European CLOs back on track for record year, but caution remains – Global ABS panellists
Panellists at this year’s Global ABS conference in Barcelona say European CLO issuance has recovered from its April hiatus – but concerns remain, especially over lack of leveraged loan supply and deteriorating credit quality

Tariff headlines drive some HY auto parts names lower as Babilou loan plunges – Market Comment
Markets are down following newsflow that US President Donald Trump announced a 10% tariff on all imports into the US, with even higher rates for countries he called the “worst offenders"

JetBlue's new loan struggles to take flight
CLO managers had less appetite for JetBlue’s new loan after the airline was downgraded to B3 and B- 

Stunning January rally means CLOs are back in business
Longtime observers of the CLO market tell Creditflux they have “never seen the market move so quickly” after a rip-roaring January saw a spectacular rally in both loans and CLO debt.

Banks are motivated sellers of loans and CLOs can benefit, says Eagle Point
Banks offloading loans long held on their balance sheets are providing CLOs with the opportunity to pickup primary market assets at deeply discounted prices, Tom Majewski, managing partner at Eagle Point Credit Management said on a company earnings call on Tuesday

Credit Suisse to streamline European CLO manager client list
Credit Suisse is unlikely to be among the heavyweights in European CLO origination with market sources indicating that the bank is reducing its CLO manager client list

Private equity firms are becoming CLO converts: TwentyFour
Private equity firms have increasingly bought CLO and other securitised debt tranches in recent weeks instead of their usual preference for physical assets - a trade TwentyFour believes "makes perfect sense"

Patchy primary market slows European take-outs
European CLO issuance is reaching a crossroads, with several warehouses ramped while the path to the primary market is hazardous.

Blackstone scores record with century of US CLOs
Blackstone Credit has become the first manager to price 100 US CLOs, following the printing of Storm King Park CLO in August

The Last Tranche with Octagon's Nechamkin: Investors were selling the larger loans that were easier to sell
In this episode of the Last Tranche, Mike Nechamkin, chief investment officer and senior portfolio manager at Octagon Credit Investors, discusses the reasons behind the recovery in loan prices in recent weeks

Widening asset/liability gulf will hurt CLOs: Barclays
A mismatch between CLO asset / liability rate risk is increasing in the US as more leveraged loan issuers opt for one-month pay frequency, Barclays credit strategists have found

Short duration CLOs are putting reset risk in the post: Barclays
The CLO market’s recent trend of shorter duration issuance could be setting up a problem for managers down the line that will impact their equity returns, Barclays has warned

European CLO managers wait for stability as loans slide
European loan prices have dipped into the high 80s, as Creditflux goes to press, which should create an attractive entry point for loan buyers. But, in reality, the bid for these assets has not been strong, particularly from CLOs amid fears loans could slump further still

Manager selection stakes are heightening as CLO pain points intensify: Barclays
CLOs’ slump in market value and piling of distressed assets have made differentiation between managers much more acute on key metrics, regionally and by vintage, according to Barclays credit strategists

CLO investors show more signs of optimism than other ABS: Barclays
CLO investors attending the Global ABS conference in Barcelona were more upbeat than those that work in residential mortgage-backed securities and other ABS, say Barclays securitised credit strategists. But the overall mood was sombre

Euro loan slide hits ramped warehouses as Carlyle eyes print and sprint deal
European loans tumbled in May, leaving CLO warehouses under pressure and causing a slowdown in primary issuance

US managers open new CLO warehouses at rapid rate
US CLO managers are opening new warehouse facilities at a rapid pace, with some sources suggesting the rate of new warehouse formation to be the fastest in years

Think of the arb, say US CLO panelists after big loan drop
Far from being a cause for alarm, falling loan prices have brought a welcome opportunity in new CLO issuance for managers and investors, according to speakers at the Creditflux Symposium in London today

Loan buyers warned about rush of Sofr opt-in amendments
CLO managers must be mindful of loan amendments that facilitate a benchmark switch from Libor to Sofr, as they could find themselves buried in paperwork and locked into tight deadlines

Investable universe for Euro CLOs shrinks amid inflation
The number of loans suitable for European CLOs is getting smaller at a time when new CLO issuers are looking to enter the market

Tech firm eyes data-driven approach to CLO management
As New York-based tech firm Exos prepares to launch what it calls “the first truly tech-enabled CLO”, the specialist leading its efforts says technology could soon play a central role in CLO portfolio optimisation

Attack-minded CLO managers capitalise on bearish outlook
Some of the most aggressive CLO managers have benefited from loan market volatility in March after having tweaked their portfolios in the months beforehand

US loans recover but CLOs lag and issuance stutters
The US leveraged loan market spent the latter half of March recovering losses from Russia’s invasion of Ukraine, with prices now above where they were when the war started

European CLO pipeline thins as investors wait for stability
The European leveraged loan and CLO market has yet to regain momentum following the start of the Ukraine-Russia conflict, with investors pointing to a thin immediate CLO pipeline

European loans stumble after bright start to 2022
Jitters around inflation, interest rate hike expectations and escalating geopolitical tensions in Russia/Ukraine have created softness in the European leveraged loan market