Blackstone revisits Reese Park with post-pricing CLO upsize
Blackstone Credit has become the fourth CLO manager this year to upsize a CLO post-pricing. Reese Park initially priced on 16 October at $408 million and is set to close on 30 November at $510 million, with the addition of new debt tranches paying lower rates of interest

York executes post-pricing upsize on CLO's floating rate notes
York Capital Management has upsized a US CLO between its pricing and closing dates, mirroring a route taken by PGIM in August

Five-year reinvestment CLOs now market standard after Kayne prices
Kayne Anderson has priced its second CLO post-covid and continued the market's decisive shift towards five year reinvestment periods

CLO pipeline: deal flow slows ahead of US election
Only two forthcoming new issue US CLOs have been added to the pipeline this week as the election slowdown hits credit markets. This comes after eight new issue US CLOs and five European CLOs have priced over the last ten days during the pre-election rush

York completes first new issue CLO of 2020
York Capital Managemend priced its first new issue CLO of the year on Friday, teaming up with Goldman Sachs on the $387.6 million deal named York CLO-8

CLO Census results: Citi comes out top but several banks make big leaps
Citi has been voted top in five out of the eight primary CLO categories as part of the 2020 Creditflux CLO Census, but BNP Paribas, Goldman Sachs, Jefferies and Natixis are among the banks that have made huge strides compared to last year

Alcentra and Black Diamond print unusual CLO refis with variable call structures
Black Diamond Capital Management and Alcentra have priced unusual CLO refinancings in the last few days. Uniquely among post-covid deals, the two managers have completed fixed-note refis where different tranches of their CLOs will have variable non-call periods

Octagon cements itself as most prolific refinancer of fixed-rate CLOs
Octagon Credit Investors teamed up with Goldman Sachs on Friday to refianance the $10 million double A-rated fixed tranche of its 2017 CLO Octagon Investment Partners 32

GSO edges past Redding Ridge in 2020 CLO new issues with US deal
GSO Capital Partners priced a new issue US CLO on Friday, bringing its total volume globally for 2020 ahead of Redding Ridge Asset Management for the first time since March

Four US CLO refis highlight diverging manager strategies
Four US CLO managers - Ares Management, GSO Capital Partners, Marathon Asset Management and Voya Alternative Asset Management - have each refinanced fixed-rate CLO tranches, with the four deals totalling $69 million in paper. But new strategies are beginning to emerge

Symphony prices unusual refi of CLO three years out of reinvestment
Symphony Asset Management has taken the unusual step of refinancing a tranche of a CLO three years after it left its reinvestment period. The deal, named California Street CLO XII, is a 2013 vintage CLO that exited reinvestment in October 2017

CLO pipeline: managers prepare to end quarter with a bang
CLO issuance is showing no signs of slowing down as spreads continue to grind tighter and election day draws ever closer

Fracking servicer FTS files for chapter 11 protection
Fracking servicer FTS International filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas Houston yesterday. The credit is not widely featured in CLOs with only nine managers holding $47.9 million of FTI’s term loans

Two managers team up with Goldman to refinance 2017 CLO tranches
Two CLO managers - Sound Point Capital Management and Sculptor Capital Management - yesterday teamed up with Goldman Sachs to refinance fixed-note CLO tranches from 2017 vintage CLOs. Both managers' fixed coupon fell by 137 basis points in the process

Ares prices second tightest CLO post-covid with 180.5bp funding costs
Ares Management has priced its second US CLO amid the coronavirus pandemic, securing the second tightest funding costs for a three-year reinvestment deal since the March sell off

Boutique Chicago manager returns to CLO primary after 16 months to reprice tranche
PPM Loan Management made a CLO primary market comeback on Tuesday after repricing a fixed-rate tranche from its inaugural 2.0 transaction PPM CLO 2018-1

Three CLO managers join rush to refi or reprice fixed rate CLO tranches
Three CLO managers - American Money Management Corporation, Teachers Advisors, and ArrowMark Colorado Holdings - have jumped on the fixed rate CLO refinancing or repricing trend

Black Diamond prices first CLO primary deal for over 12 months with refi
Black Diamond Capital Management has joined the fixed-rate CLO refinancing surge by teaming up with Goldman Sachs to refinance two tranches of Black Diamond 2016-1

Sound Point goes refi route for fixed notes of 2018 CLO
Sound Point Capital management is the latest CLO manager to refinance the fixed rate debt in one of its CLOs after working with Goldman Sachs to slash funding costs on Sound Point CLO XIX

CLO pipeline: a marathon for some, a sprint for others
Following a week in which there were three US CLO refinancings, one new issue CLO and one upsizing, three more US CLO managers are marketing latest new issue CLOs after varying times away

PGIM gives $150 million upsize to CLO that priced last month
PGIM has completed a rare feat by upsizing a US CLO in the window between its pricing date and closing date

Global CLO league tables - July 2020 YTD
Global CLO league tables - July 2020 YTD

CLO refi volumes reach $320 million this week as Fortress prices second deal
Fortress Credit Investors has priced a second CLO refinancing in the space of as many days, bringing the weekly refi volumes up to $318.72 million - the largest week for CLO refis by volume since February

PGIM prints new CLO on busiest day for issuance since pandemic outbreak
PGIM on Monday priced its second new CLO since the March sell off, coming on the busiest day for CLO issuance since the onset of the coronavirus pandemic

CLO pipeline: break's over - time to print deals
The CLO market has taken a slight pause after the independence holiday in the US last weekend, meaning the CLO pipeline includes a backlog