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Anchorage resets 2015 vintage CLO once more
1 month ago
Anchorage Capital reset a much-revisited CLO from 2015 last week in a short-dated deal. -
Sixth Street refinances 2017 vintage US CLO
1 month ago
Sixth Street has priced a partial refi of TICP CLO VII, a 2017 vintage US BSL CLO that was reset in 2020 -
European CLO primary spreads still have a long way to go
3 months ago
Are European CLO spreads in the primary market cheap or expensive? Our latest research shows that while US managers can celebrate AAAs reaching the 150s, in Europe spreads still have a long way to go to reach historical norms. -
Beneath the triple C: Life could be better, but it’s just a letter, under the CCC
1 year ago
Many market participants were eagerly looking forward to a break in December after a gruelling year, but the rating agencies were in no mood to oblige. -
Euro CLO league tables: Jefferies wins at a canter as fellow newcomer Palmer Square wins in new issues
1 year ago
A year of turmoil in the CLO market inevitably led to European CLO issuance dropping in 2022 from its record 2021 -
Euro CLO league tables: Final whistle beckons in close manager race as Jefferies looks to park the bus
1 year ago
Last month, just shy of €3 billion of European CLO paper was priced in the primary market, the most since March and Russia’s war with Ukraine -
Euro CLO league tables: Barings €20 million behind PGIM in overall issuance as Jefferies extends lead
1 year ago
The European CLO manager base reaches 41 as six new issues priced for a total of €1.9 billion -
US managers recalibrate as Euro CLO portfolio spreads rise: Moody's
1 year ago
CLO managers have had to readjust this year and data from Moody’s Investor Services shows weighted average rating factor scores for all US CLOs have held steady, while weighted average spreads have dropped 0.15% -
Euro CLO league tables: elements combine to give Redding Ridge new issuance lead
1 year ago
Do you remember, the 16th night of September? What a time to be a European CLO manager... -
Euro CLO league tables: Goldman Sachs, Fidelity and Tikehau enter fray as Jefferies extends lead
1 year ago
Four European CLO managers braved the market in August to price a new issues, the same number as August 2021 -
Euro CLO league tables: gear shift brings flurry of new issues before summer break
1 year ago
After a slow June, the European market picked up its pace in July with managers eager to price deals before the summer lull -
Euro CLO league tables: Permira and Barclays Providus with sole new issue
1 year ago
Just one manager priced a European CLO priced in June, when Permira Credit and Barclays brought Providus VII to market -
Sound Point breaks one month European CLO market silence as pipeline builds
1 year ago
After the longest pause in the European CLO primary market since December 2018, Sound Point has broken the silence with a static new issue while other managers are exploring static and print and sprints to get deals done -
Euro CLO league tables: short on deals but high on drama as new issuance race tightens up
1 year ago
For the second straight month, European CLO volume was below €2 billion, making it the first time there has been back-to-back months of less than €2 billion issued since November and December 2020 -
Blackstone revives Stratus brand as it prices opportunistic US CLO
1 year ago
Blackstone Credit is once again capitalising on dislocation in the credit market having priced a $393.6 million new US CLO on Monday under its Stratus brand. The CLO is understood to follow a print and sprint method, and analysis of the profile suggests that the deal could benefit from $20 million of upside if assets rally to par -
Euro CLO league tables: PGIM and Jefferies lead as Euribor caps come back in fashion
1 year ago
April was the quietest month of the year in the European CLO market with only €2 billion pricing across four new issues and one reset -
Euro CLO seniors firm up, but mezz widens as Jefferies prints Spire new issue and CSAM reset
2 years ago
Jefferies has expanded its European CLO arranging lead as senior spreads remain in line with recent deals, mezz appears to have leaked slightly wider and deals continue to feature capped tranches -
CSAM launches reset of 2020 European CLO
2 years ago
Credit Suisse Asset Management has launched a rare reset in the CLO market, reworking its 2020 European deal named Madison Park Euro CLO XV -
CLO prices drop under weight of massive secondary volumes while CDS rallies
2 years ago
CLO spreads have underperformed versus liquid credit instruments in the past week after a massive $2.3 billion of paper hit the secondary US CLO market. But that could create opportunities for investors. -
Three new deals bring weekly US CLO reset volume to $3.9 billion
2 years ago
Three US CLO resets priced on Thursday, bringing weekly reset volume for the week to $3.9 billion across eight transactions -
Global CLO trading lab: Seasoned equity prices lag as debt spreads level out
2 years ago
The CLO secondary market took a back seat to the surging primary market in August and September with secondary US CLO volume accounting for just 3.7% and 4.2% of the total US CLO market (primary and secondary volumes). But opportunities are there in CLO equity tranches -
European CLO weekly volume passes €4 billion as HPS resets former Bardin Hill deal
2 years ago
European CLO weekly volume rose to over €4 billion on Friday, with HPS Investment Partners rounding off the week -
What summer slowdown? Carlyle, Hayfin and Investcorp add €1.2 billion Euro CLO issuance
2 years ago
Europe’s CLO market has shown no sign of a summer slowdown in the first week of August as Hayfin and Investcorp rework 2020 deals and Carlyle refis -
AGL and Blackstone reset and upsize post-covid CLOs from 2020
2 years ago
AGL Credit Management and Blackstone Credit added to their respective 2020 CLO reset sprees on Monday, with both managers upsizing their post-covid deals -
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
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