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

New European CLO priced by Investcorp
Investcorp paired up with Deutsche Bank to price one last European deal before the start of this year’s Global ABS Conference

Hayfin prices short-dated reset of European CLO
A reset of Hayfin Emerald CLO X came with a twist – a short-dated, two-year reinvestment schedule

2022-vintage Apollo European CLO gets mezz-only refi
With four 2022-vintage CLOs being reworked in a single day, the anticipated boom in European reset and refinancing issuance kicked off in earnest on Friday

Invesco prices mezz-only European CLO refi
Last Friday also saw the pricing of two unusual mezz-only refis. Jefferies arranging the reworking of one of them, Invesco Euro CLO VIII

Trinitas resets 2022 vintage European CLO
The European market saw a rush of pricing activity late on Friday, including an upsized reset of a European 2022-vintage Trinitas CLO

Barings prices first European new issue CLO this year
Barings has priced its first European deal of 2024, a EUR 407.85m CLO arranged by BNP Paribas

European CLO round-up: senior spreads grind tighter in busy week for the market
Last week proved a busy one for European issuance, with no fewer than five deals pricing, all with AAAs below 150bps

European CLO wave continues with new Goldentree deal
A strong bout of issuance in the European market was wrapped up at the end of last week by GoldenTree