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Former Kayne Anderson team prints first CLO since spinout
2 years ago
The former CLO team from Kayne Anderson has issued its first CLO since spinning out to form Irradiant Partners earlier this year -
PGIM upsizes late 2020 CLO by over $50 million
2 years ago
PGIM has teamed up with BNP Paribas to reset its September 2020 CLO named Dryden 85, upsizing the deal by $51.6 million in the process -
Mid market CLO league tables: No change up top but KKR and Silver Point enter race
2 years ago
The mid market CLO space welcomed two new faces to its ranks last month as Silver Point Capital and KKR priced a new issue CLO each -
Mid market CLO league tables: stalwarts Golub and Natixis reign supreme again
2 years ago
It may have taken seven months, but the mid market CLO league tables have familiar faces at the top with Golub Capital and Natixis leading the way in manager and arranger issuance, respectively -
Oak Hill upsizes 2016 CLO by $53.9 million
2 years ago
Oak Hill Advisers paired with GreensLedge on Friday to reset a 2016 CLO, OHA Credit Partners XIII -
Zais prices wide of the market with reset of post-covid CLO
2 years ago
Zais Group on Thursday became the 30th manager to reset a post-covid CLO, teaming up with Jefferies to rework Zais CLO 15 from June 2020 and renewing the deal's reinvestment period for three years -
Niagara falls: CLO spreads come down in Blackstone refi to highlight 2019 v 2021 basis
2 years ago
Blackstone Credit has refinanced one of its 2019 US CLOs. The CLO, Niagara Park CLO, has three years of reinvestment remaining and while the seniors priced inside the five-year Point Au Roche (100bp to 108bp), mezzanine tranches were wider despite the refi's shorter tenor. -
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 -
AB cuts 2019 CLO's funding costs by 42.5bp with refi
2 years ago
AB has refinanced its 2019 middle market CLO named ABPCI Direct Lending Fund V via Natixis, lowering the deal's cost of debt by 42.5 basis points -
Global CLO trading lab: secondary volumes inflate and easily get absorbed
3 years ago
Weekly secondary CLO volume has been lower across the capital structure in recent weeks as 2021’s refinancing wave left investors with plenty of choice -
Euro CLO mezz spreads leak wider but seniors hold firm as ICG resets
3 years ago
European CLO mezzanine reset spreads have widened out slightly this week, highlighted by Intermediate Capital Group’s reset of St Pauls CLO VI via JP Morgan -
Global CLO b-wic round-up: 2020 deals trade at premium
3 years ago
As the primary CLO market continues to grind tighter, the secondary market is holding steady, but last year's vintages are trading well as they near the end of their call-locks -
It's all relative: CLO spreads explore record tights as credit indices hit impasse
3 years ago
CLO spreads are grinding to ever tighter levels, despite a flattish week for credit in which corporate credit indices have ended up more or less unchanged -
Global CLO round-up: fresh start for five year deals as market reopens
3 years ago
The CLO market is still producing deals at a good pace, with $2.6 billion of global issuance last week. Four new issue deals priced in the US with Intermediate Capital Group and NYL Investors pricing their first transactions of the year while CVC Credit Partners made it two and Barings three in 2020 -
Redding Ridge prints third European CLO since March sell-off
3 years ago
Redding Ridge Asset Management has priced its latest European CLO named RRE 5 -
Allstate prices tightest new CLO post-covid
3 years ago
Allstate Investment Management Company has priced the tightest new issue US CLO since the covid-19 led sell off. The manager teamed up with JP Morgan to price the $448.55 million AIMCO 11, which has weighted funding costs of 183.9 basis points -
Global CLO b-wic round-up: US CLO triple As finally rally while European investors go ‘all in’
3 years ago
A huge supply of $731 million of US CLO triple A bonds pushed US CLO secondary volumes to just shy of $1.5 billion last week -
Beneath the triple C: downgrades hold steady as Travelport loses its luggage
3 years ago
For the second month in a row downgrades to triple C steadied, with just under $9 billion of CLO loans falling to this rating across 34 corporate borrowers -
CLO double Bs on sale as sub-investment grade rally fizzles out
3 years ago
After more than a month of rapid tightening, CLO double Bs trended wider last week by roughly 60 basis points, as the market for these sub-investment grade tranches stabilises in the mid-800s -
Euro CLO league tables: fresh faces emerge with new deals
3 years ago
May was a month of fresh faces as three new managers entered the ring for the first time in 2020 -
Euro CLO league tables: You wait all month for a pricing and then three come along at once
4 years ago
Two CLO managers chose April to price their first CLOs of the year. Three European CLOs priced last month as the primary market opened following a coronavirus-enforced closure in mid-March -
Who’s got the moves Europe: CLO managers enjoy climb of Everest
4 years ago
The European S&P/LSTA Leveraged Loan index enjoyed a strong month in April as it rose from 83 of par on 1 April to 89.2 by the end of the month. The index closed at 89.4 on 4 May to start the week -
European CLO market gets going in a hurry with Redding Ridge three-year deal
4 years ago
The European primary CLO market has gone from being shut for a month to pricing two deals within hours of each other and developing a term curve that is very much in its infancy -
KKR goes for three years of reinvestment to capitalise on steep CLO term curve
4 years ago
KKR Credit has priced the first three-year CLO of 2020 as the manager looks to capitalise on a steeper term curve -
Medalist makes CLO breakthrough with $305.9 million new issue
4 years ago
Medalist Partners Corporate Finance has priced its first CLO since rebranding from JMP Credit Advisors, according to market sources
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