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CVC and PGIM add to European CLO new issue surge
1 year ago
CVC and PGIM joined Ares, Neuberger and Oaktree in pricing new issues last week -
Ares targets today for European CLO pricing
1 year ago
Ares Management is targeting today to price its new issue European CLO, Ares European CLO XVI -
Ares markets first 2022 CLO in Europe
1 year ago
Ares Management is targeting Wednesday to price a new issue European CLO -
Capital Four prints two-year ESG European CLO
2 years ago
Capital Four has become the latest European CLO manager to print a short-dated new issue, with JP Morgan arranging the €351.6 million deal, named Capital Four Euro CLO IV -
BofA adds to Euro CLO volume with Permira new issue and Spire triple A refi
2 years ago
Bank of America added €635.6 million to its European CLO arranging volume having priced a new issue for Permira and a partial refi for Spire -
BlackRock resets 2020 European CLO with triple As tightening to 97bp
2 years ago
Bank of America arranged the €351 million BlackRock European CLO X -
All eyes on NFP as credit seeks exit from 'no man's land'
2 years ago
Credit markets look to be ending wider on the week but, with focus mainly on today's US non-farm payroll numbers, the lack of movement in early trading could give way to a stronger directional play ahead of the long US weekend -
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 -
KKR includes fixed-to-floating rate tranche with cap in European CLO reset
3 years ago
KKR has become the latest manager to insert a triple A loan tranche and a fixed-to-floating rate tranche as part of a European CLO transaction -
High yield has primary bonds more than Georgia on mind in third day of underperformance
3 years ago
European high yield credit is on a run of underperformance as the first signs of primary market bond issuance appear, with spreads widening for a third day straight against improvement in other asset classes -
Indices retrace wider as contested election scenario looms
3 years ago
Credit is moving wider this morning as a contested US presidential election looms. This comes as incumbent Donald Trump threatened to go to the US Supreme Court in the early hours of this morning, citing election fraud and calling to stop votes being counted -
Global CLO b-wic round-up: dealers get involved amid rally, but dispersion persists
3 years ago
The CLO secondary markets returned to form last week with $716.2 million of US CLO bonds and a further €306.5 million of European CLO paper listed. Although for both markets over half of the total volume listed came from Thursday’s scheduled b-wics -
Newcomer wins Creditflux Manager of the Year award in virtual event
3 years ago
Last night Creditflux presented its first ever virtual hosting of our annual Manager Awards, with over 450 people tuning in live to see the winners announced -
Bankruptcies mount with CLOs not on level playing field
3 years ago
Over $2.4 billion of CLO collateral has been caught up in bankruptcies since coronavirus-related volatility began, according to CLO-i. Bankruptcies are not a level playing field for CLOs - and although documention ammendments on what a CLO can or cannot do in a restructuring are not happening yet, sources say talks may arise in the future -
Beneath the triple C: April showers send buckets overboard
3 years ago
Downgrade waves rocked the CLO market in April as Moody's and Standard & Poor's downgraded 135 corporate borrowers to triple C or below, from ratings above that level. The downgrades put CLOs in rough waters as $41.6 billion of such loans are prevalent in US CLOs while €5.64 are moored in European CLO portfolios – affecting 5.92% of the US market and 4.37% of the European market -
Direct lenders look to source deal flow through government-backed loans
4 years ago
Direct lenders have been looking to tap into government backed loans as a way of sourcing deals, either via partnering with banks or being an accredited lender -
Fair Oaks suspends dividends from listed CLO fund citing covid-19 uncertainty
4 years ago
Fair Oaks Capital has suspended dividends on its listed CLO fund “in light of the ongoing uncertainty in economies and markets caused by covid-19 pandemic”, according to an update to investors in the $315 million fund -
Wind blows against UK credits after Brexit day bluster
4 years ago
After all the Friday fanfare of the UK’s exit from the European Union, Brexit-exposed credits are quietly heading wider at the start of this week, against the general tightening trend -
European financials outperform corporates as coronavirus spreads
4 years ago
Financial CDS is outperforming corporate credit today, and Europe outperforming the US, as the market jumps wider on rising alarm at the spread of China’s novel coronavirus -
Euro trading: Vue proves to be leading light for CLOs, but liquid bonds play crucial support role
4 years ago
Vue International's newly issued loan starred in 25 CLO managers' portfolios, which bought €239.4 million of the loan in June and made it a box office hit among CLO managers, according to CLO-i. -
Global CLO league tables at a glance - September 2018
5 years ago
A snapshot of the overall league tables as of 30 September -
Pricing balance between 'floored' and 'unfloored' CLO tranches shifts as two deals price
5 years ago
The use of ‘unfloored’ mezzanine tranches in European CLOs is becoming more widespread with Barings and KKR Credit each pricing deals incorporating such features on Friday -
ICG reissues three European CLOs still bound by call locks in risk retention move
5 years ago
Intermediate Capital Group has shifted its CLO risk retention strategy to an originator structure by reissuing three of its deals -
Price talk circulates on forthcoming Spire CLO
6 years ago
The manager is planning to launch its fourth CLO later this week via Citi -
European CLO manager reaches 100% refi/reset record
6 years ago
A London-based credit firm teamed up with BAML to price a reset of a 2015 European CLO yesterday
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