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PGIM goes all in as it refis 2016 CLO for second time
4 years ago
Having refinanced the junior debt in a US CLO last year, PGIM has refied the entire capital stack of its 2016-vintage CLO -
PGIM resets January 2019 'print and sprint' CLO for three years
4 years ago
PGIM has teamed up with Jefferies to reset its ‘print and sprint’ CLO from earlier this year, extending the deal’s reinvestment period for three years -
US life insurers grew their CLO investments by 31% in 2018, finds Moody's
4 years ago
US life insurers held $79.4 billion in CLO exposure at the end of 2018, which is up 31% from the amount held at the end of 2017, according to a report by Moody’s Investor Service -
Controlling equity stake in 2018 CLO fails to trade in secondary market
4 years ago
Over 90% of an equity tranche from a 2018 Sound Point Capital Management CLO was available on b-wic yesterday but failed to trade -
Correction: US CLO round-up: newcomers make waves in CBOs and mid market
4 years ago
The CLO market is showing little sign of constraint as three new names entered the market last week – two debut middle market deals priced while one US CBO closed -
PGIM prices new issue CLO via RBC as triple A spreads tighten
4 years ago
PGIM yesterday priced its seventh CLO transaction of the year, teaming up with RBC to issue Dryden 68 -
Global b-wic round-up: Short-dated CLO paper hits the market
4 years ago
Last week brought over $800 million of b-wics listed in the US CLO secondary market for the first time this month, with around 10% being paper that had a reinvestment period that ended in 2019. -
European managers find tight debt execution by refinancing once more
4 years ago
PGIM and Carlyle Group joined the growing list of CLO managers to refinance in Europe since the seven-month refinancing drought was brought to an end last month – and these managers are enjoying tight debt execution on their liabilities -
MGG appoints direct lenders to two US offices
4 years ago
Direct lender MGG Investment Group has appointed two officials to its New York and Dallas team, Creditflux has learned -
Managers slide down term curve
4 years ago
PGIM and Voya were among managers issuing short dated deals in the first quarter. These CLOs, along with a surge in b-wics, kept up the supply of short dated paper as refinancings fell away -
CLO pipeline: refinancings to make a comeback
5 years ago
CLO refinancings look set to continue their recent surge in the US CLO market, with another five refinancings and two resets appearing in the pipeline. -
PGIM prices triple As at 133bp in one of the tightest new CLOs of the year
5 years ago
PGIM priced its latest new CLO yesterday, named Dryden 72 CLO, with triple As at 133 basis points over Libor -
PGIM prepares new US CLO via Goldman Sachs
5 years ago
Fresh off pricing a European CLO, PGIM is marketing what will be its second new US CLO of the year -
European CLO volumes reach €10 billion in 2019 as PGIM prices
5 years ago
The deal also features three fixed-rate tranches -
CLO pipeline: managers seek to return as others arrive, after testing Q1
5 years ago
With the first quarter of 2019 now in the books, the CLO market looks to be continuing where it left off. -
PGIM markets new European CLO with Deutsche Bank
5 years ago
PGIM is back in the European CLO primary market after five months, with the manager marketing a new issue deal named Dryden 69 Euro CLO 2018 -
PGIM favours short-dated CLOs with its second reset of the year
5 years ago
PGIM priced its second CLO reset of the year yesterday, teaming up with Goldman Sachs to rework its 2014 vintage transaction named Dryden 36 Senior Loan Fund -
US CLO league tables: new issues drive volumes as Morgan Stanley and Citi occupy top two spots
5 years ago
Two months into 2019 and the US CLO market looks very different to previous years, as the balance of deal origination has changed -
PGIM prices largest CLO transaction since May in billion-dollar reset
5 years ago
PGIM priced 2019’s biggest CLO transaction so far yesterday with a $1.01 million reset arranged by Goldman Sachs -
Prudential adds mid market energy specialist to lead fund origination
5 years ago
Prudential Capital Group, the private capital arm of PGIM, has appointed a managing director of Prudential Capital Energy Partners -
Keep calm and buy corporate loans
5 years ago
Calm heads prevailed in 2018. Markets were volatile and risk retention was supposed to cause problems, but there was no need to panic and volumes went on to break records set in 2014 -
US CLO round-up: Dry January ends early as spreads get hammered
5 years ago
Is the 2019 vintage going to be a classic? It's certainly started off slow, but it could mature into something very special if loan volatility persists -
PGIM redeploys print and sprint strategy, pricing second short new issue via Jefferies
5 years ago
PGIM has continued its print and sprint strategy with a second short CLO in as many months, as the primary market finally reawakens -
Euro CLO league tables: New issues dominate in record-breaking year
5 years ago
The European CLO market bloomed to the fullest in 2018 and new issue volumes broke all records as €27.59 billion of new paper entered the market. Including all forms of refinancings, 2018 volumes reached €43.68 billion – just €2.05 billion short of 2017’s figures -
PGIM takes advantage of loan volatility to price opportunistic one-year CLO
5 years ago
PGIM has accomplished its goal after pricing an opportunistic CLO, which takes advantage of falling secondary market loan valuations
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