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European CLO triple As hit 146
22 days ago
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 resets 2017 vintage
1 month ago
Napier Park Global reset its Regatta IX Funding yesterday according to market sources, adding four tranches and a fixed-rate coupon -
Arini is already back as second CLO prices
1 month ago
Continuing its rapid advance in the European market, Arini Capital priced its second CLO last week -
Brookfield infra debt fund beats fundraise target
6 months ago
Brookfield Asset Management has held an above-target final close for its third infrastructure debt fund, in a sign of strong appetite for debt in contrast to tough fundraising conditions in infrastructure equity -
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 -
Australia's largest super fund beefs up international team
9 months ago
Australia's largest pension fund is is growing its team across other geographies in an effort to increase its international presence -
Beneath the triple C: Life could be better, but it’s just a letter, under the CCC
1 year ago
Many market participants were eagerly looking forward to a break in December after a gruelling year, but the rating agencies were in no mood to oblige. -
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. -
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 -
Pimco targets up to $5 billion for flexible credit fund
1 year ago
The fund will invest across capital solutions, distressed and stressed opportunities, and idiosyncratic positions -
Bruises start to swell, despite BoE pulling its punch
1 year ago
Market mood is growing uglier as the week progresses, with global investors increasingly looking for safety as the impact of central bank interventions combines with escalating fear over Russia’s campaign against Ukraine -
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. -
European CLO market set to reap rewards from Harvest as Nochu returns
1 year ago
Prolific CLO triple A investor Norinchukin is set to make its grand return to European CLOs with the Japanese bank providing anchor triple A investment in Investcorp’s forthcoming new issue -
Beneath the triple C: CLOs take first knock since covid scrapes
1 year 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 -
US travel, energy and retail credits take big hit as variant rout extends
2 years ago
The widening trend in credit is extending as the weekend approaches, with US spreads picking up the baton from Europe's earlier surge -
Covid fourth wave lockdowns hit credit with travel cos under pressure
2 years ago
A flattish week in credit gave way to a spread widening move on Friday, as investor concern focused on a fourth wave of covid-19 cases in Europe and further signs of Chinese economic slowdown -
CLO issuance set for big slump as managers relax on Sofr: JP Morgan
2 years ago
CLO new issue supply will likely decline sharply from this month to next, with the rush to complete deals ahead of the transition to Sofr base rates having added to November's historical heavy weighting over December, say JP Morgan structured credit strategists -
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 -
ESG-compliant CLO manager recycles assets from 2015 deal for upcoming Euro CLO
2 years ago
Recycle your legacy loan assets today, for a better CLO tomorrow -
Rising star portfolio has room to run, says JP Morgan
2 years ago
The theme of 'rising stars' still has room to run and investors should consider a basket of candidates to benefit in the coming months, according to JP Morgan credit strategists -
Blackstone opts for another four-year reinvestment Euro CLO in upcoming reset
2 years ago
Blackstone has followed a four-year new issue with plans for a four-year European CLO reset -
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 -
BlackRock adds to Euro CLO deal size with reset
2 years ago
BlackRock has reset a 2017 vintage CLO, increasing the deal size slightly and offering a higher return on the lower part of the capital structure -
Napier Park slashes Euro CLO costs on post-covid deal reset
3 years ago
Napier Park has cut over 90 basis points off the cost of CLO financing on a post-covid deal, Henley CLO II -
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
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