CLO pipeline preview: resets and refis set to make a comeback
Despite a slow build up, the pipeline offers respite with many deals lined up to come to market

Euro CLO b-wic round-up: mezz is where the money is
This year, there has been one constant: junior mezzanine tranches have accounted for most listings on the secondary market

Regulation stifles SRTs, but banks and investors revel in quarter-four outperformance
Over the course of 2018 there was roughly €6.5 billion of issuance in the market for significant risk transfer (SRT) deals, sources say, with the last three months understood to be the busiest quarter on record

Ares and GSO carry unitranches over €1 billion mark
Flush with cash, European direct lending managers have finally passed the milestone one billion unitranche mark this quarter

CLO managers make arbitrage work by boosting leverage
Leverage in European CLOs is now averaging 9.6 times debt to equity versus 8.3 times in the first quarter of 2017

Loans recover slightly after late-2018 havoc
Secondary loan prices have ticked higher this year, although they are still some way off the levels reached before the fourth quarter slump. However, M&As are starting to fill the new issue pipeline
 

Basis between Japanese and syndicated CLO triple As may narrow, says Permira
The basis between Japanese anchor and broadly syndicated CLO triple As is likely to narrow, according to Permira Debt Managers

Global 2019 YTD CLO league tables at a glance
Global 2019 YTD CLO league tables at a glance

Guggenheim prices European CLO triple As at 114bp
Guggenheim Investments priced its second European CLO since its return to the market last year, teaming up with Citi to price Bilbao CLO II

Global CLO b-wic round-up: record February underscores secondary market value
A roaring February, bringing $2.615 billion listed in the US CLO b-wic market, ended with only a murmur last week

Ares prices European CLO as senior triple As edge wider by 0.5bp
Ares Management returned to the European primary market on Friday to price a new issue CLO via Citi

Redding Ridge crosses Atlantic for new euro CLO
Redding Ridge Asset Management - the capitalised manager vehicle (CMV) launched by Apollo Global Management - priced its first European CLO on Friday

Guggenheim and Citi team up again for Bilbao II CLO
Guggenheim Partners has once again mandated Citi to arrange its latest European CLO, Bilbao CLO II.

Ares markets mezzanine tranches as it nears European CLO pricing
Ares management has chosen Citi as the sole arranger for its new European CLO, Ares European CLO XI.

ICG ditches fixed triple As in new CLO price talk
Intermediate Capital Group is marketing an updated version of its first CLO of 2019, via Goldman Sachs. 

Global CLO b-wic round-up: momentum stalls in CLO secondary market
Only $589.94 million worth of assets were posted on CLO b-wics last week with a US public holiday disrupting the flow. But the trade rate was high with some $422.74 million of CLOs changing hands.

Tail wags dog as European CLOs' 108bp benchmark drags loans
European CLOs usually price on the back of where underlying loans are printing, but this year the reverse looks to be true

Euro CLO b-wic round-up: triple A notes boost volumes
At first glance, the European CLO secondary market has matched its US counterpart with b-wic volumes peaking last week

Price talk circulates on ICG's €410 million European CLO
Intermediate Capital Group is marketing its first CLO of the year, via Goldman Sachs, with pricing expected mid-week

Euro CLO round-up: Spire and CVC take roads less travelled
The European CLO market was reinvigorated this week as the two deals which priced brought something fresh to the table.

CVC becomes first large CLO manager to price short two-year reset in Europe
CVC Credit Partners priced Europe’s first CLO reset of the year yesterday, cutting the funding costs for 2014’s CVC Cordatus Loan Fund IV

Spire prices Europe's first CLO of 2019 with syndicated triple As
Spire Partners has priced the first European CLO of 2019 with widely-syndicated triple As, according to market sources

HPS returns to European primary CLO market with Aqueduct deal
HPS Investment Partners has priced its third new European CLO, following a €411.6 million deal arranged by Citi

Single B spreads edge tighter as Investcorp prices European CLO
Investcorp has entered 2019’s CLO primary market, pricing a new issue deal via Barclays