CLO equity trades, but deal language could complicate a call
A majority stake in a 2007 US CLO's equity trades in the secondary market although calling the deal may not prove entirely straightforward

Sovereigns reverse tighter on ECB bond-buying rumours
European sovereigns headed wider again today with a continuation of yesterday’s credit risk aversion impacting trading volumes, but spreads and bond yields have since reversed.

Controlling equity stake goes on the block as CDO secondary picks up
Business picks up today in the CDO secondary market as eight bid lists circulate with 61 bonds going under the hammer

Citi looks to buy-up a 2005 synthetic CLO
Citi has announced that it is in the market to buy notes from a 2005 synthetic CLO

KKR CLO gets upsized by $200 million, three months after closing
KKR Financial CLO 2011-1 will now total $600 million

Citi prices refinanced CLO for Babson
Citi has today priced a $512 million CLO for Babson Capital Management

US outperforms Europe amid Italy and jobs data talk
The strong outperformance of US credit over Europe is continuing today, with sovereign concerns again sending European credit spreads wider

Babson CLO close to pricing as S&P issues presale report
Babson Capital Management is close to completing a $511 million CLO

Lower b-wic bids point to softening secondary CLO market
One of the few bid lists this week suggests that the secondary CLO market continues to be somewhat soft.

Fears of ‘death spiral’ put cap on coco issuance
The so-called hedging death spiral for contingent convertible bonds will restrict issuance of the regulatory capital securities to $300 billion

Market reels after Portugal is cut to junk
Portugal’s credit default swap spread has surged wider by 95bp today after Moody’s cut  the country to junk

New York-based firm set to liquidate structured finance CDOs
A New York-based firm will liquidate 2007 structured finance CDO Tazlina Funding II on 14 July

Traders bid up equity as CLO secondary market winds down
The secondary CLO market wound down yesterday with only a handful of CLOs being circulated on bid lists, and no auctions scheduled for today

Manager sets date for first CLO since 2007
An arranger has begun marketing the debt tranches of the forthcoming CLO for a New York-based manager

Sharp widening continues as US economic worries take focus
The muted relief yesterday that greeted Greece’s vote of confidence quickly gave way to another round of selling and today increasing worries about the US economy are adding to the negative ton

CFlux mezzanine indices bounce back as b-wic count falls
The after effects of the Maiden Lane auction of asset-backed securities is being clearly felt in the secondary CLO market

Bank targets its first CLO of the year as pipeline grows
The primary CLO market is gearing up for a busy end of the month with another CLO targeting a pricing in two weeks time.

Bank boosts EM build-up with hire of global credit trading head
A bank's recently departing global head of emerging markets credit trading is to join another firm's rapid build up. 

Greece surges wider even as CDS trigger debate continues
Greece credit default swaps have surged wider again today, with today’s European finance meeting locked in stalemate over how to resolve the country’s debt crisis

Bank looking to price its first CLO of the year
It looks like being a blockbuster month for CLO issuance as yet another deal looks close to pricing.

Largest CLO this year set to price at end of the month
CLO issuance in 2011 is set to race past the $5 billion mark by the end of the month as details of another new deal emerged