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European CLO triple As go tighter still as KKR prints at 83bp
4 years ago
Triple A spreads ground tighter in January with KKR’s latest European CLO -
January European CLO volume shoots to €2.9 billion as Five Arrows refis 2017 deal
4 years ago
It has been a busy start to the year for European CLO investors, despite new issues having been slow to get going. Five Arrows is the latest manager to take advantage by refinancing a 2017 vintage CLO - Contego CLO I -
TCW CLO tranches digitally refinanced for second time
4 years ago
TCW CLO 2019-1 AMR was digitally refinanced for the second time today following the third successfully cleared applicable margin reset auction -
HPS refis European CLO triple As at 64bp with six months of reinvestment left
4 years ago
HPS Investment Partners has refinanced its inaugural European CLO, Aqueduct European CLO 2017-1 -
Goldman markets refinancing of HPS's debut European CLO
4 years ago
Goldman Sachs is marketing a refinancing of HPS Investment Partners’ debut European CLO -
Golub upsizes 2019 CLO with five-year reset
4 years ago
Golub Capital Partners has teamed up with Bank of America to reset its 2019 vintage CLO named Golub 41(B)-R for an extra five years of reinvestment -
Seix CLO passes AMR refi test at second auction
4 years ago
Seix Advisors successfully executed a digital refinancing of its 2019 vintage CLO named Mountain View XIV on Thursday via the applicable margin reset (AMR) process -
PennantPark wraps up 2020 with second mid market CLO via GreensLedge and Capital One
4 years ago
New York-based direct lender PennantPark Investment Advisers priced its second CLO in late December, teaming up once more with GreensLedge and Capital One to issue the $300.7 million deal -
Fortress refis two tranches and amends another from 2018 bond-flex CLO
4 years ago
Fortress Investment Group has teamed up with GreensLedge and Natixis to cut the funding costs of three tranches of its 2018-vintage bond-flex CLO named FDF IV, -
Job opportunities with Prospect: CLO professional and CLO operations associate
4 years ago
Prospect Capital Management has released details of the following vacancies: CLO professional and CLO operations associate -
Single name shorters get improved entry point after conviction test
4 years ago
Returning market optimism has taken credit spreads back to ultra-tight levels. But for bears, this posits a better entry level for short trades, and the recent blow-out may have given strong pointers where to target them -
US CLO round-up: 23 managers wait in the wings after avoiding pre-election rush
4 years ago
CLO managers rushed to the primary market last week as they sought to lock in financing before the US presidential elections. This resulted in one of the busiest weeks in the primary market with 10 new issues -
[update] Beneath the triple C: theme parks take portfolios on downward ride
4 years ago
Seven corporate debt issuers were downgraded to triple C or below in September by Moody’s or Standard and Poor’s – hurting $2.16 billion of US CLO loans and €1.16 billion of European CLO portfolio. The pace of CLO loan downgrades to triple C has slowed steadily since the peak in April -
US CLO round-up: New Mountain gives a peek at better times
4 years ago
CLO primary issuance has produced healthy volume over the last few weeks with new issue paper totalling $7.9 billion since 21 September. -
CLO rally keeps primary market flowing for most prolific issuers
4 years ago
The rally in CLO liabilities in September has given fresh impetus to the primary CLO market, which has benefitted from almost six months of favourable market dynamics -
Octagon reaches milestone with CLO number 50
4 years ago
Octagon Credit Investors reached a milestone yesterday as it priced the 50th deal in its series of CLOs -
Global CLO round-up: fresh start for five year deals as market reopens
4 years ago
The CLO market is still producing deals at a good pace, with $2.6 billion of global issuance last week. Four new issue deals priced in the US with Intermediate Capital Group and NYL Investors pricing their first transactions of the year while CVC Credit Partners made it two and Barings three in 2020 -
NYL prints five-year reinvestment CLO with triple As at 130bp
4 years ago
New York Life Investment Management has brought the second five-year reinvestment CLO to market and placed its triple A notes at just 130 basis points over Libor -
78-item b-wic hits market as European CLO spreads dislocate
4 years ago
A mammoth 78 item European CLO b-wic totalling €130.7 million is on sale today at 9am New York time (2pm UK time) and is rumoured to come from an investor liquidating its portfolio -
Voya passes $1 billion US CLO issuance in 2020
4 years ago
Voya Alternative Asset Management has surpassed $1 billion CLO new issuance since the March coronavirus sell off began, joining the ranks of managers to print three transactions in this time -
NYL markets five-year CLO with spreads poised to move tighter than Q4
4 years ago
NYL Investors is marketing a five-year reinvestment US CLO with price guidance indicating CLO spreads are tighter than they were during the sell off in the fourth quarter of 2019. However, IG and HY credit are on different paths -
OC health check: August reports slow torrent of fresh breaches to a trickle
4 years ago
198 CLOs reported an over-collateralisation (OC) breach in August, only three of which were completely new breaches. This is a slowdown from July, when 230 deals suffered some kind of OC breach, according to the latest reports from CLO-i -
Matalan auction initial bids point to lower than expected CDS pay out
4 years ago
Early bidding in a credit event auction today to settle CDS referencing UK retailer Matalan indicates the final result will be higher than predicted by recent five-year quotes but roughly in line with modelled recoveries -
Neuberger Berman prints third largest and second tightest post-covid CLO
4 years ago
Neuberger Berman has priced its third new issue CLO of 2020, according to market sources -
iQor files for chapter 11 with CLOs holding $260 millon
4 years ago
17 CLO managers hold $263.1 million term loans of customer services provider iQor, which filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas today
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