Falling correlation reignites passion for index tranche trades
Dispersion in the global corporate credit market is rekindling interest in correlation trading, with dealer sources reporting that a late surge lifted 2019 index tranche volumes to $250 billion.

Pitching your structured credit fund: the three golden rules
Structured credit fund managers were given a lesson in how to market their strategies by a group of asset allocators at the Creditflux CLO Summit in New York.

New GSO US CLO scores tightest funding costs since early October
GSO Capital Partners has returned to the CLO primary market and produced the tightest new issue for over two months

Neuberger Berman splits new CLO tranche into principal and interest
Neuberger Berman has split its latest CLO's double A notes into principal and interest-only bonds, according to market sources, in a structure that echoes the ‘mascot’ features that rose to prominence in the CLO market this year

Benefit Street completes new issue CLO via Morgan Stanley
Benefit Street Partners priced a new issue CLO via Morgan Stanley on Friday named Benefit Street Partners CLO XIX, according to market sources, with the deal pricing at $508.7 million

HalseyPoint markets debut deal with single Bs as senior US CLO spreads gap wider
HalseyPoint Asset Management is marketing a debut US CLO, which brings a return to CLO issuance for experienced portfolio managers Lynn Hopton and Yvonne Stevens

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

Mid market CLO league tables: first time managers crack the top five
Five new issue middle market CLOs priced in November for a combined total of $2 billion with Audax and Owl Rock doubling down in 2019.

US CLO league tables: CSAM pulls away from pack
The back and forth tussle between Octagon Credit Investors and Credit Suisse Asset Management for the lead in the US CLO issuance league tables took a new turn in November

US loan trading: CLO managers flee Acosta but gorge on Buckeye
Loan holdings in October gave CLO managers a taste of the good, the bad and the ugly: they feasted on Buckeye, fled Acosta, and could not get rid of Deluxe   

Highland Capital Management LP bankruptcy moves to hostile territory
Highland is set to return to the scene of trauma, as its restructuring moves to a Texas bankruptcy court

Flexible CLOs grow in popularity as two managers eye triple C-heavy deals
Two credit managers - Anchorage Capital Group and Gateway Credit Partners - are in the market with their inaugural CLOs featuring high allowance for triple C assets

Wellfleet partners with Goldman Sachs for first time to market new CLO
Wellfleet Credit Partners is in the market with its first new issue CLO to be arranged by Goldman Sachs, according to market sources

Global CLO b-wic round-up: Junior mezz covers return while triple A supply drives big week
Narrowing of the bid-ask gap that has plagued junior mezzanine tranches could bring a change of fortunes in the US CLO secondary market 

Morgan Stanley IM prices debut CLO after $50 million upsize
Morgan Stanley Investment Management priced its debut CLO on Friday, becoming the 14^th first-time CLO issuer in the US market of the year

Double Bs tighten as Regatta prices junior CLO debt at 730bp
Regatta Loan Management, the CLO management entity linked to Napier Park Global Capital, has joined the select number of US CLO issuers to price double-B rated debt at less than 800 basis points

HSBC notches up first US CLO arranging credit
HSBC has teamed up with Natixis as co-arranger on the latest new issue CLO from Cerberus Business Finance

Norinchukin's CLO portfolio decreases for first time in years
Japanese CLO heavyweight Norinchukin posted its financial statements yesterday, where it reported a 1.42% drop from its statements at the end of the second quarter

Marathon issues CLO with limitation on B3 loans
Marathon Asset Management’s new $405 million US CLO has a 25% cap on loans rated B3 and below, says a source close to the deal

CLO tranche investor leaves Carlyle after 12 years
The New York-based co-head of global structured credit has parted ways with Carlyle, sources say. The firm is understood to have appointed a replacement in London

Conservative approach pays off as Kayne Anderson issues tight CLO triple Bs
US loan managers that run conservative portfolios are being rewarded in the primary CLO market with tighter junior debt financing

Western adds 5% CLO bucket to listed US loan fund
Western Asset Management has added CLO debt and equity tranches to the investment mandate on a loan fund that is listed on the New York Stock Exchange

Creditors left with sour taste as two food companies file for bankruptcy
Credit investors have been left to digest two US food company bankruptcy filings this week, with dairy producer Dean Foods triggering the first credit event to hit on-the-run series 33 of the CDX HY index, while Houlihan's Restaurants has also sought protection

Audax goes for longer reinvestment period with second mid market CLO
Audax Private Debt yesterday priced its second CLO backed by loans to middle market companies, according to market sources

Barings matches November benchmark with new US CLO
Barings yesterday returned to the CLO primary market with the tightest triple A print on the month