Europe adapts to harsher CLO climate
The European CLO market survived the financial crisis and ensuing risk retention obligations. Conditions remain tough, but we expect a 25% increase in the number of active managers

Dwindling refi viability forces revision of CLO forecasts
A combination of a flatter term curve and squeezed arbitrage is causing market participants to adjust their CLO forecasts on both sides of the Atlantic

ESMA regulations could halt European issuance, says LMA
The European securitisation market is at risk of a “cessation of issuance and market disruption” unless the European Securities and Markets Authority (ESMA) allows a phased implementation of the new regulatory framework due to come into effect from January, according to the Loan Market Association (LMA)

Buy and hold isn’t only option for CLO equity
New US CLO equity is being more regularly flipped into b-wics. Figures suggest that equity pieces of 2017 and 2018 US deals made up 22% of the b-wic market over the past four quarters

Widening whisks market back to 2017
Right now, CLO volumes are healthy and the list of active managers is steadily growing. But with CLO liability spreads reverting to where they were a year ago, some issuers are a little nervous.

Kartesia invests in equity of 2018 European CLO
Kartesia has invested in the equity of KKR’s latest European CLO 

JP Morgan hires former Apollo official to its European CLO team
An experienced structured credit official, who had recently been concentrating on SRTs, is seto to join JP Morgan's European CLO team

First European SME CLO 2.0 edges closer after warehouse tweaks
Be-Spoke Capital’s European SME CLO is nearing the finishing line, with sources indicating NatWest Markets aims to price the deal, Alhambra SME Funding 2018-1, in early December. The development comes after the CLO exceeded the warehouse’s 12-month ramp-up period

Och-Ziff pairs with Credit Suisse on new €412 million European CLO
Och Ziff has priced a €412 million CLO via Credit Suisse, its second new issue European deal of the year and its 12^th transaction overall in 2018, according to market sources

Dechert boosts CLO capabilities as partner joins its London office
Dechert has strengthened its CLO practice in London with Cameron Mitcham joining from Allen & Overy, according to an announcement today

Ares ups its target for US senior direct lending growth to $4.7 billion
Following $5 billion of inflows into global direct lending in the third quarter, Ares has upped the target for its US direct lending strategy 

Buy and hold isn't only option for CLO equity
New US CLO equity is being more regularly flipped into b-wics. Figures suggest that equity pieces of 2017 and 2018 US deals made up 22% of the b-wic market over the past four quarters

CVC prices €409.6 million new issue CLO via BNP Paribas
CVC Credit Partners is back in the primary CLO market today

GSO turns 20 following €410.25 million CLO reset
GSO priced its 20th CLO transaction of the year yesterday, teaming up with Deutsche Bank to reset Griffith Park CLO

BlackRock prices €411.25 million CLO via Barclays
BlackRock priced its third new issue European CLO yesterday in a €411.25 million transaction arranged by Barclays

Permira markets second new issue since bringing ESG criteria to CLO docs
Permira Debt Managers is back in the market with its second 2.0 CLO named Providus CLO II, which could price as early as next week

Ellington hires London-based loan PM to build European CLO platform
The US-headquartered manager has hired a London-based portfolio manager specialising in European corporate credit with a view to building a European CLO platform, according to a person familiar with the matter

Alcentra issues new European CLO via Morgan Stanley
Alcentra has become the seventh CLO manager to price a new issue deal in Europe this month following a €411.1 million deal arranged by Morgan Stanley

Rockford Tower fortifies global CLO business with first European deal
Rockford Tower Capital Management has expanded its global reach by pricing its inaugural European CLO

Five Arrows CLO points to triple A spreads settling back inside 100bp
Triple A spread widening for European CLOs has stalled as Five Arrows prices a new issue deal

CVC markets new issue CLO via BNP Paribas
Europe’s CLO pipeline continues to add more names, with CVC Credit Partners the latest to target a new issue transaction on the continent in coming weeks

Investcorp becomes fourth manager to reap €2 billion of CLO issuance in Europe
Investcorp Credit Management became the fourth European CLO manager this year to pass €2 billion in volumes on Friday, after launching a €410.4 million new issue deal

Carlyle prices 4.5 year CLO reset
Carlyle Group priced its 22nd CLO transaction of the year today

Blackstone grows credit assets by 31% over year
The firm achieved strong fundraising in credit, taking credit-related assets under managment to $130.6 billion in the third quarter, a 31% increase year-on-year 

LSTA asks for return of CLO bond buckets as part of Volcker reform
The Loan Syndication and Trading Association is advocating the return of high yield bond baskets within US CLO portfolios in what could be another sign of the shackles being loosened on CLO regulation in the US