OC health check: CLO managers drop their breaches
114 CLOs reported overcollateralisation breaches last week, but only three deals reported breaches for the first time

Elmwood completes second new CLO of 2020 with $392.4 million deal
Elmwood Asset Management, the CLO manager owned by Elliot Management, has priced its second CLO of 2020 and its first following the coronavirus outbreak

Five Arrows notches first new CLO of the year
Five Arrows Managers, the CLO management arm of Rothschild, has priced a short one-year CLO via Barclays

CLO pipeline: marathon runners and sprinters join the race
Five new CLOs priced last week, four of which were US issues and one European, but they have been ably replaced in the pipeline, with a handful of managers looking to strike while the CLO market is still hot

OC health check: slowing of downgrades offers some reprieve for CLOs stuck in breach
89 deals reported overcollateralisation breaches last week, but only seven of these deals were breaching any OC test for the first time, according to the latest reports available on CLO-i

CLO double Bs on sale as sub-investment grade rally fizzles out
After more than a month of rapid tightening, CLO double Bs trended wider last week by roughly 60 basis points, as the market for these sub-investment grade tranches stabilises in the mid-800s

Q2 US CLO volumes pass $14 billion as Benefit Street issues new deal
Benefit Street Partners has issued its first new CLO of 2020, bringing the total volume of US CLOs priced since the coronavirus selloff to $14.32 billion, according to market sources

CLO pipeline: manager prepares crowning return as primary market gets busy
CLO secondary prices have rallied hard in recent weeks, providing impetus for the new issue deal pipeline to fill up quickly. But one surprise is that Western Asset Management has chosen this moment to return to the primary CLO market, after several years' absence

OC health check: US CLOs show improvement as first euro CLOs breach multiple tests
15 deals reported a breach in an overcollateralisation test last week according to the latest reports available on CLO-i, including one European CLO and 14 US broadly syndicated loan CLOs.

Global CLO b-wic round-up: US triple Bs edge wider but 2020 bonds trade at a premium
The furious rally that the secondary CLO markets have gone through over the last two weeks was brought a halt by the Federal Reserve’s reminder on Wednesday night that all is still not well with the economy

Fidelity upsizes two-year US CLO
Fidelity Investments has priced its first US transaction of the year dubbed BallyRock CLO 2020-1

Voya prices first new issue US CLO of 2020
Voya Alternative Asset Management priced its first US new issue CLO of the year on Friday

Beneath the triple C: downgrade rate slows as $8 billion of CLO loans tumble
May offered some respite to CLO portfolios as corporate downgrades to triple C were reduced heavily - affecting just $6.67 billion of US CLO paper and €1.09 billion of European CLO portfolios

OC health check: second European 2.0 CLO reports junior OC breach
33 deals reported overcollateralisation (OC) breaches last week in a relatively quiet reporting period.  314 deals are now reporting OC breaches as of the latest report, according to CLO-i.

CIFC CLO funds outperform after using tech to identify tail risks
CIFC Asset Management has been using technology to its advantage as two of its CLO funds were in the top 10 of our credit hedge fund return tables in April

Spread tightening allows Sound Point to drop delayed draw double Bs in new CLO
Sound Point priced a $399.32 million new CLO via Citi today amid signs the market is on track to return to normalcy following the coronavirus outbreak

Anchorage explores possibility of first five-year CLO structure post-coronavirus
Anchorage Capital is testing the waters for the first five-year reinvesting CLO structure since the pandemic-led downturn

Global CLO league tables - May 2020 YTD
Global CLO league tables - May 2020 YTD

US CLO league tables: light at the end of the tunnel as primary revives
May brought a rise in US CLO primary market activity with a combined $5.55 billion in new issuance for the month

Mid market CLO league tables: breakthrough as Owl Rock ends deal drought
After a barren April, mid-market CLO activity returned in May with Owl Rock pricing its second deal of the year

Moody's puts 241 CLO tranches on downgrade review including five rated Caa3
Moody's has added another 241 US CLO tranches to its list of reviews for possible downgrade, the agency has announced

Zais returns to CLO primary market with one-year deal
Zais Group has made its CLO primary market return, teaming up with RBC to price a 1.12-year reinvestment deal via RBC

CVC prices new CLOs in Europe and US
CVC Credit Partners has priced its first new CLOs post-covid 19 on both sides of the Atlantic - and dragged the US CLO market tighter in the process

Dishware maker files for bankruptcy as CLOs hold $200 million
CLOs hold $207.58 million of Libbey Glass, which filed for chapter 11 protection in the US Bankruptcy Court for the District of Delaware on Monday, as a result of the firm's impending debt maturities and the impact of coronavirus

CLO double Bs go on late night b-wic as spreads tighten sharply
Investors are piling into junior US CLO tranches as traders begin to see economic recovery following the pandemic