PGIM prints European CLO with triple As at 120bp
PGIM priced its latest European CLO, Dryden 91 Euro CLO 2021, today via Citi with triple As at 120bp

European CLO triple As set to hit 120bp with PGIM pricing today
PGIM is poised to price a European CLO today with sources indicating that the deal – Dryden 91 – is due to issue senior notes at 120 basis points. This is set to be the new benchmark, but it is almost 30bp wide of levels in mid-February  

Static Euro CLO triple A basis disappears as Palmer Square prints
Palmer Square Capital Management has printed its latest static European CLO, Palmer Square European Loan Funding 2022-2

Hayfin short-dated Euro CLO features loan tranche and StanChart as co-placement agent
Hayfin Capital Management has become the latest manager to print a shorter-dated, 3.13-year reinvestment European CLO

Investcorp triple As hit 110bp in first Euro CLO of year
Jefferies arranged the €451.9 million deal, named Harvest XXVIII, which Investcorp upsized from €400 million

Chenavari Euro CLO brings another co-placement agent role for Standard Chartered
JP Morgan was lead arranger and co-arranger on Chenavari’s latest €307.4 million deal, named Toro European CLO 8, with Standard Chartered a co-placement agent

Napier prints short-dated Euro CLO with low ramped warehouse
Standard Chartered picked up another co-placement agent role, while Jefferies was lead arranger on the upsized Henley CLO VII

Euro CLO cost of debt retraces to 2020 year-end levels as BofA revises reset forecasts
Blackstone Credit and CVC Credit printed the first new issues since the loan market wobble, while Bank of America has revised its refi/reset forecast down from €35 billion to €19 billion

Euro CLOs in price discovery mode as market awaits Blackstone and CVC deals
CLO market participants are awaiting new issues from Blackstone and CVC on Friday, in a rare week of no deals due to the market disruption caused by the mounting Ukraine crisis. But two managers are considering short-dated deals

Euro CLO league tables: primary issuance shuts down amid extreme market volatility
European CLO issuance initially picked up in February with €7.82bn in total pricings, compared to just €2.44bn in January, before extreme market volatility preceding Russia’s invasion of Ukraine halted the primary market.

European loans stumble after bright start to 2022
Jitters around inflation, interest rate hike expectations and escalating geopolitical tensions in Russia/Ukraine have created softness in the European leveraged loan market

CLOs at a glance
A listing of CLOs that have priced in the last month

Euro CLO triple As show signs of succumbing to macro volatility as €1 billion paper prints
Over €1 billion worth of European CLO paper priced on Wednesday with two new issues from KKR and Spire, alongside a reset from ICG

Euro CLO mezz widens amid macro concerns as Cairn prints new issue and Oaktree pulls reset
Cairn priced its latest European CLO new issue, Cairn CLO XV, with the widening non-IG tranches reflective of broader macro and geopolitical stresses

Euro CLO single Bs widen to March 2020 levels as Partners resets
DMs on the Penta 3 reset were not disclosed but wider volatility in the market has led single B coupons on Penta 3’s deal to blow out to 983bp. But the CLO's senior tranche remained in line with guidance

Banks join fight against slow loan settlement in mini-win for CLOs
Several developments are in the works to tackle painfully slow loan settlement times in Europe, with Goldman Sachs, JP Morgan, Clifford Chance and the Loan Market Association among the firms looking to drive change

Euro CLO mezz widens but seniors hold firm as BlueBay and Sound Point price new issues
BlueBay Asset Management and Sound Point Capital Management became the latest CLO managers to price European new issues

Acer Tree flowers with debut European CLO
The CLO market welcomed a new manager on Friday as Acer Tree Investment Management priced its inaugural deal via Barclays

HPS resets 2017 CLO bought from Bardin Hill
HPS Investment Partners has reset and upsized a 2017 CLO it acquired from Bardin Hill Investment Partners in 2021

PGIM becomes third manager this year to reset 2015 Euro CLO
PGIM has paired with Morgan Stanley to reset its 2015 deal Dryden 39

European CLO benchmark could drop to 90bp for triple As as Cairn markets new issue
The European CLO triple A benchmark look set to drop to 90 basis points over Euribor this week, following an updated price guidance on Cairn’s latest new issue

Sculptor prices European CLO and establishes 92bp as triple A benchmark
European CLO new issue floodgates have opened with Sculptor Capital Management’s European CLO IX the latest deal to price, following the first four new issues of the year to price end of last week

Euro CLO league tables: Dry January means focus switches to refis and resets
It is healthy to take a break after what was a bumper 2021. And Europe's CLO market has taken that to heart by abstaining from new issues and instead reworking older CLOs

Global CLO league tables - January 2022 YTD
Global CLO league tables - Jan YTD

JP Morgan prints Palmer Square and Neuberger Berman Euro CLO new issues
JP Morgan brought just over €800 million of European CLO paper to the market on Thursday, partnering with two of the market's newer managers Neuberger Berman and Palmer Square for new issues