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CLO pipeline: manager sets sail for primary market after three-year absence
5 years ago
Even though at least five US CLOs hit the market last week, the CLO pipeline still looks strong, especially in the US new CLO space -
Global CLO round-up: 15 months to one month - managers set their own pace
5 years ago
Three new US CLOs priced this week courtesy of; Seix Advisors, via BNP Paribas; Kayne Anderson, via Goldman Sachs; and Steele Creek, via RBC. In Europe, Oaktree Capital Management paired with Barclays to price Arbour CLO VI. -
CLO pipeline preview: Waterville fills the pipe as Par Four surfs high triple-C wave
5 years ago
At least seven CLO managers chose last week to launch their first deals of the year, with the market still set to absorb a robust level of issuance in the pipeline -
Global CLO b-wic round-up: fixed tranches make their way into European secondary
5 years ago
Last week brought the first instance of fixed coupon tranches trading in the European CLO secondary market this year, according to CLO-i. -
US CLO round-up: Golub orbits curve as managers double up
5 years ago
A breakthrough regarding Japanese risk retention rules ended last week on a high note for CLOs as the Japan Financial Services Agency has announed that CLOs can sit outside the remits of its securitisation regulations -
US CLO round-up: choose your own reinvestment period
5 years ago
Reinvestment periods have played an important role so far this year, with 30.8% of the new issue market opting for terms shorter than four years -
CLO pipeline preview: resets and refis set to make a comeback
5 years ago
Despite a slow build up, the pipeline offers respite with many deals lined up to come to market -
US CLO round-up: years fall off CLO market as it gets back to its old self
5 years ago
The CLO market is starting to look rejuvenated, with the dense pipeline having this week offloaded seven new broadly syndicated deals and one middle market deal as Creditflux goes to press – totalling $3.7 billion of new paper. -
Mid market CLO round-up: eyes (wide) open as mid-market CLOs re-awaken
5 years ago
AB returned to the middle market CLO space this week after a year out to price ABPCI V. It is the second middle market CLO of the year after Fortress Investment Group refinanced Fortress Credit Opportunities VII. -
US CLO round-up: Anchorage keeps primary open as debutants and newcomers fill pipeline
5 years ago
Anchorage Capital shored up the CLO market this week against an untroubled horizon as the sole manager to price a new issue, while TCI Capital Management priced the first refinancing of the year as Creditflux went to press. -
US CLO round-up: it's a slow start, but at least we have a benchmark as 42 deals fill pipeline
5 years ago
It’s safe to say 2019 is off to a slow start for the US CLO market. This past week, $1.4 billion has priced, bringing total issuance in January 2019 to $5.7 billion. That’s 70% below the January 2018 new issue volume of $20 billion. -
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 -
Global CLO round-up: there's something for everyone as CLOs put on a good spread
5 years ago
This week, equity investors have something to be thankful for with triple A CLO spreads showing signs of tightening -
US CLO round-up: roll up, roll up – CLO refis price wider than new issues
5 years ago
Forget about a CLO term curve with an efficient roll down; refinancings are proving to be expensive -
Global CLO round-up: what goes around comes around
5 years ago
It is no news that spreads are reverting back to the elevated levels of last year and, with each new deal pushing the market wider, the rolling three-month term curve in the US has been forced to stretch and move left, right and centre. -
Global CLO round-up: US market has a fair-way to catch up to Europe
5 years ago
As the Ryder Cup drives a wedge between the US and Europe, managers putt their hopes in CLOs. But the European market is in the lead with three deals to one as Creditflux goes to press -
US CLO round-up: what’s the benchmark these days?
6 years ago
They price at 112bp, they price at 126bp. They price at 116bp, they price at 123bp. They are US CLO triple As and they are pricing everywhere at the moment. -
Global CLO round-up: buttermilk-shakes things up as CLO spreads go everywhere
6 years ago
Ahead of the US Labor Day weekend, CLO issuers have been grafting away with $6.5 billion pricing across the US market through 11 deals -
CLO round-up: reset triple As price apart on divergent portfolios
6 years ago
CLO spreads have been volatile of late with seemingly no consistency in triple A CLO prints from deal to deal. In a reset-heavy week, BlackRock and Marathon Asset Management were positioned at opposite ends of the spectrum -
US CLO round-up: investors feast on over $3 billion of CLOs
6 years ago
One CLO manager has gone for a reissue as its main, another two have gone back for seconds of new issue - and this all leads to the inevitable: an expanding middle -
US CLO round-up: managers find short-dated resets are the way to go
6 years ago
Short-dated resets are popular right now - as are single B tranches -
US CLO round-up: volumes move in sync with 2017, but it could not be more different
6 years ago
$111 billion of CLO isssuance this year compared to $113 billion by this point last year. But new managers, spread movements and no risk retention make it seem like a completely different environment -
US CLO round-up: 2018 volumes hit $101 billion as short-dated CLOs come into fashion
6 years ago
CLO market participants were in high spirits at the Creditflux CLO Symposium and Manager Awards this week with attendees revelling in the amount of deal flow that the CLO market is generating -
B-wic round-up: demand for secondary CLO equity picks up in 2018
6 years ago
Secondary trading prices for US CLO debt tranches have been falling since the start of the year, with average cover prices for junior debt reverting to where they were six months ago. However, the opposite has to be said for CLO equity -
Mid market CLO round-up: Antares leads the way as triple As price at 125bp
6 years ago
Although US mid-market CLOs had a slow start to the year, the last two weeks have seen heightened activity in this sector with established players such as Antares Capital, Cerberus Capital Management, Fortress Investments and Midcap Financial pricing new CLOs
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