Refine Search
Article Categories
Strategy Tags
- Direct lending (8)
- High yield bonds (7)
- Investment grade credit (3)
- Structured credit (5)
- CLO (96)
- Distressed debt (3)
- Leveraged loans (6)
- Synthetic/SRT (4)
Geography Tags
-
Zais CLO reset prices wide of market, but strong portfolio boosts junior tranches
2 years ago
Zais Group has followed up its new issue CLO last month by resetting a 2020 CLO, sources say. Just like Zais CLO 17, the reset Zais 16 was arranged by Jefferies, and again priced substantially wide of market averages. However, the junior notes priced in line with, and at times tighter than, Zais 17 – perhaps reflecting the strong positioning of Zais 16’s portfolio. -
JP Morgan prints CLOs for CarVal and Western
2 years ago
JP Morgan has issued new CLOs for CarVal CLO Management and Western Asset Management Company -
Sixth Street new CLO scores fifth tightest funding costs in Q2
2 years ago
Sixth Street Partners priced its third new CLO of the year on Friday and scored the fifth tightest funding costs of the second quarter -
CLO triple As leak wider but mezz comes in as Carlyle, PGIM and KKR price Euro new issues
3 years ago
CLO heavyweights Carlyle, KKR and PGIM all took to the primary market on Friday pricing a total of €1.22 billion issuance -
European CLO repricing volume passes €14bn as ICG resets 2019 deal
3 years ago
Intermediate Capital Group becomes the latest CLO manager to reset a deal, having reworked its 2019 vintage St Paul’s CLO X -
Blackstone and Hayfin get Euro CLO new issues rolling as single Bs diverge
3 years ago
Blackstone paired with BNP Paribas for Carysfort Park, while Hayfin followed the yellow (or rather gold) brick road to pair with Goldman Sachs on Hayfin Emerald CLO VI -
Euro CLO mezz spreads leak wider but seniors hold firm as ICG resets
3 years ago
European CLO mezzanine reset spreads have widened out slightly this week, highlighted by Intermediate Capital Group’s reset of St Pauls CLO VI via JP Morgan -
Blackstone scores one of tightest ever 2.0 US CLO funding costs
3 years ago
Blackstone Credit has priced one of the tightest 2.0 CLOs ever with funding costs of just 141.61 basis points -
Bain features triple B discount in third-tightest CLO post-covid
3 years ago
Bain Capital Credit priced its first CLO of 2021 on Monday, securing the third tightest funding costs for a five-year reinvestment deal post-covid in the process -
US CLO triple As tighten reach 105bp as CVC registers lowest funding costs since March 2018
3 years ago
CVC Credit Partners brought the CLO market to new tights on Tuesday after pricing its triple A notes at just 105 basis points over Libor -
BlackRock brings three-year US CLO triple As inside 100bp
3 years ago
BlackRock has priced a three-year reinvestment CLO via Morgan Stanley with the triple As yielding just 99 basis points over Libor -
January European CLO volume shoots to €2.9 billion as Five Arrows refis 2017 deal
3 years ago
It has been a busy start to the year for European CLO investors, despite new issues having been slow to get going. Five Arrows is the latest manager to take advantage by refinancing a 2017 vintage CLO - Contego CLO I -
CLO pipeline: OFS to make comeback as 2020 absentees eye new issues
3 years ago
As liability spreads tighten day by day, the CLO pipeline is filling fast. 2020 absentees are joining the parade as four US managers and three European managers aim to return to the new issue market after taking a break of 12 months or longer -
Global CLO b-wic round-up: Junior tranches rally amid heavy supply, including portfolio liquidation
3 years ago
The US CLO secondary market rally is showing no signs of slowing down after a week of over $1 billion worth of bonds was listed and well absorbed, according to market sources. The European market also had a roust week with over €300 million of paper up for grabs, although the market stayed generally flat with some tightening in double and single Bs -
CLO double Bs rally as Bridgepoint prices debut European CLO
3 years ago
Bridgepoint has become the fifth debut European CLO manager in 2020 with the manager pricing Bridgepoint CLO I today via Barclays -
US CLO round-up: 23 managers wait in the wings after avoiding pre-election rush
3 years ago
CLO managers rushed to the primary market last week as they sought to lock in financing before the US presidential elections. This resulted in one of the busiest weeks in the primary market with 10 new issues -
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. -
Chicago-based manager returns to CLO primary with first new issue for 17 months
3 years ago
PPM Loan Management has staged a CLO primary comeback by printing its first new issue deal in just over 17 months -
US CLO league tables: refis return as Apollo and Citi maintain leads
3 years ago
US CLO monthly issuance rose above $8 billion in July for the first time since the coronavirus pandemic wreaked havoc across the globe -
OC health check: breaches start to take toll on July payment dates
3 years ago
37 CLOs reported an over-collateralisation test failure last week, but this was a falling percentage of those publishing trustee reports and none were fresh breaches -
OC health check: slowing of downgrades offers some reprieve for CLOs stuck in breach
3 years ago
89 deals reported overcollateralisation breaches last week, but only seven of these deals were breaching any OC test for the first time, according to the latest reports available on CLO-i -
Beneath the triple C: downgrade rate slows as $8 billion of CLO loans tumble
3 years ago
May offered some respite to CLO portfolios as corporate downgrades to triple C were reduced heavily - affecting just $6.67 billion of US CLO paper and €1.09 billion of European CLO portfolios -
Global CLO b-wic round-up: double Bs lead the way as rally endures and drags equity with it
3 years ago
The CLO secondary market continued its hard rally last week as prices rose across the whole asset class with double B rated CLO bonds leading the charge tighter -
OC health check: some CLOs cure failures, but quarter of US deals still in breach
3 years ago
117 deals failed over-collateralisation tests in the last week, although only 46 of these were deals reporting breaches for the first time, according to the latest reports available on CLO-i -
Junior spreads finally tighten as Fair Oaks prices Europe's fifth pandemic-era CLO
3 years ago
Fair Oaks Capital today became the fifth CLO manager to price a new issue amid the coronavirus pandemic
Want all the latest news, comment, analysis and data?