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Latest US reset is for 2020-vintage CIFC deal
3 months ago
Following a half-billion-dollar refinancing of a deal in 2020, CIFC Asset Management has returned to the primary market for another bite at the cherry with a reset -
CSAM refinances giant 2014-vintage US CLO
3 months ago
Pricing its second deal in the space of a week, Credit Suisse Asset Management is in the midst of a prolific February, with its latest transaction a sizeable USD 736.737m refi arranged by Nomura -
Sculptor refinances second CLO this month
3 months ago
Following its OZLM Funding II refi earlier in the month, Sculptor Loan Management returned to the market again on Thursday with a partial refi of the 2017-vintage OZLM XXI -
KKR keeps it short-dated for latest reset
4 months ago
Morgan Stanley has priced the first short-dated deal of the year, with a USD 427.9m reset of the 2020 vintage KKR CLO 28 -
CLO market round-up: holiday cheer hits as US senior spreads move in
5 months ago
The holiday period saw a brace of end-of-year US deals pricing, with a range of new issues, resets and a refi to lead the market into 2024, and senior spreads move firmly back in the 160s. -
US CLO credit Air Methods Corporation files for bankruptcy
7 months ago
Air Methods Corporation, a widely held name in the US CLO market, filed for Chapter 11 this morning reporting USD 1bn to USD 10bn in liabilities. -
CLO rankings: manager AUM, advisory firm and trustees Q1 2023
1 year ago
Two acquisitions close to shake up the top and Dechert takes early lead over Milbank in manager counsel rankings -
$1 billion mid market CLOs price from Antares and Deerpath
1 year ago
Antares Capital and Deerpath Capital Management each priced a new middle market CLO on Friday, with the two transactions clocking in at just under $1 billion -
US CLO league tables: Blackstone and BofA rise above competition in volatile 2022
1 year ago
A tumultuous year in the US CLO market led to total issuance dropping from a record $391.2 billion in 2021 to $134.8 billion in 2022 -
CLO rankings: manager AUM, advisory firm and trustees Q4 2022
1 year ago
As 2022 draws to a close manager consolidation through mergers and acquisitions have been balanced out by new market entrants to leave roughly the same number of managers that entered the year, at least for now. -
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. -
US CLO league tables: BofA and Citi going down to the wire but Blackstone set to clinch manager crown
1 year ago
20 US CLO managers priced last month to take year-to-date new issue volumes to $114.2 billion. This is $54.7 billion less than 2021’s total new issuance, but $34.1 billion more than 2020 and $6.1 billion more than 2019 -
Beneath the triple C: Stormy October hits CLOs with rising tide of downgrades
1 year ago
After a slight respite in the pace of downgrades over the summer for CLOs, October brought renewed momentum as macro-economic pressures - primarily high interest rate burdens for corporate borrowers and supply side inflation - became the recurring rationale -
US CLO league tables: Usual suspects keep market rolling as Citi moves within $1 billion of BofA
1 year ago
October experienced $7.1 billion of US CLO issuance with over half of that priced by the managers that occupy one to eight in the US CLO new issue league tables -
US CLO league tables: BofA’s big month opens gap with Citi but Palmer Square closes in on Blackstone
1 year ago
After a quiet August, the US CLO market returned to what is the new normal (or new, new normal depending on the timeframe you're using). Managers priced $11.3 billion of US CLO paper last month, extending a trend -
Beneath the triple C: US CLOs take a dip in the triple C as Europe watches from the sun lounger
1 year ago
The US CLO market bore the brunt of downgrades to triple C in July and August, with a total of $6.22 billion of paper affected. European CLOs enjoyed a more relaxing summer holiday, with only 1 name representing €33.88 million worth of bonds downgraded to triple C. -
US CLO league tables: BofA holds off Citi for another month
1 year ago
$6.4 billion of US CLO new issues priced in August, down $11.2 billion from August last year but $1.1 billion more than August 2019 -
US CLO league tables: Heavyweights knock deals out as familiar faces stay top
1 year ago
In June 25 managers braved the US CLO market, among which only Columbia Management priced its first deal of the year -
Can someone call the triple A? We’ve stalled
1 year ago
CLO issuers are in need of AAA roadside assistance. Despite the emergence of new buyers, a lack of senior CLO investors — particularly US banks — has brought the primary market to a halt -
US CLO league tables: Massive Octagon CLO keeps BofA in lead as top managers tap new issues
1 year ago
For the second straight month, the US CLO market issued $12.5 billion of paper. But unlike April, which was all new issuance, May had one refinancing and the first reissue in the market since October -
Beneath the triple C: CLOs take first knock since covid scrapes
2 years ago
CLO managers have been hit by a number of loan downgrades to triple C for the first time since the wave of pandemic-related cuts trickled to a halt in early 2021. Companies indirectly linked to the health sector suffered most in May -
Octagon prices its largest CLO with high-rated mezz
2 years ago
Octagon Credit Investors on Friday priced its largest ever CLO, and the largest broadly syndicated loan-backed CLO in the market this year -
Barrow Hanley holds final close on captive CLO equity fund
2 years ago
Barrow Hanley Global Investors has held a second and final close of its CLO equity fund at $120.5 million -
Arb work pays off
2 years ago
With day-one arbitrage alone delivering projected CLO cash-on-cash returns of 20-25%, 2021 may have been the best year ever for equity investors — at least until CLO spreads began to widen -
US CLO league tables: BofA takes a big leap ahead
2 years ago
It has been a slow start to the year for the US CLO market, which has so far welcomed $33.42 billion worth of issuance – the second lowest in the last five years. But Bank of America is taking big strides
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