Quick! Avaya has ignited and $1 billion of CLO assets are at risk
Sparks are flying in the leveraged loan and high yield market after communications company Avaya Holdings slashed its forecasted earnings mere weeks after syndicating new debt. The rapid decline of Avaya's debt has left CLO managers little time to avoid the blaze

Market sentiment shifts as investors turn bullish on loans and CLOs
CLO market sentiment has shifted decisively in recent weeks with investors expressing more optimism than earlier in the year

Symphony 36 proves music to ears as US CLO spreads strike a chord
Nuveen Asset Management priced Symphony CLO 36 on Tuesday to provide another signal that US CLO spreads are moving tighter

Wells Fargo adds familiar face to US CLO team
An experienced CLO official is returning to Wells Fargo after seven years 

Global captive CLO equity fund closes with $230 million
The fund will invest in majority equity positions of the manager's US and European CLOs

Large US banks shed $8.5 billion of CLOs as others step up
Three of the largest investment bank buyers of CLO paper - Citi, JP Morgan and Wells Fargo - cut their portfolios by a combined $8.5 billion in this this year's second quarter

US CLO pipeline: Blackstone goes for 10 with tightest triple As of August
Blackstone Credit is marketing its latest CLO, Storm King Park, which will be the manager’s tenth US new issue of the year

CVC prints latest CLO's senior triple As at just 208 basis points
CVC Credit Partners priced a new CLO on Wednesday, scoring one of the tightest triple A prints in the last month

Fast-growing manager launches $406 million captive CLO equity fund
The fast-growing credit boutique has become the latest manager to launch a captive CLO equity fund, giving the firm the ability to control the pace of its CLO issuance

US pension ups allocation to two CLO funds
Rhode Island State Investment Commission has upped allocations to two CLO funds it allocated $125 million each to the funds last summer

US CLO triple C buckets will increase by up to 0.7% in August: BofA
US CLO triple-C baskets are expected to fill up by as much as 0.7% in August trustee reports, according to strategists at Bank of America, with the pace of triple C downgrades picking up in July to reverse an 18-month trend of stable or declining triple C concentrations

Mid market CLO league tables: deal drought keeps leader board tight
July was the quietest month for middle market CLOs in the last 12 months. Blackstone Credit’s BCRED MML CLO 2022-2 was the sole deal to price, which added $498.11 million to the year’s tally

US CLO league tables: Citi closes in on BofA’s lead
Despite market slowdown, US CLOs continue to produce steady monthly volumes over the $10 billion mark. July brought an influx of $11.99 billion to the US market from 28 new issue deals

Global CLO league tables - July 2022 YTD
Global CLO league tables - July YTD

Irradiant splits US CLO triple A tranches with two non-call periods
Irradiant Partners issued its first US CLO of the year today via Goldman Sachs with a longer non-call periods for one of the triple A tranches

Triple A CLOs discounted by 0.5 cents as spreads widen
Selling triple A CLOs in primary at a 0.5 cent discount has emerged as one way for managers to get new transactions over the line amid a tough outlook for issuers

Making the grade: CLO managers move into IG bonds
CLO managers have been using the incredible volatility in credit markets this year to add an unfamiliar asset to their portfolios – investment grade bonds

US CLO triple As reach 225bp as CIFC prints sixth deal of the year
CIFC Asset Management printed its sixth US new issue of the year yesterday, pairing with Morgan Stanley on the $392.3 million transaction

Indicative deal structure emerges for debut Centerbridge BSL CLO
A preliminary deal structure has emerged for a forthcoming Centerbridge Partners debut CLO, in the market via Morgan Stanley

CLO market mood sours amid bitter economic outlook

PGIM scores new CLO with five-year reinvestment period
PGIM priced a new $494.3 million CLO on Thursday via Citi named Dryden 104 CLO

Oak Hill prints rare four-year reinvestment US CLO
Oak Hill Advisors priced a rare four-year reinvestment CLO on Thursday, partnering with Citi on the $400 million deal named OHA Credit Funding 13

Allstate prices US CLO with tight coupons as triple As hit 205bp
Allstate Investment Management has priced its second CLO of the year at what appears to be a much tighter level than other five-year US deals

Redding Ridge prices fourth US new issue CLO of 2022
Redding Ridge Asset Management, the CLO manager arm of Apollo Global Management, returned to the primary CLO market on Friday

Bain and Carlyle print five-year reinvestment CLOs with senior triple As at 210bp
Bain Capital Credit and Carlyle Group each issued a new five-year reinvestment CLO on Thursday, with each deal's senior triple A tranche paying a coupon of 210 basis points over Sofr