CLO pipeline: New issuance pause ends as managers look to gain from rallying spreads
It is two and a half weeks since the last US CLO new issue priced, but that is set to change and Bridgepoint’s debut European transaction on Friday brought an end to Europe’s own two-and-a-half-week primary break

Global CLO b-wic round-up: Secondary markets rally despite ‘worst liquidity seen all year’
An adjournment in the US for Veterans Day last week still left plenty of time for the CLO secondary market to rally, thanks to Pfizer's covid-19 vaccine breakthrough and a firmer indication of the US presidential election results

US and European CLO PMs earn promotion as Carlyle's Pace takes on new role
Carlyle Group’s global head of liquid credit has decided to take on a new role as vice chair of global credit, according to an internal memo seen by Creditflux, which will involve investing capital across the Carlyle platform

Beneath the triple C: cinemas get clipped but default picture improves
14 corporate debt issuers were downgraded to triple C or below in October by Moody’s or Standard & Poor’s – hurting $3.15 billion of US CLO loans, €761.73 million of European CLO portfolios and $37.95 million of middle market CLOs loans, according to CLO-i. Cinema chains were among those to suffer last month

York executes post-pricing upsize on CLO's floating rate notes
York Capital Management has upsized a US CLO between its pricing and closing dates, mirroring a route taken by PGIM in August

US CLO league tables: JP Morgan nips ahead of Citi as debutants pour in
JP Morgan has surged to the top of new issuance rankings following a busy September and October in which the bank was lead arranger for 10 new CLOs totalling $3.9 billion

Euro CLO league tables: Credit Suisse emerges top after big changes at Europe’s CLO desks
October was the busiest month for the European CLO market since the coronavirus first forced global lockdowns in March. Volume reached €4 billion across 12 transactions

Mid market CLO league tables: Golub becomes talf of the town
Golub Capital Partners became the first manager to price a CLO eligible as collateral under the US Federal Reserve’s term asset backed securities loan facility when it teamed up with Societe Generale to price Golub Capital Partners talf 2020-1 on 22 October

Global CLO league tables - October 2020 YTD
Global CLO league tables - October 2020 YTD

Voya adds to double A and single B CLO exposure in Q3
Voya Financial added to its total CLO investments in the third quarter, with a sharp increase in the volume of double A and single B notes on its books, according to the firm's earnings call presentation which was released today

US CLO round-up: 23 managers wait in the wings after avoiding pre-election rush
CLO managers rushed to the primary market last week as they sought to lock in financing before the US presidential elections. This resulted in one of the busiest weeks in the primary market with 10 new issues

Global b-wic round-up: Europe drifts wider
The CLO secondary market had a robust week with $860 million of US CLO paper and €315 million worth of European CLO bonds listed. But spreads widened off the back of concerns over lockdowns across the globe, the increased risk of downgrades and tomorrow’s US presidential election

Five-year reinvestment CLOs now market standard after Kayne prices
Kayne Anderson has priced its second CLO post-covid and continued the market's decisive shift towards five year reinvestment periods

Fortress prices first BSL CLO in over a year
Fortress Investment Group has priced its first CLO backed by broadly syndicated loans in over 12 months

Palmer Square achieves tightest cost of debt for European CLO since March sell-off
Recent European CLO debutant Palmer Square Capital Management priced its second static CLO on the continent last week

Onex prints seniors at 141.6bp in five-year reinvestment CLO
Onex Credit Partners has priced its third US CLO post-covid, and its first with a five-year reinvestment period

York completes first new issue CLO of 2020
York Capital Managemend priced its first new issue CLO of the year on Friday, teaming up with Goldman Sachs on the $387.6 million deal named York CLO-8

CLO Census results: Citi comes out top but several banks make big leaps
Citi has been voted top in five out of the eight primary CLO categories as part of the 2020 Creditflux CLO Census, but BNP Paribas, Goldman Sachs, Jefferies and Natixis are among the banks that have made huge strides compared to last year

Sculptor returns to European CLO market after 14-month absence
Sculptor has priced its first European CLO of the year via Barclays. The deal brings CLO issuance in October so far to a strong €2.4 billion and year-to-date issuance to just over €17 billion

Gulf Stream employs 'additional issuance' option to complete novel CLO upsize
Gulf Stream Asset Management has upsized the entire capital stack in Gulf Stream Meridian 2 five months after the deal was closed, in what is thought to be first 2.0 CLO to opt for an upsize after closing date

OC health check: CLOs wake up when September ends
September showed a slight but clear improvement in CLOs’ over-collateralisation test results as 182 CLOs breached an OC test during the reporting period, compared to 198 in August.

CLO pipeline: fixed income giants plan debut 2.0s with Morgan Stanley
Two large fixed income managers are pre-marketing debut 2.0 CLOs

Symphony issues first CLO since integration with Nuveen
Symphony Asset Management has priced its first new issue CLO in nine months, and its first since announcing the integration of its leveraged finance business with affiliate Nuveen

Marathon prices first new issue CLO of 2020
Marathon Asset Management has completed its first new issue CLO of 2020

GSO edges past Redding Ridge in 2020 CLO new issues with US deal
GSO Capital Partners priced a new issue US CLO on Friday, bringing its total volume globally for 2020 ahead of Redding Ridge Asset Management for the first time since March