Sound Point breaks one month European CLO market silence as pipeline builds
After the longest pause in the European CLO primary market since December 2018, Sound Point has broken the silence with a static new issue while other managers are exploring static and print and sprints to get deals done

European CLO market set to reap rewards from Harvest as Nochu returns
Prolific CLO triple A investor Norinchukin is set to make its grand return to European CLOs with the Japanese bank providing anchor triple A investment in Investcorp’s forthcoming new issue

Sound Point explores European static CLO with turbo tranche
Sound Point Capital Management has opted to explore a static structure for its latest European CLO, in the latest sign of managers trying to be innovative to get the market moving

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

Oaktree identifies CLOs among top picks in credit
Oaktree Capital Management’s head of performing credit Armen Panossian has outlined CLO tranches among his three favoured investments in this market

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

Panelists look at a mixed future for CLOs as conference opens in Barcelona
Prominent headwinds and the uncertain state of the market was at the forefront of discussion on CLOs yesterday as the Global ABS 2022 conference got underway in Barcelona.

Euro CLO league tables: short on deals but high on drama as new issuance race tightens up
For the second straight month, European CLO volume was below €2 billion, making it the first time there has been back-to-back months of less than €2 billion issued since November and December 2020

Global CLO league tables - May 2022 YTD
Global CLO league tables - May YTD

European CLO triple As widen to 140bp with long-awaited Permira deal
European CLO triple As have widened out to 140 basis points over Euribor, as Permira Credit breaks the two-week CLO market silence by pricing its long-awaited new issue deal, Providus CLO VII

Junior debt investors gain seat at Euro CLO negotiation table
CLO documentation and structural negotiations are no longer limited to triple A noteholders and majority equity investors in Europe

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

CLOs at a glance (June 2022)
A listing of CLOs that have priced in the last month
 
   

Carlyle prepares to sprint after taking plunge with "unramped" European CLO
Carlyle Group has produced what is believed to be a rare print-and-sprint CLO in Europe

Invesco installs turbo single B tranche in European CLO new issue
Turbo tranches have returned to the European CLO market with Invesco using the mechanism attached to the single B-rated tranche in its latest new issue

Angelo Gordon prints 30th European CLO new issue of 2022
The €447.95 million deal, named Northwoods Euro CLO 26, brings CLO new issuance volume this year to €12.6 billion, according to Creditflux data

Quadruple winner Redding Ridge celebrates with new European CLO
Redding Ridge picked up four trophies in awards season (in contrast to one Premier League football team which is labouring in a similar pursuit) and it has struck while the iron is hot to print a new European CLO

Capital Four prints two-year ESG European CLO
Capital Four has become the latest European CLO manager to print a short-dated new issue, with JP Morgan arranging the €351.6 million deal, named Capital Four Euro CLO IV

Euro CLO league tables: PGIM and Jefferies lead as Euribor caps come back in fashion
April was the quietest month of the year in the European CLO market with only €2 billion pricing across four new issues and one reset

Global CLO league tables - April 2022 YTD
Global CLO league tables - April YTD

Managers look at rating agency combos as weighted average life drops
CLO managers are looking closely at rating agency pairings as investors opt for shorter risk horizons, according to market participants.

NatWest buys triple As to win future CLO business
NatWest Markets is understood to be buying European CLO triple A paper on its balance sheet in the hopes of picking up future mandates for its arranging business, according to market sources

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

CLOs at a glance (May 2022)
A listing of CLOs that have priced in the last month
   

Minority equity available in Capital Four's forthcoming short-dated Euro CLO
JP Morgan is marketing Capital Four Management’s latest European ESG CLO, anticipated to price at the end of this week or beginning of next week