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Five Arrows prices same-day CLOs in US and Europe for first time
3 years ago
Five Arrows Managers broke new ground on Friday after pricing two CLOs on one day for the first time in its history -
Trading places: it can pay to bet on the little guy
3 years ago
It’s assumed investors know how good a CLO manager is by the rate at which they trade their way through a crisis. But this time fi ve small, nimble managers are outperforming the market -
Redding Ridge and Palmer Square climb to top of US new issue CLO league tables
4 years ago
Redding Ridge Asset Management and Palmer Square Capital Management have climbed to first and second position in the 2020 new issue US CLO league tables after each pricing new deals -
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 -
Beneath the triple C: $31.6 billion of CLO credits feel downgrade pain
4 years ago
March madness took a toll on CLOs as Moody’s and Standard & Poor’s downgraded 4.25% of the portfolios in the US and 1.84% in Europe to triple C or below in just one month (some of these were already triple C rated, only to fall further). -
Partners becomes second manager to price US and European CLOs in 2020
4 years ago
Partners Group priced its fifth US CLO, named Pikes Peak CLO 5, today, becoming just the second manager to issue CLOs in the US and Europe this year -
CSAM repeats tested formula with largest CLO reset of 2020
4 years ago
Credit Suisse Asset Management returned to the CLO market on Friday after teaming with Barclays to price a reset of its 2016 vintage US CLO, Madison Park Funding XXII -
PGIM resets European CLO to cross €2 billion in 2019 issuance
4 years ago
PGIM reset its 2015 European CLO today, Dryden 35, via Goldman Sachs. It takes the PGIM’s 2019 European CLO volumes pass €2 billion -
Global CLO b-wic round-up: Junior mezz covers return while triple A supply drives big week
4 years ago
Narrowing of the bid-ask gap that has plagued junior mezzanine tranches could bring a change of fortunes in the US CLO secondary market -
GSO completes 12th CLO transaction of 2019 as junior spreads edge wider
4 years ago
It has been, by the firm's own standards, a slow year for the largest CLO manager globally, but nevertheless GSO Capital Partners has completed 12 transactions in 2019 -
CVC issues its third 2019 CLO in Europe
4 years ago
CVC Credit Partners joins an exclusive club of managers with its third new European CLO of the year. Like GSO Capital Partners and BlackRock in recent weeks, CVC priced its triple A bonds at 90 basis points -
Golub produces new US CLO with triple As at 135bp
4 years ago
Golub Capital Partner’s CLO issuance shows no signs of slowing as the manager teamed up with Morgan Stanley on Friday to price a new issue named Golub Capital Partners 43(B) -
Global CLO round-up: it's time to rethink benchmarks
4 years ago
The CLO market broke out of holiday mode last week by presenting strong issuance on both sides of the Atlantic - $2.8 billion in the US and €1.6 billion in Europe. High volumes have brought with them bigger shifts in market dynamics. This week put the focus on tightening spreads, as benchmark triple A levels dipped. -
Junior triple A tranches return as GSO prices US CLO
4 years ago
GSO Capital Partners has tapped the CLO market once again with another new issue transaction via Barclays -
PGIM goes all in as it refis 2016 CLO for second time
4 years ago
Having refinanced the junior debt in a US CLO last year, PGIM has refied the entire capital stack of its 2016-vintage CLO -
Kayne Anderson prices new issue CLO as spreads tighten dramatically
4 years ago
Kayne Anderson has priced its fifth CLO overall, and third this year -
Rockford Tower and JP Morgan team to price new CLO
4 years ago
Rockford Tower Capital Management priced its second new issue US CLO this year, Rockford Tower CLO 2019-2, according to market sources -
CIFC becomes first manager to print four new issue US CLOs in 2019
4 years ago
CIFC Asset Management today became the first CLO manager to price four new issues in the US market this year after executing a deal via BNP Paribas -
Euro CLO round-up: benchmark ruffles up, but junior tranches sit tight
4 years ago
CLO triple A benchmark levels underwent a shake-up last week as Credit Suisse Asset Management and HPS Investment Partners brought deals to the market with first-pay tranches printing above the recent benchmark of 108.5 basis points -
US CLO round-up: dropping anchor (investors) brings CLO spreads tighter
4 years ago
Syndication was the theme of the week across the global CLO market last week as managers and arrangers presented deals which were sold to a more diverse group of investors than has been the case for most of this year. -
BlueMountain pushes tighter with fourth CLO of 2019
4 years ago
BlueMountain has issued its third new CLO of the year, its second new CLO in the US and fourth transaction for 2019 overall -
Carlyle places triple As at 134bp in $463.05 million US CLO reset
5 years ago
Carlyle Group has reset a 2015 vintage CLO with the triple A notes printing at 134 basis points over Libor, according to market sources -
Global CLO round-up: 15 months to one month - managers set their own pace
5 years ago
Three new US CLOs priced this week courtesy of; Seix Advisors, via BNP Paribas; Kayne Anderson, via Goldman Sachs; and Steele Creek, via RBC. In Europe, Oaktree Capital Management paired with Barclays to price Arbour CLO VI. -
US CLO round-up: choose your own reinvestment period
5 years ago
Reinvestment periods have played an important role so far this year, with 30.8% of the new issue market opting for terms shorter than four years -
US CLO b-wic round-up: fixed tranches search for secondary value
5 years ago
US CLO b-wics brought a surprise last week as $51.25 million of fixed double A notes became available in the secondary market
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