US CLO portfolio manager set to join fast-growing Redding Ridge
A US CLO portfolio manager is set to join Redding Ridge Asset Management next month, taking the firm's CLO PM roster to three

Siaci €202 million loan to leave CLOs after merger as new debt guided in low 400s
Burrus has outlined price talk on an €850 million loan backing its acquisition and merger with Siaci, a popular CLO credit

Investors proclaim ‘CLO arb is good’
Hold on to your hats: at long last market participants agree that US CLO economics are in favour of equity tranche investors

CLO investors don Euribor caps to hedge rising rates
Euribor-capped tranches have made a comeback in European CLOs, with AIG and PGIM understood to be behind them. Sources say PGIM has been investing in triple A-rated tranches, while AIG has taken on double-A rated tranches

The Last Tranche with Pretium's Goss: airlines are barometer for reopening trade
In this episode of The Last Tranche, Pretium's Roberta Goss and Creditflux's Hugh Minch discuss how the effects of the vaccine rollout and economic reopening are showing in the loan market.

CLO demand to drive loan outperformance over bonds: BNP Paribas
The buying power of CLOs and funds could mean leveraged loans rally further and outpace high yield bonds, says BNP Paribas' credit research team

Update: Kayne to split from CLO and credit opps units
Kayne Anderson is set to spin out its CLO business

Elfa adds to ESG fact sheet range in standardisation drive
The European Leveraged Finance Association (Elfa) will shortly publish sector-specific fact sheets for the transport and healthcare industries, sources say, bringing its total of ESG fact sheets to 12

CLOs bask in 'golden period' as industry approaches $1 trillion market cap
The economic rebound following the reopening US economy has created a 'golden period' for the CLO market, market participants say

CLO PM set to leave PGIM ahead of move to London-based manager
A London-based mid-sized CLO manager has hired an official from PGIM 

BofA and State Street divided over CLO convertibles
A split has emerged in the approach between the two big buyers of triple A-rated CLO tranches that are structured as loans

CME touts forward-looking Sofr term benchmarks
CME Group has begun publishing term benchmarks for the secured overnight interest rate (Sofr) as part of the global push to move away from Libor in financial markets

Beneath the triple C: CLOs benefit as upgrades make for lighter triple C buckets
For the first time since the sell off in March last year, downgrades to triple C have come to a near-standstill

BofA and Citi unveil multi-dealer platform for CLOs and loans
Bank of America and Citi have joined forces with plans for a multi-dealer CLO and loan platform which will cover trading, data and analytics

ESG drive poses little threat to CLO returns or flexibility, says Moody's
Environmental, social and governance investment criteria are not impairing CLOs either in flexibility or performance, Moody's Investors Service has found in a new report

Loan technical and supply glut keeps CLOs in check
CLO asset and liability spreads moved wider in March owing to unprec-edented volumes of issuance, despite investors rotating into floating-rate products amid rising treasury rates

CLO managers eye bonds as short-dated loan universe shrinks
European CLO managers that focus on bonds say they had flexibility in the first quarter as the new issue loan pipeline ramped up

Loan pipeline builds to fuel US CLO production into Q2
US CLO new issuance, already on a high, is set to be spurred on by a healthy loan pipeline over the second quarter of 2021

Sofr fix nears launch as CLOs face term rate void
Three months into 2021, grounds for optimism have grown little that a term rate will be found before the end of the year to replace Libor in loans, CLOs, CDS and other contracts. But hopes are rising that solutions such as credit spread adjustments could help mitigate performance uncertainty

CLO investors still hungry for triple As and double Bs, says JP Morgan
Most CLO investors are looking to add risk through deals in the months ahead, with very few inclined to reduce exposure, a JP Morgan survey has found - despite the historic flood of issuance in the first quarter of this year

BlackRock shaves top but widens rest of stack with Euro CLO reset
BlackRock has reset a 2016 vintage CLO, pricing the triple A tranche inside the average for new issue European deals but widening lower rated tranches from where they refinanced in 2019

Sterling-heavy loan b-wic points to PGIM CLO
A £233 million-equivalent portfolio of bids wanted in competition (B-wic) on loans, comprising £177 million worth of sterling paper and €65 million of euro paper, is almost identical to collateral of PGIM’s Dryden 63 GBP CLO 2018

European CLO and loan spreads jostle in tight race
New issue CLO spreads have tightened so sharply in Europe that market participants are questioning how long the process can continue. 

Barings sells €377m portfolio via b-wic to wind down European CLO
Barings was the seller of a mammoth €377 million loan b-wic on Thursday (12 February), Debtwire has reported

The Last Tranche with Sound Point's Ketchum: CLOs have fortress-like structures
Creditflux's Hugh Minch and Sound Point's Stephen Ketchum discuss the macro picture for US credit and who should be on the lookout for inflation