US CLO league tables: new issues drive volumes as Morgan Stanley and Citi occupy top two spots
Two months into 2019 and the US CLO market looks very different to previous years, as the balance of deal origination has changed

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

Palmer Square follows its own path after pricing static CLO with triple As at 105bp
Palmer Square Capital Management is steering clear of the beaten track most CLO managers go down: the firm has followed up a hybrid CDO with a static CLO

Ares notches up its second US CLO of the year after partnering with SocGen
Ares Management priced a five-year CLO with the second tightest weighted funding costs of 2019 last week

CIFC becomes second CLO manager of 2019 with two US new issues
CIFC Asset Management on Friday became the second CLO manager to price a second US new issue in 2019

Global CLO b-wic round-up: momentum stalls in CLO secondary market
Only $589.94 million worth of assets were posted on CLO b-wics last week with a US public holiday disrupting the flow. But the trade rate was high with some $422.74 million of CLOs changing hands.

Onex CLO hits mid-range with triple As, but triple-Bs point to widening
Onex Credit Partners has returned to the CLO market with its first new issue since May last year, say sources

Ellington goes for two-year reinvestment period as it prices CLO
Ellington Management priced a $478.5 million CLO via Barclays on Friday, continuing its strategy of selecting portfolios with high tolerance of triple C-rated loans

CLO refi spreads shift wider as Apollo reworks 2016 deal
The US CLO refinancing market has moved drastically wider over this month, suggesting that the CLO term curve is flattening out

PGIM prices largest CLO transaction since May in billion-dollar reset
PGIM priced 2019’s biggest CLO transaction so far yesterday with a $1.01 million reset arranged by Goldman Sachs

Anchorage prices 2019's first CBO with seniors at 4.62%, halving basis with CLOs
Anchorage Capital Group priced 2019’s first CBO yesterday, naming the $300 million deal Anchorage Credit Funding 7

CLOs are not like CDOs, says Barclays, but warns of loan quality impact
CLOs are far removed from the kinds of structured products that contributed to the 2008/09 global financial crisis, Barclays has argued in a wide-ranging research piece this week

US CLO b-wic round-up: secondary market continues its hot streak
The US secondary CLO market last week reached its busiest pace of the year so far with $1.1 billion worth of b-wics posted, a 30% increase on the week before

Wellfleet prices triple As tight of market average after issuing CLO via Mizuho
Wellfleet Credit Partners teamed up with Mizuho on Friday to launch a new issue CLO named Wellfleet CLO X

US CLO round-up: years fall off CLO market as it gets back to its old self
The CLO market is starting to look rejuvenated, with the dense pipeline having this week offloaded seven new broadly syndicated deals and one middle market deal as Creditflux goes to press – totalling $3.7 billion of new paper. 

Mid market CLO round-up: eyes (wide) open as mid-market CLOs re-awaken
AB returned to the middle market CLO space this week after a year out to price ABPCI V. It is the second middle market CLO of the year after Fortress Investment Group refinanced Fortress Credit Opportunities VII. 

Octagon CLO pricing points to tightening mezz tranches
Octagon Credit Investors priced its second CLO transaction of the year yesterday and its first new issue, Octagon Investment Partners 40

SocGen wins first new issue CLO mandate since 2017
Societe Generale is working on its first CLO new issue mandate since 2017, according to market sources

MUFG prices new issue CLO for TCW with AMR mechanism written in
TCW Asset Management Company priced a new issue CLO yesterday featuring Applicable Margin Reset (AMR) technology

Sound Point shrugs off flat CLO curve as it targets 43bp tighter triple As with refi
New issues have been the main source of business in the US CLO market this year with market sources divided over the merits of CLO refinancings

CLO pricing stands firm as Barings prices senior triple As at 132bp
Barings priced its first new issue CLO of the year yesterday, with the triple As coming in 1.91 basis points tight of the ten-day average at 134.82bp, although the deal still indicates a widening market

US CLO refi highlights 4bp roll down on term curve
TCI Capital Management refinanced its 2016-1 CLO last week via BAML on Friday, with pricing revealing a 12 basis points differential between two-year CLOs and five-year deal

GSO becomes first manager to price two new issue CLOs this year
GSO Capital Partners on Friday became the first manager to issue two new CLOs in 2019, following the $502.05 million deal named Buckhorn Park

US CLO round-up: Anchorage keeps primary open as debutants and newcomers fill pipeline
Anchorage Capital shored up the CLO market this week against an untroubled horizon as the sole manager to price a new issue, while TCI Capital Management priced the first refinancing of the year as Creditflux went to press.

Global CLO league tables: new year, new issues
Momentum in the CLO market at the start of 2019 is less forceful than it was at the beginning of 2018 and 2017, on the basis of opening volumes