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Axa refis 2018 vintage US CLO
21 days ago
The start of the week saw Axa Investment Managers price its first deal since October, with a partial refi of its Allegro CLO IX deal -
BMO returns with first US middle market CLO since 2021
1 month ago
BMO Asset Management late last week priced Great Lakes CLO VII, a USD 404.87m middle market CLO -
AGL teams up with two arrangers on new US CLO
1 year ago
AGL Credit Management has worked with two arranging banks on its new $387.65 million CLO named AGL CLO 23 -
Ares markets new $400 million CLO via Nomura
1 year ago
Ares Management is marketing a new CLO via Nomura, with pricing expected next week -
Beneath the triple C: ebbs and flows leave triple C levels at a temporary stasis
1 year ago
Following a rising tide of downgrades in May the loan market stabilised somewhat in June, with seven issuers held by CLOs downgraded to triple C and a counter-swell of five names upgraded to single B. -
Big swing for high yield property co as bears make new push
2 years ago
Credit trading has turned decidedly bearish again as the weekend approaches, with investors bracing for a host of market-impacting developments. This has brought a particularly volatile reversal in performance for one European high yield borrower -
Global CLO league tables - February 2022 YTD
2 years ago
Global CLO league tables - Feb YTD -
Global markets reel as Russia goes to war with Ukraine
2 years ago
Russia’s invasion of Ukraine is sending shockwaves around the region and far beyond, with the military campaign demanding a sharp reassessment of where the spiralling crisis could lead -
Covid fourth wave lockdowns hit credit with travel cos under pressure
2 years ago
A flattish week in credit gave way to a spread widening move on Friday, as investor concern focused on a fourth wave of covid-19 cases in Europe and further signs of Chinese economic slowdown -
BMO AM prints new CLO via own brokerage arm
2 years ago
BMO Asset Management priced its second CLO of the year on Thursday, once again working with its own brokerage arm BMO Capital Markets to print the transaction -
US plays catch up with Europe as spreads reconverge
2 years ago
There has been a slight softening of European credit on Tuesday, even as stocks hold onto their record highs and US credit spreads take their chance to close the gap after recent underperformance -
US CLO pricing lab: expensive legacy deals take priority as two-three year point on term curve tightens
2 years ago
The US CLO market may have gapped out in recent weeks, but expensive 2019 and covid-era CLO refis and resets are still in the money -
US manager returns with first new CLO in over five years as triple As hit 130bp
2 years ago
A US CLO made a return to the US CLO primary market on Friday with its first new issue since March 2015 -
Carlyle and KKR greet US holiday with $830m of CLO refis
2 years ago
Carlyle Group and KKR each refinanced CLOs with the two deals totalling $830.3 million, according to market sources -
US CLO pricing lab: let’s refi like it’s 2017
3 years ago
The new issue US CLO market has been a slow burn over the last two weeks with only six deals being brought to the market amid wider triple A spreads. But the repricing market has been booming with today’s triple A levels still comparatively cheaper than previous vintages exiting their non-call periods -
CLO refi wave continues as CIFC and Oaktree join the fun
3 years ago
CIFC Asset Management and Oaktree Capital Management have become the latest managers to join the CLO refinancing craze, each teaming up with Morgan Stanley to cut the funding costs on 2019-vintage deals -
CLO refi paper worth $1.61 billion hits market
3 years ago
Five managers have printed transactions worth a combined $1.61 billion over the last few days, in a CLO refinancing bonanza -
Italian banks widen sharply as risk-on drive falters
3 years ago
Italian banks are among Wednesday's underperformers as single name credits play catch up with a shift wider in indices, amid signs the recent bull run is petering out -
LCM cuts triple A notes to 98bp with $495 million CLO refi
3 years ago
LCM Asset Management teamed up with Bank of America on Tuesday to refinance three senior debt tranches of a 2017 CLO -
High yield credits play catch up as central banks put brakes on bull run
3 years ago
High yield single names gained attention on Thursday, as financial markets took a breather after three days of improvement to digest UK and China central bank policy signals -
MJX prints first reinvesting CLO of the year
3 years ago
MJX Asset Management has become the first CLO manager to print a reinvesting new issue transaction in 2021, teaming up with Jefferies as lead arranger and Bank of America as co-arranger on the $507.3 million deal, named Venture 41 -
York completes first new issue CLO of 2020
3 years ago
York Capital Managemend priced its first new issue CLO of the year on Friday, teaming up with Goldman Sachs on the $387.6 million deal named York CLO-8 -
Senior bond-flex CLO tranches are 'cheapest bonds within securitised products': BofA
3 years ago
Triple A-rated notes of bond-flex CLOs are 'one of the cheapest bonds within securitised products', according to a new research paper by Bank of America -
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 -
OC health check: CLOs pay $1.3 billion on senior tranches as payment dates come due
3 years ago
Senior debt holders received $1.3 billion of principal from CLOs that breached an overcollateralisation test in July, a month in which the majority of scheduled payment dates fell. Of those deals suffering an OC breach, 190 were due to make a payment to noteholders and 57% were within reinvestment.
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