BlackRock shaves top but widens rest of stack with Euro CLO reset
BlackRock has reset a 2016 vintage CLO, pricing the triple A tranche inside the average for new issue European deals but widening lower rated tranches from where they refinanced in 2019

Permira slashes CLO funding cost by 20.1bp with partial refi
Permira Debt Managers joins the growing list of managers to partially refinance a 2018 CLO. Morgan Stanley arranged the.€274.8 million refi 

CLO double Bs hit 2021 wides as Bain injects equity into 2014 European reset
CLO double B reset levels tightened in February but have since widened to 710bp

Euro CLO triple Bs widen to 375bp as manager prices second new issue in four months
Euro new issue CLO triple Bs have widened since the start of the year, averaging 344bp in March, up from 320.3bp in February and 306.6bp in January, according to Creditflux data  

European CLO repricing volume passes €14bn as ICG resets 2019 deal
 Intermediate Capital Group becomes the latest CLO manager to reset a deal, having reworked its 2019 vintage St Paul’s CLO X

KKR includes fixed-to-floating rate tranche with cap in European CLO reset
KKR has become the latest manager to insert a triple A loan tranche and a fixed-to-floating rate tranche as part of a European CLO transaction

Axa IM combines single As in European CLO refi
Deutsche Bank arranged the € 274.7 million transaction, which cuts cost of debt by 31.8 basis points

CLO reissues return to Europe after two years as Five Arrows reworks 2018 deal
Five Arrows paired with Morgan Stanley on Friday to reissue its 2018 vintage deal, Contego CLO VI

Blackstone and Hayfin get Euro CLO new issues rolling as single Bs diverge
Blackstone paired with BNP Paribas for Carysfort Park, while Hayfin followed the yellow (or rather gold) brick road to pair with Goldman Sachs on Hayfin Emerald CLO VI

Creditflux and Debtwire unveil CLO stressed and distressed market analysis
The first edition of the CLO Distressed Roundup, a joint-report by Creditflux and Debtwire, takes a deep dive into the distressed and stressed loans held by CLOs as of December. Our report shows CLO portfolios are 10.2% stressed and 4.17% distressed, lower than not only the nadir of the pandemic in May, but also before the pandemic

CLO pipeline: busy year, so let's take time to reset
The US CLO market this year has been dominated by new issues and refinancings, but now is the time of the reset judging by this week’s pipeline

Sound Point breaks through Europe's five-year reinvestment barrier to set CLO benchmark
European CLO triple As have reached new tights with Sound Point Capital Management pricing triple As at 77 basis points over Euribor

Big US firm steps up as European loan triple A CLO buyer
A large US firm that had $5.5 billion of CLO investments at one point has renewed appetite for CLOs and is eyeing European CLO tranches rated triple A and structured as loans

Spire inserts triple A loan tranche in European CLO reset
Bank of America arranged the €411.4 million transaction, which includes split triple A, pari-passu tranches in loan and note formats

Euro CLO league tables: Refi return spurs European CLOs towards record volumes
A record shattering month as refi wave continues

2020 European CLO absentee hits 80bp triple A tights while mezz trails wider
Barclays arranged the €407.5 million transaction on Friday

European CLO mezz drifts wider as Sculptor and GLG reset and refi
Sculptor has reset its inaugural European CLO, Sculptor European CLO I, via Bank of America

US bank emerges as big buyer of CLO loan tranches
A US bank has taken an unusual approach to investing in CLO tranches on its way to becoming one of the big buyers of US triple A-rated CLOs this year

European CLO rollover rate slumps amid refi/reset surge
European CLO investors' rolling rate into refinancings and resets has dropped since the start of the year, with the huge pipeline, a flight to quality and caution about widening spreads all playing a part

Euro CLO mezz spreads leak wider but seniors hold firm as ICG resets
European CLO mezzanine reset spreads have widened out slightly this week, highlighted by Intermediate Capital Group’s reset of St Pauls CLO VI via JP Morgan

People underestimate the impact they can have with ESG
Muzinich's Kirsten Bode takes our credit quiz

A brighter year ahead
Panellists on Creditflux’s CLO webinar described how CLO spreads are close to historic tights, ESG is entering the docs and managers have more flexibility with work-outs than ever before

NatWest Markets prepares for CLO arranging comeback
NatWest Markets is planning its return as an arranger of European CLOs, officials tell Creditflux

European desk staffing could limit CLO repricings
.The sheer volume of European CLO resets and refinancings has left market participants questioning the market’s ability to handle the business

European CLO leverage hits double-figures
European CLO leverage has increased this year, from an average of 9.4 debt-to-equity in 2020 to 10.3 times in 2021, according to Creditflux data.