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European resets return as Carlyle reworks 2022 vintage deal
26 days ago
This week’s latest European CLO reset from Carlyle Group maintained the market’s trend so far this year for sub-150bps pricing levels -
European CLO market stirs as first refi of the year prices
2 months ago
BNP Paribas injected some life into the sluggish European CLO market on Monday with the first European refi of the year -
European CLO triple As join the sub-170bp club as Redding Ridge deal prints
8 months ago
Redding Ridge printed the largest (and tightest) European CLO this year in a €499.35 million transactions priced by BNP Paribas -
Euro CLO triple As could drop to 195bp as GoldenTree markets
1 year ago
Do you remember, the 195bp prints in September? -
Beneath the triple C: Winter is coming for CLOs as downgrades outstrip upgrades
1 year ago
Both US and European issuers have felt downward pressure from the rating agencies as we head towards the end of the year, with downgrades to triple C now firmly outpacing upgrades out of it. -
CVC and PGIM add to European CLO new issue surge
1 year ago
CVC and PGIM joined Ares, Neuberger and Oaktree in pricing new issues last week -
Making the grade: CLO managers move into IG bonds
1 year ago
CLO managers have been using the incredible volatility in credit markets this year to add an unfamiliar asset to their portfolios – investment grade bonds -
Quarterly rankings: Carlyle climbs to top of pack with CBAM boost
1 year ago
Carlyle Group has cemented itself as the largest manager globally, following its acquisition of fellow CLO manager CBAM -
Beneath the triple C: ebbs and flows leave triple C levels at a temporary stasis
1 year ago
Following a rising tide of downgrades in May the loan market stabilised somewhat in June, with seven issuers held by CLOs downgraded to triple C and a counter-swell of five names upgraded to single B. -
Euro CLO league tables: PGIM and Jefferies lead as Euribor caps come back in fashion
2 years ago
April was the quietest month of the year in the European CLO market with only €2 billion pricing across four new issues and one reset -
PGIM opts for two-year reinvestment on Euro CLO with triple As at 110bp
2 years ago
BNP Paribas arranged the €401.3 million deal, which features a shorter than traditional reinvestment and non-call period -
Investcorp triple As hit 110bp in first Euro CLO of year
2 years ago
Jefferies arranged the €451.9 million deal, named Harvest XXVIII, which Investcorp upsized from €400 million -
Jefferies builds on strong January as it markets Cairn European CLO
2 years ago
Jefferies is marketing its fourth European CLO of the year, this time pairing with Cairn Investments on a new issue -
Euro CLO league tables: Jefferies nips ahead of Barclays as overall leader
2 years ago
The European CLO market has added laurels to a record-breaking year with one of the highest issuance months for new paper. -
Global CLO trading lab: bank sells $834 million triple As in quarterly reallocation as hedge fund trades CLO equity
2 years ago
Thursday’s secondary CLO market was the busiest of 2021, with over $1 billion of US CLOs on offer. This featured an enormous b-wic worth $834.3 million, where sources have told Creditflux of the bank behind the aucton. While a large credit hedge fund is said to have sold out of control CLO equity -
Global CLO trading lab: Seasoned equity prices lag as debt spreads level out
2 years ago
The CLO secondary market took a back seat to the surging primary market in August and September with secondary US CLO volume accounting for just 3.7% and 4.2% of the total US CLO market (primary and secondary volumes). But opportunities are there in CLO equity tranches -
CLO pipeline: GoldenTree makes good home for single Bs in swarm of activity
2 years ago
Wider CLO spreads are not deterring US CLO managers or equity investors, as 14 new issues, 10 resets and seven refinancings enter the pipeline -
CLO triple As drip wider in Europe as CVC prices refi in line with recent new issues
2 years ago
European CLO refinancing triple As have widened with CVC’s Cordatus Loan Fund XIV the latest to price. -
Global CLO pricing lab: let’s all point at that 108bp print while spreads leak out
2 years ago
The tsunami of CLO paper coming to market is the biggest technical factor causing spreads to widen, according to sources -
CVC pairs with Goldman to market Euro CLO refi
2 years ago
CVC is pairing with Goldman Sachs to refinance a 2017 European CLO, in a deal that will merge some of the original asset classes -
Global CLO pricing lab: investors get over fatigue and embrace reset roll over
3 years ago
The demand for CLOs is showing no signs of slowing down after the market had experienced some fatigue at the end of the first quarter and into the second. In the last two weeks, there have been 47 CLO transactions across all forms of pricing in the three markets; led by 18 US CLO new issues -
CLO pipeline: Deutsche Bank and Carlson hit comeback trail
3 years ago
The CLO market is preparing to be very active in the coming weeks, as the issuance slow-down is set to be in the rear view mirror -
CVC cuts cost of debt by 17.5bp with Euro CLO partial refi
3 years ago
CVC has teamed up with Jefferies to partially refinance its 2018 vintage European CLO, CVC Cordatus Loan Fund XII, cutting its cost of debt by 17.5 basis points -
Global CLO b-wic round-up: record level of CLO paper stalls rally
3 years ago
Record levels of primary and secondary CLO supply has left investors spoilt for choice and led to the CLO rally stalling -
Beneath the triple C: resurfacing credits surpass divers as tide turns for CLOs
3 years ago
Upgrades above triple C overtook downgrades to that rating or below in February. Moody's or Standard & Poor's cut six corporate debt issuers to triple C or below in February, out of which just four can be found in CLO portfolios
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