Euro risk retention becomes must-have feature for US CLOs
For the past four years, risk retention-compliant US CLOs have been viewed as a luxury. But today issuers see a clear advantage to putting skin in the game

CLO arrangers race to place as bid countdown begins
US CLO arrangers are scrambling to print deals as investors across the capital stack place time limits on their bids. In particular, say market sources, some junior debt investors are stipulating their bids are only good for 24 hours

Investors disagree on impact of NAIC’s CLO modelling proposal
A split is forming among insurance-backed CLO investors, with some not concerned by the National Association of Insurance Commissioners’ CLO proposals

Wide spreads lead managers to plump up CLO par subs
Widening CLO spreads are causing rating agencies and investors to push for additional par subordination in CLO tranches, sources say. CLO funding costs have risen above 300 basis points in Europe and above 275bp in the US

Making the grade: CLO managers move into IG bonds
CLO managers have been using the incredible volatility in credit markets this year to add an unfamiliar asset to their portfolios – investment grade bonds

Tikehau adds to triple-A discovery with first European CLO of year
Tikehau Capital on Tuesday night priced its first European CLO transaction of the year, via BNP Paribas

Oxford Lane reveals reinvestment goal as it trades over $200 million in secondary CLOs in Q2
Senior officials at Oxford Lane Capital Corp described the firm's second quarter approach to CLO investing on a Tuesday earnings call, revealing trades of CLO equity and junior debt amounting to $237.8 million

Vida hires well known structured credit official in New York
Vida Capital, which signalled CLO ambitions earlier this year, has bolstered its structured credit team with the appointment of a former Apollo partner and portfolio manager 

US CLO triple As reach 225bp as CIFC prints sixth deal of the year
CIFC Asset Management printed its sixth US new issue of the year yesterday, pairing with Morgan Stanley on the $392.3 million transaction

NAIC accepts "excellent" CLO performance, but is not convinced by manager influence
The National Association of Insurance Commissioners has disclosed that it received eight responses to its CLO proposal with the firm summarising these responses as cautious

Indicative deal structure emerges for debut Centerbridge BSL CLO
A preliminary deal structure has emerged for a forthcoming Centerbridge Partners debut CLO, in the market via Morgan Stanley

CVC issues print-and-sprint Euro CLO as Goldman marks comeback
Goldman Sachs returned to European CLO arranging duties last week as CVC Credit Partners priced a print-and-sprint deal

Atlas feels weight of static CLOs as triple As reach 260bp
The US CLO term curve inversion is becoming more exaggerated after Crescent Capital priced a static CLO with the coupon on the senior notes set 47 basis points (or 22.1%) wide of five-year CLOs

CLO market mood sours amid bitter economic outlook

CSAM prints first European CLO in 12 months
Credit Suisse Asset Management has become the latest manager to navigate through challenging market conditions to price a European CLO

US CLO pipeline: like a (Center)bridge over troubled water
A large asset manager is marketing its first US CLO at a time of volatility in the underlying loan market. Whereas other funds build walls, CLOs build bridges 

Large US manager closes third captive CLO equity fund
The $140 million fund is anticipated to invest in over five of US CLOs

Neuberger Berman upsizes latest CLO offering prior to pricing
Neuberger Berman upsized its new CLO to $566 million before pricing the deal on Thursday

PGIM scores new CLO with five-year reinvestment period
PGIM priced a new $494.3 million CLO on Thursday via Citi named Dryden 104 CLO

Oak Hill prints rare four-year reinvestment US CLO
Oak Hill Advisors priced a rare four-year reinvestment CLO on Thursday, partnering with Citi on the $400 million deal named OHA Credit Funding 13

Alcentra prints European CLO with triple A coupon at 212bp
Alcentra’s Jubilee 2022-XXVI is the fifth European CLO to price in July, taking the month up to €1.89 billion. That is dwarfed by the 11 European CLOs that priced with a combined €4.78 billion in July 2021

Bridgepoint becomes control equity investor in 2021 CLO after secondary trade
Bridgepoint says it bought an additional 30% equity stake in its third European CLO, Bridgepoint CLO 3, meaning the firm has a majority equity interest in the deal at 61%. The price suggests the CLO is performing well 

CLO term curve inversion hits new extreme with Trinitas print and sprint deal
Trinitas Capital Management became the sixth US CLO manager this year to issue a static CLO transaction

Bank's European structured credit syndication head leaves industry
A CLO syndication specialist, who used to be a CLO trader, has left his role as head of structured credit syndicate after 18 months in the job

Allstate prices US CLO with tight coupons as triple As hit 205bp
Allstate Investment Management has priced its second CLO of the year at what appears to be a much tighter level than other five-year US deals