CLO pipeline: LCM switches arranger to complete deal and join issuance surge
Over $3.5 billion of global CLO issuance priced last week and managers in all three CLO markets are taking advantage of tightening spreads across the capital structure after three major covid-19 vaccine breakthroughs and increased confidence since the US presidential election

Global CLO league tables - October 2020 YTD
Global CLO league tables - October 2020 YTD

GSO European CLO adopts 'loss mitigation loan' concept to boost workout flexibility
GSO Capital Partner’s Deer Park CLO has introduced the concept of loss mitigation loans to European CLOs, according to a report by Fitch Ratings today

CLO pipeline: three behemoths prepare for quick-turnaround new issues
CLO managers have printed at a frenetic pace since the start of the quarter with $3.36 billion of issuance across all CLO markets and pricing types

CLO-friendly workout language crosses Atlantic to Europe
European CLO managers are including workout language in new issue deal documentation that gives greater ability to participate in restructurings, according to market sources

Credit fundraising: managers build homes for real estate credit funds
The “largest ever real estate credit fund” was one of the fundraising highlights last month as Blackstone’s Real Estate Debt Strategies IV fund reached $8 billion on its final close

Blackstone raises $8 billion for 'largest real estate debt fund ever'
Blackstone is flush with cash to deploy into commercial real estate properties after finalising fundraising on its latest real estate debt fund, Blackstone Real Estate Debt Strategies IV

Global CLO b-wic round-up: CLO lower mezz tightens while equity investors strive for duration
A large supply of CLO paper flooded the secondary market last week as $1.5 billion of US CLO bonds and €370 million of European CLOs were listed, according to CLO-i

LP round up: private credit drive gains momentum as Calpers backs Pimco
Private credit continues to be viewed as an attractive investment strategy for institutional investors, with four global allocators outlining new buckets, or increases to the asset class

Blackstone reveals CLO originator NAV was understated for four months
Blackstone says the net asset value of class A units in its privately-offered CLO originator were understated between 31 March and 30 June

Euro CLO league tables: Deer Park takes GSO to top and gets Deutsche off the mark
For the second time in as many months a new name sits at the top of the European rankings as GSO Capital Partners takes the throne

Global CLO league tables - August 2020 YTD
Global CLO league tables - August 2020 YTD

GSO prepares inaugural non-traded BDC
GSO Capital Partners, the credit-focused business of the Blackstone Group, is preparing to launch an inaugural non-traded business development company named Blackstone Private Credit Fund

Deutsche Bank upsizes comeback European CLO in €344 million GSO deal
GSO Capital Partners has issued its second CLO in Europe since the coronavirus pandemic outbreak, upsizing the transaction by almost €50 million in the 24 hours before pricing

Deutsche Bank on track for European CLO comeback after nine-month break
Deutsche Bank is set to make a return to the European CLO primary market on Friday with its first transaction in nine months

European direct lending fundraising dropped 77% YoY in Q2
European direct lending fundraising figures plunged in Q2 2020, as the effects of the covid-19 pandemic were felt across the globe

Global CLO b-wic round-up: Palmer Square sets highest cover as double B curve inverts
Palmer Square and MJX set the CLO secondary market trading range, but pickings in Europe were the slimmest they have been in almost five months

CLO pipeline: AGL aims high as it prepares fifth new issue of 2020
US CLO managers are sensing opportunities in the CLO market either via new issue CLOs or by refinancing the fixed-rate tranches in their legacy deals

Global CLO league tables - July 2020 YTD
Global CLO league tables - July 2020 YTD

Cut! Cineworld’s cancelled merger boosts CLO OCs
Investors in Cineworld’s $1.9 billion term loan breathed a sigh of relief in July after the UK cinema chain cancelled its merger with Canadian firm Cineplex, with holders repaid in full, according to market sources

GSO names additional portfolio manager for three listed credit funds
GSO Capital Partners has added Robert Post as a portfolio manager to three listed credit funds, effective 1 August

Covid could trigger 'mega trend' into private debt, says Blackstone's Gray
The coronavirus pandemic could spark a 'mega trend' of investors into alternatives in private credit, Blackstone's president and chief operating officer said on the firm's second quarter earnings call on Thursday

Two large managers prepare CLO funds
Another two managers have joined the plethora of firms launching CLO-focused funds of late including CIFC, Capital Four, DFG, Eagle Point, Neuberger Berman, Octagon, and Tetragon

LP round up: managers keep fundraising hopes high as GSO targets $7.5 billion for mezz offering
Institutional investors allocated $1.6 billion into credit this week, according to documents seen by Creditflux