two CLO transactions in a day
3 years ago
Sound Point Capital Management has completed two US CLO primary market transactions in the space of a single day, teaming with Barclays to print its latest new issue offering and later with Goldman Sachs to refinance the triple A notes of a CLO post-reinvestment period -
Fund performance: CLOs look to continue recovery with end of the year in sight
3 years ago
CLO funds claim the majority of positions in our top 10 -
OC health check: CLOs wake up when September ends
3 years ago
September showed a slight but clear improvement in CLOs’ over-collateralisation test results as 182 CLOs breached an OC test during the reporting period, compared to 198 in August. -
CLO pipeline: fixed income giants plan debut 2.0s with Morgan Stanley
3 years ago
Two large fixed income managers are pre-marketing debut 2.0 CLOs -
Credit Rendezvous: sometimes you have to dive deep to find value
3 years ago
Some parts of the credit market are fraught with danger, but that does not mean portfolio managers are avoiding them entirely, according to the Credit Rendezvous, Creditflux's 10-page quarterly report eaturing comments from 15 credit experts -
Global CLO b-wic round-up: CLO mezz tranches widen amid macro concerns
3 years ago
Last week was busy for the primary European CLO market but not for secondary, with €1.35 billion of new issue European CLOs priced across four transactions but just €190 million of European CLO paper listed in b-wics -
CLO pipeline: three behemoths prepare for quick-turnaround new issues
3 years ago
CLO managers have printed at a frenetic pace since the start of the quarter with $3.36 billion of issuance across all CLO markets and pricing types -
Two managers team up with Goldman to refinance 2017 CLO tranches
3 years ago
Two CLO managers - Sound Point Capital Management and Sculptor Capital Management - yesterday teamed up with Goldman Sachs to refinance fixed-note CLO tranches from 2017 vintage CLOs. Both managers' fixed coupon fell by 137 basis points in the process -
Manager tiering inceases as Sound Point prices fifth largest CLO post-covid
3 years ago
Sound Point Capital Management has priced the fifth largest CLO amid the coronavirus pandemic known as Sound Point CLO XXVII at a deal size of $503.2 million -
CLO pipeline: managers large, small and new ready to price in post-Labour Day surge
3 years ago
US managers are preparing a wave of new issue CLOs in the coming days, as the usual post-Labour Day pricing surge comes to fruition even in this most unusual of years -
Covid-19 pandemic draws CLO repricing from out of shadows
3 years ago
A rare CLO repricing took place last month, despite the option being written into CLO documentation for years -
Sound Point goes refi route for fixed notes of 2018 CLO
3 years ago
Sound Point Capital management is the latest CLO manager to refinance the fixed rate debt in one of its CLOs after working with Goldman Sachs to slash funding costs on Sound Point CLO XIX -
CLO pipeline: a marathon for some, a sprint for others
3 years ago
Following a week in which there were three US CLO refinancings, one new issue CLO and one upsizing, three more US CLO managers are marketing latest new issue CLOs after varying times away -
Global CLO b-wic round-up: Palmer Square sets highest cover as double B curve inverts
3 years ago
Palmer Square and MJX set the CLO secondary market trading range, but pickings in Europe were the slimmest they have been in almost five months -
Loan slump brings managers closer
3 years ago
A 19% slide in new US loan volumes last year has left CLO managers with fewer options in the primary market, and portfolio overlap between US managers has increased to 35.3% on average
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