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Hidden loan tail risks and mounting single B exposure could pose problem for CLOs: Barclays
2 years ago
A solid rally for leveraged loans this week - against returning weakness in bonds - has put focus back on the market, which seemingly has little tail risk priced in. But short term support factors and a dwindling triple C bucket mask the quality skew, warn Barclays strategists in a note today - which could spell downgrades for single-B minus rated loans -
Mezz and junior debt tighten sharply with BlackRock European CLO
2 years ago
BlackRock has issued its latest European CLO via Bank of America, with pricing on lower mezzanine tranches pointing to tightening in the market -
Global CLO league tables - March 2022 YTD
2 years ago
Global CLO league tables - March YTD -
Euro CLO league tables: Jefferies takes huge lead as managers bunch up
2 years ago
The increased volatility and geopolitical risk brought about by Russia’s invasion of Ukraine meant European CLO issuance dropped off in March after a strong February -
BlackRock Euro CLO set to price, with KKR and ICG in line and 115bp emerging as triple A benchmark
2 years ago
BlackRock is expected to price a European CLO issue today via Bank of America. The immediate CLO pipeline is thin, but KKR is marketing a deal via Morgan Stanley and ICG is marketing via Citi -
Capital Four expands in Europe with Frankfurt office
2 years ago
Capital Four has expanded its presence in Europe by opening a Frankfurt office -
CLOs retreat back to Libor as Sofr gets cancelled
2 years ago
Cancel culture has arrived in the CLO market, with newly implemented benchmark Sofr having been scrapped in favour of a return to Libor, after it 'made managers feel sad' -
Bain goes long with new European CLO as 2022 issuance passes €15 billion
2 years ago
Credit Suisse arranged Bain’s €416.72 million deal, named Bain Capital Euro CLO 2022-1, which features a 4.6 year reinvestment period and a two year non-call -
WhiteStar gets off the mark in Europe with reset of 2020 CLO
2 years ago
WhiteStar Asset Management has reset a 2020 vintage former MacKay Shields European CLO, slashing triple As down to 117 basis points over Euribor and adding additional equity -
European CLO triple As slide over 30bp in a month
2 years ago
Partners Group has priced Penta CLO 11 today, sources say with the triple A notes pricing at 125bp. This confirms that senior CLO notes are now in the 120-125bp range, having been 30bp tighter just a month ago -
PGIM prints European CLO with triple As at 120bp
2 years ago
PGIM priced its latest European CLO, Dryden 91 Euro CLO 2021, today via Citi with triple As at 120bp -
Diameter moves into Europe with top credit trading hire
2 years ago
Diameter Capital is expanding in Europe with a big sell-side hire -
European CLO triple As set to hit 120bp with PGIM pricing today
2 years ago
PGIM is poised to price a European CLO today with sources indicating that the deal – Dryden 91 – is due to issue senior notes at 120 basis points. This is set to be the new benchmark, but it is almost 30bp wide of levels in mid-February -
CLO lawyer joins Schulte Roth & Zabel as partner in London
2 years ago
Schulte Roth & Zabel has hired a CLO expert as partner in its London office -
Accunia eyes secondary CLO equity through new fund
2 years ago
Accunia Credit Management has raised a new CLO fund -
European CLOs well-placed to counter volatility: Fitch
2 years ago
High inflation could hamper borrowers, but European CLOs are in decent shape with most loan issuers having refinanced last year, according to a report by Fitch Ratings. Other parts of structured credit are not as well insulated against risks. -
Static Euro CLO triple A basis disappears as Palmer Square prints
2 years ago
Palmer Square Capital Management has printed its latest static European CLO, Palmer Square European Loan Funding 2022-2 -
Hayfin short-dated Euro CLO features loan tranche and StanChart as co-placement agent
2 years ago
Hayfin Capital Management has become the latest manager to print a shorter-dated, 3.13-year reinvestment European CLO -
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 -
Chenavari Euro CLO brings another co-placement agent role for Standard Chartered
2 years ago
JP Morgan was lead arranger and co-arranger on Chenavari’s latest €307.4 million deal, named Toro European CLO 8, with Standard Chartered a co-placement agent -
CBAM: star power, friends in insurance, and doing things 'my way'
2 years ago
"And now the end is here, and so I face that final curtain... I've lived a life that's full, I traveled each and every highway, And more, much more
I did it, I did it my way". Sinatra could easily have been thinking of CBAM when he penned these lyrics. We look back at how a group of experienced CLO officials came together to launch a mega player in the CLO business in no time at all -
Napier prints short-dated Euro CLO with low ramped warehouse
2 years ago
Standard Chartered picked up another co-placement agent role, while Jefferies was lead arranger on the upsized Henley CLO VII -
Fitch upgrades 48% of European CLO tranches placed 'under criteria observation'
2 years ago
Fitch Ratings has resolved the 1,246 European CLO notes it placed ‘Under Criteria Observation’ in September, after updating its CLO rating criteria -
Signal hires former BlueBay official to build European CLO platform
2 years ago
Signal Capital has appointed a partner and head of leveraged credit for its newly-established CLO platform -
Elfa slams aggressive voting cap provisions in European lev loan deal
2 years ago
"These covenant terms severely undermine the notion of equal contractual rights and pro-rata principles for creditors," Elfa said
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