Europe begins 2025 CLOs with a flourish as triple-A spreads trend toward mid-120s
The European CLO market is starting 2025 with a heavy deal pipeline and spreads that reflect strong investor demand

European CLO rankings - FY 2024
Full year CLO manager and arranger rankings for European CLOs in 2024

HPS upsizes latest European new issue
HPS Investment Partners has increased post-pricing its latest new-issue European CLO – Aqueduct European CLO 10 -- by EUR 153.4m to EUR 610.8m

Euro CLOs consolidate in 2024 with an eye to future growth
Boosted by a strong end-of-year performance, the European market set a new record for gross issuance in 2024

Brigade wraps up 2024 with third Euro reset
Brigade Capital Management has reset a 2019-vintage European CLO via Morgan Stanley  

BNP Paribas forecast about USD 200bn of new CLO issuance in US and around EUR 50bn for Europe
BNP research analysts anticipate that CLO spreads will tighten over the first half next year, ahead of potentially widening in the second half  

Hayfin prints short-dated Euro deal to round out the year
Hayfin has priced a CLO that marks the first short-dated primary market activity in Europe since early November  

Voya upsizes November European CLO print with tap issue
Voya has increased the size of a new European CLO it priced in November by 37.5%, to just under EUR 562m  

December deal downpour shatters issuance records in Europe
December sees the most issuance for the month on record as reset activity jumps to the most this year

Barings puts together first ever European middle market CLO
It’s been a long time coming, but the successful pricing last month of the first European private credit CLO marked a milestone in opening up the region to one of the CLO market’s most dramatic growth stories in recent years.

CLOs at a glance
Our list of recent CLO pricings globally

ICG nabs a second Euro CLO deal before year end
ICG has reset its Euro CLO 2022-1 with a moderately tightened overall cost of funding

Fidelity prices Euro CLO offering, continuing a parade of December resets
Fidelity has repriced a deal originally issued by MeDirect Bank in 2019, arranged by JPMorgan  

CVC slashes cost of funding by more than 100bps on latest Euro CLO reset
The reworking of CVC Cordatus Loan Fund XXVI tightened spreads through the stack on the 2022-vintage deal

Five Arrows tightens up mezz with 2019-vintage Euro CLO reset
The third European reset of the year for Five Arrows Managers saw the triple-As price at 133bps over the base rate  

Partners makes it seven Euro deals for the year with Penta CLO 7 reset
Partners Group was among the European managers to end the year on a high note, pricing Penta CLO 7 via Citi – the manager’s seventh European deal of 2024

KKR’s latest Euro CLO reset records tightest overall funding cost of 2024
KKR has priced the tightest long-duration European reset of 2024 measured by overall cost of funding with a 2018-vintage issue arranged by Jefferies

Tikehau slashes funding cost on latest Euro reset
Tikehau Capital reset a late-2022-vintage Euro CLO achieving a dramatically lower cost of debt on Friday, as managers rushed to price deals before the holiday season

Blackstone prints new-issue European CLO
Blackstone has priced Waterstown Park CLO, its sixth new European issue of 2024, in a EUR 405.3m transaction  

Carlyle resets 2020-vintage CBAM Euro deal
Carlyle has reset a European CLO, sized at EUR 298.425m, that was originally priced by CBAM in October 2020 

HPS prints new vanilla deal as European market maintains momentum
A new EUR 457.4m BSL CLO from HPS continued the unusually strong bout of December issuance momentum

Alcentra prints Euro CLO reset with equity injection
Alcentra has reset a 2018-vintage transaction achieving a weighted cost of debt of Euribor plus 205.2bps, in line with the market but a sharp increase on the pre-reset levels

Polus returns to market with upsized new Euro CLO issue
Polus has upsized its CLO, second new European issue of the year, to EUR 457m via Jefferies  

European BSL CLO Rankings - November 2024
November was the busiest month of the year for the European CLO market according to our latest league tables, with EUR 9.4bn of total issuance 

JPMorgan forecasts strong new CLO supply, 120bp AAAs, in 2025 outlook
JPMorgan's CLO research team has forecast ongoing strong US CLO new issuance for next year to some USD 180bn in 2025 while Europe is also expected to maintain its record new-issue performance with some EUR 45bn in new issuance next year