European CLO spreads break into 120s with new CVC print
Furthering a tightening cycle that began at the end of last year, CVC has become the first manager in Europe to price triple-A coupons in the 120s this year

Partners CLO reset sees triple-As price wide of previous level
The steady stream of European resets continues with Partners Group pricing a reworking of a 2022-vintage CLO

Capital Four resets short-dated CLO from 2022
Capital Four has reset its European broadly syndicated deal Capital Four CLO IV, achieveing some of tightest senior spreads this year

Onex impresses with tight CLO mezz spreads
Onex Credit Partners priced its eleventh CLO transaction and second European offering of the year

New AXA European CLO shows mezz dispersion
AXA maintained its prolific recent rate of issuance, with a new European deal – the firm’s first for the year – following on from two US deals last month

Oaktree pushes European CLO triple-As down to a neat 130
Spreads on new-issue European triple-As hit a new low of 130bps over Euribor on Friday, when Oaktree priced its latest CLO

GoldenTree resets 2023 European CLO
GoldenTree has taken advantage of tightening spreads to reset a 2023-vintage European CLO, arranged by Bank of America

Permira boosts European reset flow
Moving into the second half of 2024, a steady stream of 2022-vintage CLO resets is set to flow in Europe, and Permira Credit contributed to this wave with its latest deal

Third CLO’s a charm for Arini
Arini Capital maintained its dramatic growth in the CLO market on Friday, pricing an impressively tight new European deal

Chenavari picks up pace with mezz refi
Returning to the primary market with its second deal of 2024, Chenavari Credit Partners has printed an unusual partial European refi

Tikehau solidifies European narrowing with new CLO
Tikehau Capital has priced a new EUR 406.2m CLO, reinforcing the European market’s ongoing narrowing of liability spreads

Fidelity prices new European CLO with triple-As at 131
Fidelity Investments priced its Fidelity Grand Harbour CLO 2024-1 yesterday at a new record year-to-date triple-A tight.

Barclays sees record European CLOs for 2024
Barclays expects a record year for CLO deals in Europe, raising its issuance forecast to EUR 40-45bn in a report released this week

Investcorp prices European CLO reset
Investcorp injected some life into the European CLO market on Wednesday, with a EUR 374m reset of a 2022-vintage deal 

Natixis markets new AXA European CLO
AXA is among the managers boosting the pipeline of forthcoming European deals, with the manager currently marketing a new European issue via Natixis

Investors flock to CLOs as interest rates stay high
A surge in demand from global investors combined with flat net supply has winnowed down yields in the USD 1.3tn CLO market. And the outlook is for another step down for spreads despite last month’s record issuance.

Manager tiering reaches Europe as credit dispersion rises in mezzanine credit
Long a fixture of the US market, tiering has not played a significant role in Europe. But there is growing evidence of differentiation starting to emerge between managers, especially at the lower end of the capital stack.

CLOs at a glance
CLOs at a glance

Fidelity markets new European CLO that would match YTD tights
Fidelity is marketing a new issue European deal with the triple-As poised to equal year-to-date tights, suggesting prints in the 130s are becoming ‘the new normal’

Palmer Square takes its turn lowering the Euro AAA CLO benchmark
Less than a week after Partners Group set a new AAA benchmark for new European CLOs, Palmer Square has tightened the mark further

ICG returns to the European CLO market
Intermediate Capital Group’s first primary market deal this year took the form of a new issue European transaction

European triple-As move in 5bps as Partners prices new CLO
Partners Group took a big step towards tightening spreads further in Europe, with its latest new issue on Friday pricing its triple-As at 136bps over Euribor

Golub prints tightest new middle-market CLO of 2024
Golub Capital, working with RBC Capital Markets, has priced a new middle market CLO with the tightest senior and mezz spreads so far this year

New European CLO sees triple-As at 141bps
Bain Capital yesterday kick-started new European issuance with a EUR 404m transaction that matched the tightest triple-A print this year

European BSL CLO Rankings - May 2024
Our latest rankings for the European CLO market, including arranger and manager league tables