Tariffs kill off year-long CLO boom
The global impact on CLOs of President Trump’s tariffs was plain as volatility increased and spreads blew out. But managers helped keep US issuance steady with print-and-sprint deals

CLOs at a glance – April 2025
Our list of recent CLO pricings globally

Palmer Square prints new US BSL CLO with triple As at SOFR +136.33
Spreads in Palmer Square CLO 2025-2 are well outside those of Palmer Square CLO 2025-1

Redding Ridge reprices first Irradiant CLO since takeover
Apollo’s CLO management subsidiary priced a reset of a two-year-old BSL deal, moving the short-dated issue to a standard-duration 2Y/5Y timetable

Trinitas resets short-dated US deal on five-year timeline
The deal saw the triple As on the late 2023-vintage transaction tighten by 24bps

AGL issuance for the year passes USD 4.5bn with latest reset
The repricing of the 2023-vintage AGL CLO 24 is the manager’s ninth deal of 2025

Vibrant resets US CLO on short-dated timetable
The two-year-old Vibrant CLO XVI was repriced on a 1Y/3Y schedule, with the senior triple As at SOFR plus 155bps

Birch Grove prints its first short-dated deal for 2025
Birch Grove CLO 14 priced as a 1Y/3Y issue with the top of the stack at SOFR plus 148bps

Oak Hill goes short for newest US CLO
The 1Y/3Y issue priced its senior triple As at 133bps above SOFR

PGIM adds small equity upsizing in US CLO reset

The manager reset the 2023-vintage deal with triple As tightened by 35bps and a reduction in leverage

Napier Park prices second new issue in eight days
The triple As for Regatta 34 Funding priced five basis points inside the manager's previous deal from a week beforehand

HPS issues third new US BSL CLO for 2025
The manager priced the half-billion-dollar transaction on Friday with triple As at SOFR plus 143bps

Barings prices reset with first BSL deal since February
The repricing of the 2023-vintage CLO was the manager’s fifth deal of the year, taking its total issuance for 2025 to USD 1.94bn

Blackstone prices static BCRED CLO
The transaction is the first non-reinvesting deal to price under the BCRED shelf

AXA IM issues first CLO since announcement of US tariff regime
The manager's second new US BSL deal of the year has emerged as a USD 508m offering

Macquarie issues first deal, marking its debut into US CLO management
The Australian-headquartered firm has entered the CLO management space under the leadership of Vivek Bommi

Anchorage prices first new US issue of 2025 with short-dated CLO
The 1Y/3Y transaction, valued at USD 400m, priced its triple As at SOFR plus 162bps

KKR prices new short-dated US CLO
The USD 403m print was the manager’s first new US deal since November

Napier Park prices latest new CLO with triple As at SOFR plus 145bps
The USD 400m transaction priced the top of the stack wide of other new issues from Allstate and Carlyle

ZAIS issues full refi of short-dated 2023 CLO
The repricing saw the senior triple As tighten in by 64bps from their previous spread level

Silver Point issues third BSL CLO of the year via Mizuho
At SOFR plus 152bps, the triple As priced wide of current market benchmarks

Two-year-old Palmer Square reset narrows triple As by 42bps
The reset of the 2023-vintage BSL CLO priced its triple As at 145bps

Carlyle prices new issue US CLO at SOFR plus 128bps
The spread at the top of the stack was 5bps outside the manager's last new issue a month earlier

Allstate prints first new US CLO since January
Senior triple As for the issue priced at SOFR plus 135bps, in line with the current market

Apollo Debt Solutions BDC prices its debut CLO
The private credit transaction from the fund, which is run by Apollo Credit Management, is the market’s second debut CLO pricing in three days