Multiple managers price first new-issue CLOs of 2025 as dealmaking heats up
Birch Grove, Napier Park, Muzinich and FS Structured Products Advisor have all priced new US BSL CLOs  

Audax and Nuveen price their first private credit CLOs of 2025
The deals – one new issue and one reset -- are the first middle market activity from either manager this year  

Apollo sets fresh triple-A low with latest print in Europe
Compared to the manager’s European deal last month, the cost of funding was 13bps lower  

KKR prints two US CLO repricings on same day
The two deals, both priced via BNP Paribas, totalled some USD 886m

M&G prices third new European CLO in post-crisis era
While spreads for the deal were generally fairly tight, there was some evidence of emerging weakness in the single As  

Canyon knocks 107bps off AAAs with 2022-vintage reset
The reset of Canyon CLO 2022-2 priced the top of the stack at SOFR plus 118bps  

Golub massively upsizes private credit CLO for biggest deal in years
Golub has reset and massive upsizes a 2021-vintage CLO, turning a USD 1b deal into a more than USD 2b one  

Allstate prices second reset of 2017-vintage CLO with equity boost
The repricing of the deal, last reworked in 2021, included an equity injection of USD 8.8m  

Northwestern Mutual prints 2025’s first new short-dated US CLO
The issue also marked the manager’s first issuance activity for the year

Fidelity’s Ballyrock prints its second reset of 2025
The reset priced the top of the stack five basis points tighter than another reset by the manager just three weeks earlier  

CIFC prints first new issue this year under JV with Teacher Retirement System of Texas
The USD 607m CLO is the latest in the manager’s joint venture with the Teacher Retirement System of Texas

Elmwood prints US BSL CLO with unusual structure
The second new issue US BSL this year from the manager has 10 tranches arranged in senior/junior splits  

Blackstone is seventh this year to print a new US BSL CLO at current market tights
Lake George Park CLO is the first new issue BSL-backed deal from the manager this year

CVC, Octagon price new US issues with AAAs at current tight
CVC's print established a new low this year for the overall cost of funding on a standard-duration US CLO with AAAs at 113bps  

Private credit CLOs see dramatic drop in spreads, at historic lows
With increased interest from managers and investors alike, middle market CLOs have seen steady spread compression down to post-GFC record low

Barings becomes latest to match US market tight for new deals
Another new issue US BSL CLO prices AAAs at SOFR plus 113bps    

AGL, PIMCO rework 2021-vintage US CLOs
AGL and PIMCO both refinanced deals from 2021 and priced the top-of-stack paper at SOFR plus 95bps and 99bps, respectively  

Voya's first new US BSL CLO of the year hits AAA tights
The deal priced the senior-most tranche of triple A notes at SOFR plus 113bps

Canyon prices its third CLO since entering Europe
Canyon Partners has priced its first European CLO since April last year  

Hayfin returns to market with first US CLO in nine months
The reset of the 2020-vintage deal priced the top of the stack at SOFR plus 123bps  

HPS issues new BSL CLO with AAAs at SOFR plus 115bps
The second deal from the manager so far this month printed with triple-A coupons 3bps tighter than the first  

UBS prices first new US issue for 2025 close to current AAA tight
The USD 604m deal saw the senior triple-A paper paying 114bps over SOFR  

Fidelity tightens up with first Euro CLO reset of 2025
The repricing set a new year-to-date triple-A tight for European resets of Euribor plus 123bps  

‘You have to prepare for further tightening’
In the first Investors's Corner, we spoke with Tetragon's Dagmara Michalczuk to discuss CLO equity

Napier Park resets four-year-old US CLO
The reworking of Regatta XVIII is the second reset so far this year by the manager