Brigade prices new European CLO
Following a quiet period on the primary market, Brigade Capital Management returned to the primary market this week with its first European issue of the year

DWS grows CLO team in Europe with senior hire
DWS continues to build out its nascent CLO team with the recruitment of a well known CLO portfolio manager

First debut manager of 2024 prices
Yesterday afternoon saw the upsized pricing of a European CLO that marks the first market debutante to emerge this year

Details emerge of Contego X reset
Five Arrows Managers announced a reset of their 2022-vintage Contego CLO X earlier this week, with leaked pricing info now available

Alcentra prints second European CLO of 2024
Alcentra’s second CLO of the year, a new European issue was arranged by Deutsche Bank and priced at the end of last week

Debut manager markets first European CLO
A new European CLO manager is in the market with its first CLO, with the deal expected to price in the next few days

Europe sees another tight print
CVC added to last week’s rush of European deals with CVC Cordatus Loan Fund XXXI – the manager’s seventh transaction of the year

European CLO triple As hit 146
European senior spreads hit a new tight last week in a new CLO with the tightest weighted average cost of capital of any European CLO so far this year

Napier Park prices first European new issue CLO of the year
Priced this afternoon, Napier Park’s third deal of 2024 marked its first European offering this year – a new-issue CLO valued at EUR 456.9m, arranged by Natixis.

European reset highlights weakness in mezz despite robust senior demand
Partners Group priced its second European CLO of the year last Thursday – a EUR 406m reset of the 2022-vintage Penta CLO 12

Strong run helps CLOs shrug off Altice downgrade
It may be the largest triple C downgrade in years, but the CLO market is relatively unperturbed by Altice’s fall from grace.

EU managers seeking retail investors roll out first ELTIF 2.0 credit funds
EU managers seeking retail investors roll out first ELTIF 2.0 credit funds

Fund performance
In February, CLO funds once again claimed the majority of top positions in our fund ranking — this time taking eight of the top 10 spots (see table below).

The Last Tranche with Christine Ferris
In the latest edition of The Last Tranche podcast we talked to JP Morgan’s global head of CLO primary Christine Ferris about why she loves working with debut managers, despite the extra challenges they face coming to market.

European resets return as Carlyle reworks 2022 vintage deal
This week’s latest European CLO reset from Carlyle Group maintained the market’s trend so far this year for sub-150bps pricing levels

Allianz gears up to launch European credit impact investing fund
Allianz Global Investors filed regulatory documents in Luxembourg this week for a new impact investing fund, the latest in a string of similar strategies

IACPM survey finds credit PMs still gloomy, but less so than last quarter
Respondents to the latest IACPM Credit Outlook Survey are still negative about future credit conditions, but less so than in previous surveys

Canyon returns in a big way for second European CLO
Thirteen months after its European debut, Canyon Partners priced its upsized second European deal yesterday

Napier Park resets 2017 vintage
Napier Park Global reset its Regatta IX Funding yesterday according to market sources, adding four tranches and a fixed-rate coupon

Palmer Square joins the European CLO index party
Palmer Square is the latest firm to launch an index designed to benchmark the European CLO market, following two other launches in March.

Nassau joins delayed draw issuance wave
The latest manager to draw down a delayed draw tranche in the run-up to Easter was Nassau Corporate Credit, the ninth such draw-down so far this year

Global Loan Highlights 1Q24: Don’t call it a comeback
Loan refinancing share hits historic high, but IG issuance stymies YoY global growth

Fair Oaks makes punchy return to European CLO primary
Fair Oaks Capital returned to the primary market for the first time in two years, getting tight pricing on its Fair Oaks Loan Funding V

Permira prices tenth European Providus CLO
Permira Credit threw their hat into the increasingly crowded European ring with their first deal of 2024

Rockford Tower prints the first short-dated European CLO this year
Rockford Tower has reset Rockford Tower Europe CLO 2018-1 in the first short-dated European deal of 2024