PGIM revises price talk as European CLO spreads jump wider
Price talk has been hiked up for PGIM’s forthcoming European CLO, Dryden 74 Euro CLO 2018 following coronavirus-related market volatility    

Global CLO league tables - February 2020 YTD
Global CLO league tables - February 2020 YTD

Price talk for PGIM European CLO suggests triple A-spread tightening
Triple A spreads could be about to tighten in Europe’s CLO market as PGIM markets its latest new issue deal, Dryden 74 Senior Loan Fund, with price talk in the range of 92-95 basis points over Euribor

CLO pipeline: new loves kindle as managers finish with old flames
US new issue CLO paper is back on the agenda after a January dominated by refinancings. 14 new deals are in the pipeline, but refis are holding steady with eight of these in the works. CLO refinancings have been the front runners this year, with 22 CLO refis versus 12 new US CLOs. 

CLO pipeline: make some noise for repricings
CLOs may be a bit late to the spread-tightening party, but a hoard of CLO repricings is aiming to make up for it by sheer volume

Euro CLO league tables: three new issues make January just right
Three European managers braved the waters in January to kickstart the CLO primary market

Apollo saves 20bp on triple A print by going for short-dated euro CLO reset
Apollo Global Management yesterday priced a short two-year euro CLO reset with the triple A notes printing 20 basis points tighter of regular way CLOs, according to market sources

Partners takes advantage of single B tranche rally with European CLO pricing
Partners Group priced its latest new issue CLO in Europe yesterday as single B spreads fell to their tightest point since year-end 2018

Apollo goes short-dated route for forthcoming European CLO reset
Apollo Global Management is marketing a short reset of its 2014 CLO named ALME Loan Funding III - but price talk is inside a new issue of similar tenor

Partners targets January pricing date for new European CLO
Partners Group is marketing a new issue European CLO, known as Penta CLO 7, via Goldman Sachs

PGIM resets European CLO to cross €2 billion in 2019 issuance
PGIM reset its 2015 European CLO today, Dryden 35, via Goldman Sachs. It takes the PGIM’s 2019 European CLO volumes pass €2 billion

Senior European CLO spreads edge wider as PGIM markets reset
PGIM is marketing a reset of a 2014-vintage European CLO with price talk on the floating rate senior notes at 98 basis points, say market sources

KKR bucks trend to refinance older vintage CLO from 2014
KKR Credit partially refinanced its 2014 vintage European CLO named Avoca CLO XI yesterday, according to market sources

Capital Four makes CLO market entry with debut transaction
Capital Four Management priced its inaugural CLO this morning, becoming Europe’s eighth debut manager of 2019

CLO pipeline: Capital time to debut in Europe as liability spreads drop
CLO managers are showing no signs of slowing down, as a further 16 US and five European new issue CLOs, including Capital Four's CLO management debut, appear in the pipeline

New manager premiums collapse as Capital Four markets first CLO
Capital Four Management has launched its first CLO and is marketing the deal via Goldman Sachs, according to market sources

Redding Ridge prices new European CLO with record 158.1bp funding costs
Redding Ridge Asset Management has priced its latest European CLO offering via Goldman Sachs, RRE 3 Loan Management, and in the process it has produced the CLO with the tightest funding costs this year

Any takers for illiquid European CLO equity?
The investor base for European CLO equity is far smaller than for US CLO equity. But for those with the mandate, and willing to stomach the illiquidity, valuations have been strong this year.

Redding Ridge does away with single Bs as it markets European CLO
Redding Ridge Asset Management is doing away with single Bs once again as it brings its third European CLO to market this year, known as RRE 3 Loan Management

ICG becomes third CLO manager to reset in Europe in one week
European CLO reset volumes last week were higher than for the whole year running up to it, as Intermediate Capital Group on Friday became the sixth manager to price a reset on the continent in 2019

ICG goes short-dated route as it lines up 2013 European CLO reset
Intermediate Capital Group is lining up a reset of its 2013 CLO named St Paul’s II, looking to optimise the term curve by renewing the reinvestment period for just two years

Ares and Barings lead the way as triple A spreads regain lost ground
CLO triple A spreads in Europe have reached their tightest point in months, with two deals issuing their first pay notes at 108 basis points over Euribor

Barings targets 110-111bp print on forthcoming European CLO
Barings is looking to join the exclusive list of European CLO managers to issue triple As around 110 or 111 basis points over Euribor

GoldenTree prices new issue European CLO as continental volumes pass €2 billion
GoldenTree Loan Management priced its latest European CLO offering yesterday as July new issue volumes on the continent passed the €2 billion mark

CLO pipeline: Barclays and Goldman branch out to mid market
The US CLO pipeline has been full in recent weeks and this continues, with 18 new issue CLOs and a further nine refinancings appearing this week.