Bain resets second mid-market CLO a second time
The deal renewed the 2019-vintage transaction on a short-dated 1Y/2Y schedule

Dechert lifts four-person CLO lawyer team from Orrick
The law firm tapped Sushila Nayak to serve as leader of the London-based CLO effort

Partners prices its first new European CLO of 2025
The deal is among the first impacted by a new interpretation for EU risk retention

Invesco slightly narrows triple A spreads with single-tranche Euro refi
The transaction repriced EUR 183m of triple A paper for the 2020-vintage CLO

Apollo stuns market with end-of-week Euro triple-header
The US-based asset manager priced three European CLOs on Friday, together valued at over EUR 1.28bn

CIFC refinances 2013-vintage US CLO
The BSL deal was previously reissued in 2018

Brigade and Palmer Square price US CLO resets with equity upsizings
The 2021-vintage BSL deals were both arranged by Morgan Stanley  

CarVal refinances 2019 vintage CLO second time
CarVal Investors has printed a second refinancing of what was its second-ever CLO: the 2019 vintage Carval CLO II

HSBC makes a splash with first lead-arranger credit
HSBC has teamed up with CVC Credit Partners to print a EUR 102.5m partial refinancing of a 2022 vintage CLO in the bank's first lead arranger credit in many years

CIFC resets 2021 vintage CLO
CIFC Asset Management on Friday reset one of its US BSL CLOs that priced at the start of 2021

State of the US Loan Market 3Q23 - Xtract Special Report
The US leveraged loan market continued to languish in 3Q23, but the average covenant score for large Sponsor loans bounced back somewhat from its precipitous decline in 2Q23 according to this special report

Packers’ recovery chances debated amid industry-wide child labor investigations
A popular CLO credit, Packers Sanitation Services (PSSI), made the news last week in Debtwire

Pinebridge prices new US CLO
Pinebridge Investments priced a new US CLO on Friday in a USD 404.7m transaction arranged by Barclays

PGIM's latest CLO is tightest regular new issue of 2023
PGIM priced a new vanilla US CLO named Dryden 102 on Friday with the tightest capital structure of the year

LP round up: opportunistic credit dominates as investors allocate $2.2 billion
US institutional investors invested at least $2.2 billion to credit funds in March, according to documents seen by Creditflux, with opportunistic credit funds dominating commitments

Cross Ocean targets next week pricing for European CLO via Deutsche Bank
The CLO’s triple As are 0.8 times covered at 180 to 185 basis points, the latest marketing blast reveals

Beneath the triple C: Life could be better, but it’s just a letter, under the CCC
Many market participants were eagerly looking forward to a break in December after a gruelling year, but the rating agencies were in no mood to oblige. 

CLO rankings: manager AUM, advisory firm and trustees Q4 2022
As 2022 draws to a close manager consolidation through mergers and acquisitions have been balanced out by new market entrants to leave roughly the same number of managers that entered the year, at least for now.

Powell outlook brings risk buyers out in droves, but reality check looks soon to follow
Comments by US Federal Reserve chairman Jerome Powell on Wednesday on the pace of future rate hikes have prompted a sharp rally across global financial markets, including credit. But dissenting voices have already begun to point out the enthusiasm is likely overdone

European CLO managers trade loans to avoid (par) burn
Between March and July, European CLO managers traded €21 billion of assets within CLOs that were still in their reinvestment period as opportunities arose amid a weaker macro environment and Russia’s war with Ukraine

CVC issues print-and-sprint Euro CLO as Goldman marks comeback
Goldman Sachs returned to European CLO arranging duties last week as CVC Credit Partners priced a print-and-sprint deal

Relief rally extends despite US and EU sending mixed signals on recession
Growth and inflation data on Friday has added impetus for the European Central Bank to maintain a hawkish stance at its September meeting, despite US signals suggesting that economy is in recession

Blackstone prints Euro CLO triple As at tight 170bp
Blackstone priced its latest European CLO yesterday with triple As pricing at least 50bp tighter than current market levels

Mixed signals abound but European weakness persists
European financial markets are losing further ground against the US in a cautious start to the week, as the euro approaches parity with the dollar for the first time and latest data supports the Federal Reserve maintaining a hawkish approach to policy

Beneath the triple C: ebbs and flows leave triple C levels at a temporary stasis
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.