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Nuveen and SocGen pair for first time on new CLO with tight triple As
2 years ago
Nuveen priced its second new issue CLO of the year on Tuesday, via SocGen -
BlackRock issues low levered, mid-market CLO with two arrangers
2 years ago
BlackRock has priced its second CLO of the year backed by loans to middle market companies -
Global CLO trading lab: Equity supply spikes as investors go long
2 years ago
CLO equity returned to the secondary market in a big way last week, after a month of very little visibility, with $118.3 million of US CLO and €44.9 million of European CLO subordinated notes on sale -
CIFC joins post-covid CLO resetters
2 years ago
CIFC Asset Management reset the first of its four 2020 CLOs on Thursday, upsizing the deal by $11.5 million in the process -
Blackstone, Chenavari, CIFC and Five Arrows add €2 billion to weekly Euro CLO issuance
2 years ago
Nearly €2 billion of European CLO issuance priced this week, with Blackstone, Chenavari, CIFC and Five Arrows adding to Napier Park’s reset earlier in the week -
Golub downsizes equity tranche by $11.3 million in reset of 2013 CLO
2 years ago
Golub Capital Partners has cut the size of the equity tranche in its middle market CLO in a rare move -
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 -
KKR, Oak Hill and Madison print combined $1.3 billion CLO resets
2 years ago
KKR Credit, Oak Hill Advisors and Madison Capital each priced a CLO reset on Wednesday, with the three deals amounting to $1.27 billion -
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 -
Axa IM joins group of post-reinvestment CLO refinanciers
3 years ago
Axa Investment Managers has teamed up with Goldman Sachs to refinance a CLO four months out of reinvestment -
Bain and Citi print first new issue US CLO as partnership since 2018
3 years ago
Bain Capital Credit priced its third new CLO of the year on Wednesday, teaming up with Citi for the first time on a new issue deal since 2018 -
US CLO pricing lab: let’s refi like it’s 2017
3 years ago
The new issue US CLO market has been a slow burn over the last two weeks with only six deals being brought to the market amid wider triple A spreads. But the repricing market has been booming with today’s triple A levels still comparatively cheaper than previous vintages exiting their non-call periods -
Fund lenders heighten scrutiny after alleged subscription credit facility fraud
3 years ago
An ongoing investigation into an alleged subscription credit facility fraud has left market participants questioning standard due diligence processes -
Cerberus prints second mid market CLO of 2021
3 years ago
Cerberus Loan Management has become only the second manager to price two middle market CLOs in 2021, having teamied up with Wells Fargo to issue the $368.1 million deal named Cerberus XXXII -
Hayfin markets tight lower mezz tranches for CLO reset
3 years ago
Hayfin Emerald CLO II's lower mezz tranches are guided tighter than March reset averages -
Spreads rally sharply ahead of US high yield index roll
3 years ago
Credit markets are rallying into the weekend, pushing US high yield index CDX HY inside a key trading level ahead of its roll to a new series on Monday -
CDX HY roll calculations shift as new name change added
3 years ago
A sixth CDX HY constituent change has been added to the provisional list for the index's roll on Monday from series 35 to 36 -
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 -
Morgan Stanley IM ups CLO pace with second new deal in four months
3 years ago
Morgan Stanley investment management has cranked up the pace of its new CLO formation by printing its second deal in just four months -
Four managers print $1.5 billion CLO refis
3 years ago
Four CLO managers - CVC Credit Partners, CarVal Investors, Ellington Management Group and Neuberger Berman - each priced a CLO refinancing transaction on Friday -
European CLO repricings top €8 billion in 2021 as Ares and PGIM rework deals
3 years ago
Ares and PGIM printed two repricings of European CLOs on Wednesday, taking year-to-date volume to €8.29 billion -
Natixis scores CLO hat-trick with AB, OFS and Cerberus
3 years ago
The CLO primary desk at Natixis went on a $1.2 billion CLO spree on Friday, pricing deals For AB Private Credit Investors, Cerberus Business Finance and Orchard First Source -
MidCap prints largest CLO transaction for 12 months with $1.2 billion reset
3 years ago
MidCap, the middle market affiliate of Apollo, has priced the largest CLO primary transaction in almost exactly 12 months, printing a reset of its huge $1.2 billion mid market CLO named Woodmont 2017-2 -
It's all relative: senior CLO tranches tighten 18% in Europe as CDS indices sit out rally
The corporate credit rally in January is notable because some assets tightened to levels not seen in over a decade (loans), others rallied albeit with a lag (CLOs) and the most liquid stream of credit (CDS indices) defied moves in other asset classes to widen
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TCW CLO tranches digitally refinanced for second time
3 years ago
TCW CLO 2019-1 AMR was digitally refinanced for the second time today following the third successfully cleared applicable margin reset auction
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