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

GoldenTree prints tightest new European CLO since October
GoldenTree’s second new European deal of 2024 priced as the tightest new Euro CLO since October, arranged by Barclays 

European CLO market expects to maintain deal momentum far into December
European CLO market is bracing for a unusally busy December with deals expected from HPS, Polus and PGIM

Arcano Partners launches European CLO platform with EUR 150m of captive equity
Spanish firm Arcano has announced it is launching a new CLO platform and has raised captive equity to back issuance 

BlackRock returns to European issuance with first CLO in 19 months
BlackRock has priced its first European CLO since April of last year arranged via Goldman Sachs  

Palmer Square hits 10 Euro deals for the year with latest reset
Palmer Square has reset a 2023-vintage that priced notably tight in the lower mezz   

Sculptor continues flow of European dealmaking with new CLO
Sculptor has priced its second new European issue of the year via BNP Paribas  

Rockford Tower prices Euro and US resets on same day
King Street Capital Management affiliate Rockford Tower echoed KKR and Permira in pricing dual European and US CLOs at the end of last week

KKR resets European CLO with increased cost of funding
KKR has priced a second reset of Avoca CLO XVI, a 2016 deal reset in 2018, in a transaction that priced tightly but still saw the overall cost of funding jump out

M&G resets comeback European CLO
The reset of Margay CLO I slashed the weighted cost of funding to Euribor plus 211.55bps, a tightening of just over 74bps from the previous level

Permira prices European new CLO as it debuts as a manager in the US
Permira has priced its second new European issue of the year in line with market as it makes waves overseas with new debut deal  

2023-vintage UBS reset slashes cost of debt by over 100bps
Deal saw a mix of spreads coming in both wider and narrower than guidance 

Mezz tiering takes hold in Europe as investors take their pick of deals
Manager performance in elevated rate environment is coming under more scrutiny from investors   

New Invesco Euro CLO prices wide of recent market levels
Invesco’s first new European deal in six months saw its triple-As priced at Euribor plus 134bps   

Barings prices Europe’s first ever private credit CLO
Barings and BNP Paribas have priced Europe’s first ever private credit CLO, achieving a historical feat that had eluded the region so far

European CLOs hit another BB tight with latest Trinitas print
Trinitas’ latest European deal recorded a new year-to-date low for European double-B spreads, slicing 10bps off the previous tight

Partners prices new European CLO
The new deal from Partners Group adds to an increasing number of European transactions pricing triple-As at 128bps over Euribor

Long lock-ups and quick entry tempt three new firms into CLO management
Regardless of the ebbs and flows of the market, and whether times are volatile or calm, the CLO market can count on more shops wanting to enter the space

CLOs ‘enjoy’ yet another crazy month
Strong CLO deal flow continued in October. The month came in as easily the busiest so far this year.

Onex completes post-pricing upsize in European market first
In a first for the European CLO market, Onex has completed a post-pricing upsizing of its latest European deal, Onex Credit Partners Euro CLO 2024-11

UBS looks for significant tightening as it markets 2023-vintage Euro reset
UBS is currently marketing its second European CLO in two months, a reset of Madison Park Euro Funding XIX, a 2023-vintage issue

Voya leaves it late to price first new Euro issue of 2024
The steady flow of European CLO dealmaking continued with the pricing of Voya Euro CLO VIII, arranged by Jefferies and HSBC

PGIM prices wide of mezz guidance in return to European primary issuance
The US manager’s first European deal in two years followed the recent trend and showed some weakness in the mezz compared to initial price talk

Euro reset sees KKR extend one of its longest-running deals
The latest reset of a 2014 vintage CLO by KKR saw a hefty cost-of-debt increase, as a prior partial refi in 2019 had locked in extremely tight spreads