US investors welcome flurry of CLO new issues
The UK may have been off from Thursday for the Jubilee holiday, but in the US the primary CLO pipeline proceeded apace with several new issues hitting the market before Friday’s close

Beneath the triple C: CLOs take first knock since covid scrapes
CLO managers have been hit by a number of loan downgrades to triple C for the first time since the wave of pandemic-related cuts trickled to a halt in early 2021. Companies indirectly linked to the health sector suffered most in May 

AGL prices tight CLO triple As as market shifts wider
AGL Credit Management achieved tight execution on a US new issue CLO

Triple A CLOs set to blow out to 183bp as Ares markets print and sprint
CLO triple A spreads could be set to blow out substantially in the coming days with Ares Management marketing a new issue with triple As understood to be subject at 183 basis points

Orix returns to CLO primary with rare four-year reinvestment structure
Orix Advisers has returned to the CLO primary market with its first new issue in six months

Generate adopts unusual non-call structure for new CLO as triple As hit 160bp
Generate Advisors has priced a new CLO with an unusual non-call structure

BlackRock CLO establishes 150bp new US triple A benchmark
BlackRock has priced a new CLO named Magnetite XXXIII, placing the deal's triple A notes at 150 basis points over Sofr

Octagon prices its largest CLO with high-rated mezz
Octagon Credit Investors on Friday priced its largest ever CLO, and the largest broadly syndicated loan-backed CLO in the market this year

Flurry of US CLOs print as Barclays boosts CLO issuance with Brigade and Bain deals
Barclays has brought over $906 million of issuance to the market, printing deals for Bain Capital Credit and Creditflux’s newly crowned US CLO manager of the year Brigade Capital Management

US CLO new issuance nears $50 billion in 2022 as Allstate, ArrowMark and Palmer Square price
Allstate, ArrowMark and Palmer Square took to the US CLO new issue market on Thursday following a quiet week of issuance, adding $1.3 billion to the market and bringing CLO issuance year-to-date just shy of $50 billion

KKR readies three-year CLO as loans start to tighten
KKR is readying a new CLO with three years of reinvestment capability

US CLO spreads widen with Five Arrows new issue
CLO spreads are extending their widening trend, as Five Arrows Mangers priced its latest new issue with funding costs of 220.26 basis points

Envision exchange leaves some lenders sick, but CSAM finds prevention is better than cure
Envision Healthcare’s distressed debt exchange has rocked the CLO market, with over $1.68 billion of the firm’s loans held by US CLOs. But some of the largest managers have avoided the name completely 

First Eagle follows affiliate Napier Park by pricing US CLO
First Eagle Investment Management  on Friday priced its first US CLO since November 2021, teaming up with Citi on the $403.39 million Wind River 2022-1

Blackstone Credit reclaims CLO leaderboard top spot just one day after Elmwood overtook
Blackstone Credit on Thursday priced its fifth US CLO of the year, bringing its issuance volume to $2.97 billion and retaking its top spot on the CLO leaderboard

Elmwood first to five 2022 US CLOs as it rises to top of manager leaderboard
Elmwood Asset Management on Wednesday became the first CLO manager to print five new deals this year after teaming up with Royal Bank of Canada on the $502 million Elmwood CLO 17

Triple As widen to 155bp with latest Assured new US CLO
CLO triple A spreads moved wider again on Tuesday as Assured Investment Management priced the senior notes of its latest deal at 155 basis points over Sofr

Invesco matches PGIM and Ares US CLO triple As at 144bp
Invesco priced its second new issue CLO this year yesterday, according to market sources as it paired with Morgan Stanley to print Invesco 2022-2

US CLO triple As end week at 154bp as Napier Park and Rockford Tower print deals
Napier Park Global and Rockford Tower Capital Management priced new CLOs on Friday, with each manager printing their triple A notes at 154 basis points over Sofr

Macro woes have dented CLO and loan outlook: Barclays
Rising interest rates and elevated macro volatility have negatively impacted the performance outlook for both loans and CLOs, according to Barclays credit strategists

Cairn signals US credit ambitions by hiring CLO PM from GSAM
Cairn Capital has hired a CLO portfolio manager to lead the firm’s US leveraged credit business

NatWest keeps up momentum in US mid-market CLOs with role on MidCap new issue
NatWest Markets has scored another US CLO new issue arranging credit after teaming with Natixis and Apollo Global on Apollo-affiliate MidCap Financial's latest middle market transaction

US CLO league tables: Blackstone gets back to business as it rises to the top
Blackstone is no longer the largest CLO manager globally (it lost that title in March). But it is the most prolific issuer in 2022 

Mid market CLO league tables: Arranger base grows as bumper day boosts issuance
Managers priced $3.4 billion of mid market CLO paper priced last month, the second busiest month of the year behind February and the third straight month new issues and resets made up 100% of issuance