European CLO spreads flare wider due to policy uncertainty and weaker relative value
ANALYSIS: Increased worries about policy uncertainty have started to weigh as tiering becomes more evident in the lower mezz  

BlueBay prices its first Euro CLO for 2025 with a new issue
The transaction was the first European pricing activity for the manager in five months  

Rockford Tower adds to rush of European new issues
The upsized half-billion-euro deal from the King Street Capital Management affiliate was its first Euro pricing activity for the year  

KKR prints tight with its triple As in new European issue
The manager’s first new issue of 2025 saw strong demand for its triple As, but reflected a broader widening trend in the lower mezz  

CarVal prices first Euro deal in eight months
The deal priced relatively wide in the mezz compared to other recent Euro transactions  

Bridgepoint prints first new European CLO of 2025
The vanilla deal follows an earlier reset from the manager in January  

Brigade prices first new European issue in 10 months
The latest print in the manager’s Armada series was the tightest European deal so far this month  

Nuveen prices latest new Symphony CLO
It’s the first new US BSL issue from the manager this year and its fourth deal overall in 2025  

Arcano readies to price first European CLO next week and debut as a new manager
The Madrid-based manager is currently marketing a EUR 406.5m deal via Jefferies  

European spread narrowing sees historically tight deals reset
Both CVC and Five Arrows have reset 2018-vintage transactions  

HPS, Capital Four print 2019-vintage Euro resets
Both deals widened spreads on their triple As and increased their overall cost of funding as part of the repricings  

PGIM prices first new European deal in more than two years
The deal is the fourth offering from PGIM, following three resets, since the US manager resumed printing European deals in November after an extended interregnum  

Blackstone kicks off Euro CLO issuance program for 2025 with tight new issue
Manager's Ravensdale Park CLO priced as the second-tightest European deal so far this year  

Tikehau’s first European CLO of 2025 prints wider in lower mezz
The French manager’s latest deal exhibited some evidence of weakening demand from mezz investors  

New Bain Euro issue prints wide of guidance in mezz
The deal suggests investor demand is weakening in the middle mezz, even as triple A demand remains strong  

February global CLO issuance on track to beat 2021 record
Monthly global CLO issuance has passed the 100-deal mark in February, with a week of dealmaking still to go

Alcentra returns to market with large new Euro issue
The deal is the first new European CLO from the manager since September  

Capital Four markets reset of inaugural European CLO
The attempted reworking of the 2019-vintage deal is guiding its triple A paper at between 120bps-123bps over Euribor  

Oaktree prices tight as it gets off the mark in Europe for 2025
The deal comes amongst a suite of deals that indicates European CLO spreads are currently in the midst of a rapid tightening movement    

Chenavari and Cross Ocean each price first CLOs in eight months
The European managers both priced new issues with triple As at 125bps over Euribor  

Sound Point’s latest CLO dramatically slashes European tights to lowest in four years
The transaction was the first full-stack European deal to achieve a total cost of debt below 179bps over Euribor in four years  

Bain markets new CLO with price talk at fresh European AAA tights
Hot on the heels of a new year-to-date triple A tight for European CLOs, Bain Capital Credit is attempting to drive spreads even lower  

New CVC issue cuts Euro AAA tight by two basis points
CVC’s first new Euro deal of the year priced triple As at 120, two basis points inside the previous low – but its overall cost of funding remained slightly wide of the tightest for the year

European CLO Rankings - January 2025
A busy January saw EUR 5.6bn of issuance in Europe, with Jefferies and HPS leading the European CLO rankings

Canyon prices its third CLO since entering Europe
Canyon Partners has priced its first European CLO since April last year