Oaktree rejigs cap stack and cuts reinvestment on upcoming European CLO
Jefferies is targeting next week to price Arbour CLO IX, with changes to the reinvestment period and a smaller overall deal. As expected, price talk has widened since September marketing 

Barings gets short-dated Euro CLO over line with fixed triple A and delayed single B tranches
Goldman Sachs arranged the €301.5 million deal, which as a one-year reinvestment and one-year non-call

European CLO primary re-awakens to tune of Adagio X
Axa Investment Managers priced a European CLO on Friday (a few days before anticipated), printing a €324.75 million static deal via Barclays

It's Nochu it's me: bank backs out of CLO triple A tranche as it takes sideline
Triple A CLO investor Norinchukin is understood to be taking a pause from investing 

Euro CLO league tables: elements combine to give Redding Ridge new issuance lead
Do you remember, the 16th night of September? What a time to be a European CLO manager... 

Global CLO league tables - September YTD
Global CLO league tables - September YTD

One-year CSOs come to fore as investors predict widening
With credit spreads entering the fourth quarter at much the same elevated levels they began Q3, investors are increasingly looking to bespoke tranches as a way of taking advantage while mitigating the market’s tail risks.

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.

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

Points up front: Form an orderly queue. Or follow the celebs
If we have learned one thing over the past month, it’s that queuing in an orderly manner is very important to the British public. No matter your status, you simply must wait your turn.

Euro CLO triple As reach year's widest disclosed levels at 220bp
European CLO triple As have reached the widest disclosed levels of 2022 at 220 basis points over Euribor amid market volatility 

Five Arrows and Cross Ocean print Euro CLOs with triple As at 200bp
Five Arrows Managers and Cross Ocean both priced European CLO triple As at 200 basis points over Euribor - one has a 4.5-year and the other a one-year reinvestment period 

Europe welcomes four new CLOs in a day after nothing for one month
No issuance to speak of in a month, and then four CLOs come along at once 

UniCredit wraps up three synthetic securitisations with EIB backing
UniCredit says it has produced three synthetic securitisations which will free ithe bank up to lend over €5 billion to small and mid-sized enterprises in Italy, Germany and Bulgaria.

Euro CLO league tables: Goldman Sachs, Fidelity and Tikehau enter fray as Jefferies extends lead
Four European CLO managers braved the market in August to price a new issues, the same number as August 2021

Global CLO league tables - August 2022 YTD
Global CLO league tables - August YTD

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

Emerald mezz magic brings Euro CLO market tighter
The European CLO market has found a better footing on the yellow brick road as Hayfin Capital Management brought spreads tighter on Friday with its new issue, Hayfin Emerald CLO X

Fidelity becomes latest manager to price Euro CLO with delayed draw single B
Fidelity International has become the latest European CLO manager to issue a delayed draw single B tranche as part of its new issue

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

Convertibles head for recovery after six months stuck in gridlock
Having suffered their worst first half on record, convertible bonds are due better performance if only on mean reversion

Bain Euro CLO details emerge with delayed draw single B
Pricing details have emerged on a Bain European CLO the manager priced last Thursday

CLO arrangers take down triple As to get European deals completed
European CLO arrangers are taking down large chunks of triple A paper to get deals over the line amid market volatility, according to market sources. Others, meanwhile, have committed to investing in triple As to secure future mandates

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