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Sofr/Libor CLO basis rises to 20bp as Marathon prints double As with alternative benchmark
2 years ago
Bank of America has inked the second Sofr CLO tranche as part of a $429.6 million new issue deal for Marathon Asset Management -
Marathon prints $407.2 million CLO via Citi
3 years ago
Marathon Asset Management teamed up with Citi on Tuesday to print a $407.2 million new issue CLO -
AMMC and Marathon refinance CLOs due to leave reinvestment in April
3 years ago
Another $800 million of CLO refi paper has been absorbed by the market after American Money Management Corporation and Marathon Asset Management cut financing costs for CLOs set to leave reinvestment in April -
OC health check: CLOs wake up when September ends
3 years ago
September showed a slight but clear improvement in CLOs’ over-collateralisation test results as 182 CLOs breached an OC test during the reporting period, compared to 198 in August. -
Marathon prices first new issue CLO of 2020
3 years ago
Marathon Asset Management has completed its first new issue CLO of 2020 -
Four US CLO refis highlight diverging manager strategies
3 years ago
Four US CLO managers - Ares Management, GSO Capital Partners, Marathon Asset Management and Voya Alternative Asset Management - have each refinanced fixed-rate CLO tranches, with the four deals totalling $69 million in paper. But new strategies are beginning to emerge -
OC health check: CLOs heal up with no new breaches among US BSL deals
4 years ago
53 CLOs reported an over-collateralisation (OC) test breach last week, but only two CLOs breached an OC test for the first time, neither of which were US broadly syndicated loan CLOs -
OC health check: slowing of downgrades offers some reprieve for CLOs stuck in breach
4 years ago
89 deals reported overcollateralisation breaches last week, but only seven of these deals were breaching any OC test for the first time, according to the latest reports available on CLO-i -
OC health check: some CLOs cure failures, but quarter of US deals still in breach
4 years ago
117 deals failed over-collateralisation tests in the last week, although only 46 of these were deals reporting breaches for the first time, according to the latest reports available on CLO-i -
OC health check: interest diversion failures foreshadow breaches
4 years ago
14 CLOs reported over-collateralisation test breaches last week, five for the first time, according to the latest trustee reports available on CLO-i. -
Who’s got the moves US: oil and gas leads renaissance for US CLO managers
4 years ago
The US leveraged loan market has held steady over the last two weeks. After rising to just below 87 of par in mid-April, the S&P LSTA US Leveraged Loan index closed at 85.75 to start this week -
OC health check: failures lift above 100 as five more deals breach senior test
4 years ago
Another 116 CLOs have breached their overcollaterisation tests in the last week, according to the latest trustee reports on CLO-i. Out of this, five deals have failed OC tests for all classes – bringing the overall tally of deals that have breached senior OC tests to nine. -
S&P pushes downgrade button on three US CLO tranches
4 years ago
S&P Ratings has downgraded two tranches of Marathon CLO V and one tranche of Mountain View CLO 2013-1 -
Two US CLOs fail senior OC tests
4 years ago
Apex Credit Partners and Marathon Asset Management have become the first CLO managers in the 2.0 era with deals failing their senior overcollateralisation tests, according to latest trustee reports on CLO-i -
CLOs dock $100 million of Pier 1 as it plunges into Chapter 11
4 years ago
CLOs hold just over $100 million debt of Pier 1 Imports, which filed for voluntary Chapter 11 in the US Bankruptcy Court for the Eastern District of Virginia yesterday -
Marathon issues CLO with limitation on B3 loans
4 years ago
Marathon Asset Management’s new $405 million US CLO has a 25% cap on loans rated B3 and below, says a source close to the deal -
CLO pipeline: US takes up baton after European July sprint
5 years ago
The US CLO market is ready to kickstart issuance in August as nine deals have been added to the running pipeline. -
Philadelphia Energy bankruptcy tars nine CLO managers with $241 million exposure
5 years ago
The Philadelphia-headquartered company has entered into bankruptcy protection for a second time, having only emerged from its first filing in August -
Controlling equity stake in 2018 CLO fails to trade in secondary market
5 years ago
Over 90% of an equity tranche from a 2018 Sound Point Capital Management CLO was available on b-wic yesterday but failed to trade -
Marathon and MUFG unite for $503.25 million new issue CLO
5 years ago
Marathon Asset Management has returned to the CLO primary market after nine months with its latest new issue named Marathon CLO XIII -
Seriously, the CLO arb is difficult right now
5 years ago
We know the arbitrage for CLO equity is never perfect, but the arb progressively deteriorated through 2018. Since January, the picture has worsened further after a brief respite in December -
Marathon runs up another new issue CLO in $460 million deal
6 years ago
Marathon Asset Management teamed up with JP Morgan yesterday to price its second new issue CLO of 2018 -
Wide CLO pricing need not be a drag
6 years ago
Established managers can price CLO liabilities at attractive levels, but we find that CLOs saddled with higher financing costs have nevertheless been among the market’s outstanding performers -
CLO round-up: reset triple As price apart on divergent portfolios
6 years ago
CLO spreads have been volatile of late with seemingly no consistency in triple A CLO prints from deal to deal. In a reset-heavy week, BlackRock and Marathon Asset Management were positioned at opposite ends of the spectrum -
Marathon prices $415.8 million CLO reset as liability costs run wider
6 years ago
Marathon Asset Management priced a reset of its 2015 deal Marathon CLO VIII yesterday, with the triple A notes paying a coupon of 125 basis points
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