CLO pipeline: 2020 absentees join new issue rush
The CLO pipeline is growing by the minute as managers prepare their first new issues of the year after varying lengths out of the market

US CLO manager rekindles European CLO ambitions as it launches debut 2.0
A large US CLO issuer has revived its European CLO plans, more than two years on from its failed attempt

Partners lines up first European CLO reset in 11 months
Partners Group is laying the groundwork to print one of the first CLO primary transactions in Europe of 2021, having teamed up with BNP Paribas to issue a reset of a 2018 vintage deal

Euro CLO league tables: Killer Bs: Barclays and Blackstone cause buzz to lead new issuance
The coronavirus pandemic-induced volatility had a marked effect on the European CLO market in 2020 with total issuance falling by €18.5 billion and new issuance €7.8 billion lower than 2019’s figures

Global 2020 CLO league tables
Global 2020 CLO league tables 

CLO 2021 outlook: back to the 'old' normal with volumes, spreads and structures to revert to pre-covid levels
Predictions went out the window this year because, well, who in December 2019 could have foreseen a pandemic devastating lives and wrecking financial markets? But the emergence of vaccines to combat the threat of the coronavirus has spurred a rally in credit over the last month. And CLO researchers expect a resurgence in 2021 with US new issue CLO volumes predicted to hit the $80-110 billion range, according to reports analysed by Creditflux.

CLOs at a glance (January 2021)
A listing of CLOs that have priced in the last month

Signs of new dawn as tranche volumes smash past $250bn
Last year, people formed fresh habits as they adapted to the coronavirus pandemic. Similarly, in credit, a breakthrough year for the CDS tranche market is leading participants to believe that elevated tranche volumes are here to stay

Direct Lending Perspectives: deal flow gets back on track
Direct lending deal flow popped back towards pre-pandemic levels by the end of Q3, raising hopes that the European middle market is back on its feet after six months were volumes had slumped

It's all relative: Euro CLO mezz rallies to follow month-long IG/HY compression
European credit suffered this week with Brexit talks between the UK and the EU dragging on and both sides conceding that a trade deal is unlikely to be reached by Sunday’s deadline. But European CLO tranches have held up reasonably well with mezzanine spreads tightening by almost 13% in December

Capital Four prices second European CLO with triple As at 105bp
Capital Four priced its second ever European CLO today named Capital Four CLO II. Barclays arranged the €356.2 million transaction

CIFC prices tightest four-year euro CLO since covid sell-off
CIFC Asset Management priced the tightest European CLO with four years of reinvestment post-covid on Thursday, teaming up with Barclays to issue the €368.8 million deal named CIFC European Funding CLO III

Global CLO league tables - November 2020 YTD
Global CLO league tables - November 2020 YTD

Euro CLO league tables: Barclays heads close race for new issues
Bridgepoint became the fifth European debut manager in 2020 when it teamed up with Barclays to price Bridgepoint CLO I on 13 November. The €301.85 million deal featured triple A notes at 121bp over Euribor, 11bp wide of market tights

Lower mezz grinds tighter with Blackstone's first European CLO since rebrand
Blackstone Credit has priced its first European CLO since it rebranded from GSO Capital Partners last month. Bank of America arranged the new €323.5 million deal, named Marino Park CLO

Invesco completes first European CLO since February
Invesco has printed its first CLO in Europe since the March sell off, teaming up with Barclays to issue the €305.4 million deal named Invesco Euro CLO V

Alcentra returns to European primary CLO market after 13 months
Alcentra has priced its first European CLO new issue this year following a 13 month hiatus. Bank of America arranged the €303.1 million transaction

Capital Four markets four-year European CLO
Capital Four is marketing its second European CLO, just over a year after making its debut in CLO management

CLO triple A benchmark hits 105bp in Europe as Carlyle returns
.Carlyle Group has priced its first European CLO post March-sell off, setting a new benchmark for triple As

European CLOs rise in secondary with Sound Point deal up 4.25 cents from issuance
Double-B rated CLO tranches received bids in the high 90s on Wednesday with Sound Point Capital Management’s debut European CLO attracting the highest cover of 98.25 cents on the euro. But the CLO rally is lagging moves in corporate credit  

Chenavari returns to CLO primary with first new issue in 16 months
Chenavari has returned to the CLO primary market with its first new issue deal since July 2019

European triple As tighten to 106bp with CVC benchmark CLO
CVC Credit Partners priced its latest European CLO on Friday, securing the tightest triple A print since the March sell off

CLO pipeline: LCM switches arranger to complete deal and join issuance surge
Over $3.5 billion of global CLO issuance priced last week and managers in all three CLO markets are taking advantage of tightening spreads across the capital structure after three major covid-19 vaccine breakthroughs and increased confidence since the US presidential election

Bain prints first European CLO of 2020 via Goldman
Bain Capital has priced its first European CLO of the year, via Goldman Sachs

CLO pipeline: New issuance pause ends as managers look to gain from rallying spreads
It is two and a half weeks since the last US CLO new issue priced, but that is set to change and Bridgepoint’s debut European transaction on Friday brought an end to Europe’s own two-and-a-half-week primary break