Cairn prices €419 million CLO with triple-As tight of market
Recent spread dispersion in the European CLO market is evidenced by Cairn Loan Investments’ pricing of a €418.73 million CLO in which the triple-A tranche came tight of the 10-day rolling average but the single-B piece was deeply discounted

Be-Spoke one week away from pricing breakthrough SME CLO
Be-spoke Capital has moved a step closer to pricing its SME loan securitisation, with price talk emerging for the forthcoming Alhambra SME Funding 2019-1

Single B spreads tighten dramatically as Invesco prices third euro CLO
Invesco yesterday brought its third CLO new issue to market via Barclays, according to market sources

PGIM becomes first CLO manager to price 12 transactions in 2019
PGIM has priced a €412.38 million new issue CLO via Citi named Dryden 73 Euro CLO 2018, becoming the first CLO manager to complete 12 transactions globally this year

Capital Four makes CLO market entry with debut transaction
Capital Four Management priced its inaugural CLO this morning, becoming Europe’s eighth debut manager of 2019

Euro loan trading: Swissport flies into CLO hands
A total of €339.9 million of Swiss airport business Swissport boarded CLOs in August, making it the most popular issuer in August

CLO pipeline: Sculptor begins to mould its first CBO
Silence! Artist at work: Sculptor has got its apron on and is shaping up to launch its first CBO

Chenavari joins growing group of CLO managers to refinance 2017 deals
Chenavari Credit Partners on Friday partially refinanced Toro European CLO 3, joining the small but growing list of managers to reprice 2017 CLOs in recent weeks

Global CLO b-wic round-up: volumes jump as investors get their triple A fix
The US CLO secondary market brought over $1.2 billion in total listings last week with the main driver behind last week’s supply being an increase in US CLO triple A bonds and an anchor equity position.

New manager premiums collapse as Capital Four markets first CLO
Capital Four Management has launched its first CLO and is marketing the deal via Goldman Sachs, according to market sources

Global CLO round-up: Europe mops up demand, as Euribor hits the floor
The final stretch of the year began with a bang, with the first week of Q4 bringing $3.3 billion of CLO issuance in the US and €1.2 billion in Europe. But the resurgence in volumes was not the only talking point last week, with Europe coming into focus as spreads surfed tighter

Global CLO b-wic round-up: control stake trades as junior notes come to the fore
The European and US CLO secondary markets produced high volumes of junior and subordinated notes last week. Over 30% of listings were rated as equity, single B or double B.

Global CLO league tables at a glance - September 2019 YTD
Global CLO league tables at a glance - September 2019 YTD

European CLO spreads reach new tights as BlackRock prices new issue
European CLOs reached new record tights yesterday as BlackRock and Credit Suisse priced the tightest new issue for over 12 months

Rate cuts force US and Europe price re-adjustment
Central banks’ latest round of interest rate cuts sent relative value between US and European CLOs to head into a whirlwind in recent weeks, sources say

Global CLO b-wic round-up: US and European double B trading patterns diverge
48% of the CLO secondary market was made up of triple A bonds; $255.6 million of US CLOs and €108.55 million of European CLOs. But there were differences in how CLO double Bs are trading in those markets.

CLO pipeline: new kids in class look to excel on first assignments
The summer holiday is well and truly over with the European CLO market building on last week’s momentum as three new deals and one reset are to enter the primary market. 

Euro loan trading: Areas caters to CLOs while managers cast away Nets
Global travel catering services Areas flew off the shelf after it allocated its €1.05 billion term loan B, with 50 CLO managers buying the loan

Investcorp looks to become first manager to reset a 2017 CLO
Investcorp Credit Management is setting itself up to be the first CLO manager to reset a deal that first priced in 2017

Euro CLO round-up: debt investors own the floor as tempo picks up
It was one of those rare weeks in Europe when volumes surpassed the much larger US CLO market and, to cap it all off, spreads made a big jump tighter.

Spreads tighten 3bp as Axa IM prices first European new issue CLO for 12 months
Triple A CLO spreads tumbled in Europe again on Friday as Axa Investment Managers priced its first new CLO in 12 months, according to market sources

CLO pipeline: managers look to avoid a repeat of 2018 with new issue flutter
US and European CLO managers are preparing to up the ante in September, but they will have to defy a trend set a year ago

Global CLO b-wic round-up: secondary market awakens with control equity bonanza
Four anchor positions made available on secondary market as equity accounts for over a third of all volumes.

Refis and resets are in the money again in Europe, conference hears
CLO refinancing and reset volumes could be about to surge in Europe once again, according to panellists at the Standard & Poor's European Structured Finance Conference in London yesterday