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Sound Point prices second new CLO of 2024
1 day ago
Sound Point Capital Management, working with Barclays as arranger, priced its second new US BSL CLO of the year on Monday -
Apogem prices middle market reset
2 months ago
Apogem Capital returned to the primary market this week for the first time in 12 months, with a reset of a 2019-vintage CLO -
Tightest European new issue CLO this year prices
2 months ago
European new issue spreads for 2024 nudged down to a new benchmark on Tuesday, with the triple-As hitting 147bps -
Barclays prices new European CLO for Trinitas
8 months ago
Trinitas Capital Management priced a new European CLO on Wednesday in a €351.3 million deal arranged by Barclays -
CLO market thaws as Onex prices
10 months ago
The CLO market seems to be back in business as Onex priced their third deal of the year, following on from yesterday's Bain CLO. -
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 -
Credit off to stronger start as dollar longs get squeezed
1 year ago
Financial markets are off to a better start this week, with risk assets repairing some of their recent damage as the US dollar eases back from the highs it has hit against other currencies -
Cairn CLO becomes 30th 2020 Euro CLO to be reset
2 years ago
Bank of America arranged the €373 million transaction for Cairn, which cuts the CLO’s cost of debt by over 40 basis points -
Maranon prints first new issue of year with Wells Fargo
2 years ago
Maranon Capital on Monday evening priced its first new issue CLO of the year, via Wells Fargo -
Voya shaves 28bp with refi of 2019 CLO
2 years ago
Voya Alternative Asset Management priced a refinancing of Voya 2019-3 via GreensLedge on Friday and reduced the CLO’s cost of debt by 28.3 basis points -
Jefferies brings two CLOs to market and takes US CLO arranging total past $20 billion
2 years ago
Jefferies has brought two CLOs to market to take its arranging total past $20 billion -
Ares and Wellfleet partially refi legacy CLOs
2 years ago
Ares Management and Wellfleet Credit Partners partially refinanced a legacy CLO each Wednesday night via Goldman Sachs and Citi, respectively -
Guggenheim splits double Bs and merges triple As in US CLO refi
2 years ago
Guggenheim Investments refinanced Guggenheim 2019-1 on Tuesday night via MUFG and opted to split its double B-rated D tranche in doing so -
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 -
Two west coast managers bring first new CLOs of 2021 via Morgan Stanley
2 years ago
Two California-based CLO issued their first new CLOs of the year on Thursday with Morgan Stanley arranging both transactions -
Neuberger Berman issues new US CLO as its 2021 volume spikes to $2.9 billion
3 years ago
Neuberger Berman has finalised its sixth US CLO transaction of the year. Bank of America arranged the $410 million new issue named Neuberger Berman Loan Advisers CLO 41 -
It's all relative: CLOs march tighter as macro traders open positive CDS skews
3 years ago
Credit default swaps are back near where they started the year after giving up their early-February gains amid a rise in government bonds. CDS curves steepened over the past month and macro hedging has left indices trading with positive skews. But CLOs paint a calmer picture in which spreads have inched tighter -
US private credit Q3 default rate halves to 4.2%: Proskauer
3 years ago
US private credit default rates fell in the third quarter to 4.2%, half of the 8.1% recorded in Q2, according to law firm Proskauer’ Private Credit Default Index -
Octagon prices $496.85 million new CLO as market stabalises
3 years ago
Octagon Credit Investors today priced the second largest CLO of the pandemic era via Wells Fargo -
Beneath the triple C: April showers send buckets overboard
4 years ago
Downgrade waves rocked the CLO market in April as Moody's and Standard & Poor's downgraded 135 corporate borrowers to triple C or below, from ratings above that level. The downgrades put CLOs in rough waters as $41.6 billion of such loans are prevalent in US CLOs while €5.64 are moored in European CLO portfolios – affecting 5.92% of the US market and 4.37% of the European market -
Global CLO b-wic round-up: spreads tighten across the board as bond-flex CLOs trade well
4 years ago
Price levels have tightened and, more importantly, stabilised across the secondary CLO market over the last two weeks, but the Easter break led to a drop off in CLO b-wic supply -
Global CLO b-wic round-up: $8 billion of US CLOs listed in record-breaking March
4 years ago
Last week brought an end to the busiest month in both the US and European CLO secondary markets since at least 2014. $7.7 billion of US CLO paper was on sale in March with a further €1.8 billion of European CLO bonds available, bringing the total listed in Q1 to $13.9 billion and €3.6 billion -
Global CLO b-wic round-up: CLO triple As recover but mezz left behind
4 years ago
The CLO secondary market was a tale of two halves last week. 100% of all bonds listed in b-wics on Monday and Tuesday had no covers released (either traded or did not trade), but the end of the week was a different story for both markets -
Ellington goes for two-year reinvestment period as it prices CLO
5 years ago
Ellington Management priced a $478.5 million CLO via Barclays on Friday, continuing its strategy of selecting portfolios with high tolerance of triple C-rated loans -
2018 US CLO manager list reaches 92 after TIAA prices $458 million deal
5 years ago
TIAA has become the 92nd manager to issue a new US CLO (backed by broadly syndicated loans) in 2018 after pricing TIAA CLO IV yesterday via Citi
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