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BlackRock prints first MM CLO in over a month
1 year ago
BlackRock broke the middle market CLO silence on Thursday by pricing its latest deal, named BlackRock Maroon Bells CLO XI -
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. -
CLO 2022 Outlook: 2021 is hard act to follow, but CLO buyers have positives aplenty
2 years ago
New CLO issuance in 2022 will remain elevated but below 2021’s record numbers, banks agree. But there is no consensus among strategy desks on the volume of repricings to come, partly due to the unknown impact of the Sofr transition. -
Sculptor moulds unusual debt/equity hybrid tranche into new US CLO
2 years ago
Sculptor has issued a CLO with a senior equity tranche, which pays a recurring coupon -
Trimaran goes long with five-year US CLO as it splits triple Bs
2 years ago
Trimaran Advisors has priced its second new CLO of 2021, and first with a full five-year reinvestment period. -
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 -
BlackRock and Oaktree reset and upsize legacy CLOs
2 years ago
BlackRock and Oaktree Capital Management have reset legacy CLO deals with both managers opting for an upsize -
Unusual double As jump tighter as BMO keeps it in-house again with CLO refi
2 years ago
BMO has refinanced a CLO for BMO that resulted in junior double As moving much tighter relative to senior double As -
BlueMountain US CLO reset splits triple B piece
3 years ago
Assured Investment Management has reset a 2019 vintage CLO, tightening the top tranches. The reset also split the triple Bs into two pieces. -
Oak Hill injects $28.5 million equity and splits triple Bs in US reset
3 years ago
Oak Hill Partners has injected an $28.5 million of equity in its reset of OHA Credit Partners X-R -
Credit manager prices second tech-focused CLO after 2.5-year break
3 years ago
Vista Credit Opportunities has priced its second ever CLO backed by loans to middle market companies in the technology sector -
First Eagle prices one-year mid market CLO
3 years ago
First Eagle has priced its latest CLO backed by middle market loans -
PGIM gives $150 million upsize to CLO that priced last month
3 years ago
PGIM has completed a rare feat by upsizing a US CLO in the window between its pricing date and closing date -
Global CLO b-wic round-up: US triple Bs edge wider but 2020 bonds trade at a premium
3 years ago
The furious rally that the secondary CLO markets have gone through over the last two weeks was brought a halt by the Federal Reserve’s reminder on Wednesday night that all is still not well with the economy -
Zais returns to CLO primary market with one-year deal
3 years ago
Zais Group has made its CLO primary market return, teaming up with RBC to price a 1.12-year reinvestment deal via RBC -
US CLO spreads set to tighten across the stack as CIFC targets 170bp triple A print
3 years ago
CIFC Asset Management is marketing its first new issue CLO of 2020 with price talk for the triple A notes pointing to a print of around 170 basis points - a new market tight since the coronavirus pandemic began -
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 -
Redding Ridge and Natixis reunite for second new CLO in a month
4 years ago
Redding Ridge Asset Management, the CLO manager affiliated with Apollo Global Management, has priced its second CLO of the month, becoming the fist manager to issue two new transactions following the coronavirus selloff in March -
OC health check: another two CLOs fail senior OC tests
4 years ago
Two senior overcollateralisation test failures number among 26 deals joining the list this week of CLOs breaching their OC tests in April, according to the latest trustee reports on CLO-i. -
Who's got the moves US: Carlyle leads as $3.7 billion of CLO loans recover
4 years ago
CLOs were exposed to $833.4 million worth of paper in the 10 term loans that suffered the largest price falls last week. But CLOs also had exposure to $3.67 billion of loans that recovered the most over the seven days. -
Mid market deal flow picks up as Antares prices $400 million CLO
4 years ago
Middle market CLO formation has picked up with Antares Capital pricing a $400.8 million yesterday to mark the ninth transaction since the start of November -
Churchill splits double Bs for first mid market CLO in two years
4 years ago
Churchill Asset Management has priced its first middle market CLO of the year in a transaction which underlines how lower-rated CLO debt tranches are increasingly being carved up into senior and junior pieces -
PennantPark makes CLO market debut amid fundraising spree
4 years ago
PennantPark Investment Advisers, a New York-headquartered direct lending firm, yesterday priced its first ever CLO, becoming the US market’s eighth debut manager of 2019 -
Bain scores tight print as it prices second middle market CLO
4 years ago
Bain Capital has priced its second CLO backed by loans to middle market companies named BCC Middle Market CLO 2019-1 -
US CLO round-up: summer blues don’t weigh on the issuance parade
4 years ago
Summer is shining on US CLOs as $3.8 billion worth of activity entered the market last week. The flow brought four new deals (including one middle market deal), one reset and two refinancings.
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