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MJX pushes tighter with third CLO transaction of 2021
4 years ago
MJX Asset Management priced its third CLO primary transaction of the year on Thursday, teaming up with Jefferies to refinance four senior tranches of its 2018-vintage CLO named Venture 33 -
Large US manager launches CLO equity fund
4 years ago
A US manager headquartered in Atlanta has raised its latest CLO equity fund and collected at least $133.6 million of capital for the strategy -
Trinitas locks in triple As with $736.5 million CLO reset
4 years ago
Trinitas Capital Management, the CLO manager of Dallas-based WhiteStar Asset Management, has priced a $736.5 million reset of its 2017-vintage deal Trinitas CLO VI via JP Morgan -
Global CLO b-wic round-up: US lower mezz trades strong, but European piece softens
4 years ago
CLO investors have had no chance to catch their breath after a historic 2020 as US CLO secondary volume reached $3.3 billion and European secondary listings topped €1 billion in January -
AMMC, Marble Point and Partners Group each price US CLO refis
4 years ago
Three CLO managers have priced CLO refinancing transactions, with the three deals combining to a total of $1.03 billion. It brings the total volume of US refi paper in 2021 to $4.94 billion since the new year - just $180.9 million short of total post-covid refis in 2020 -
Refis, resets and reissues back in vogue as four US CLO managers print deals
4 years ago
Various shades of CLO refinancings dominate the US CLO primary market with four deals - two refis, a reset and a reissue - printing on Wednesday for a total volume of $1.1 billion. This surpassed all US CLO refinancings in the six months from March to September last year -
Beneath the triple C: 13 CLO loans take a dive but defaults subside to a ripple
4 years ago
22 corporate debt issuers were downgraded to triple C or below in November and December by Moody’s or S&P, out of which 13 can be found in CLO portfolios – hurting $4.55 billion of US CLO loans, €1.87 billion of European CLO portfolios and almost $80 million of middle market CLOs loans, according to CLO-i -
MJX prints first reinvesting CLO of the year
4 years ago
MJX Asset Management has become the first CLO manager to print a reinvesting new issue transaction in 2021, teaming up with Jefferies as lead arranger and Bank of America as co-arranger on the $507.3 million deal, named Venture 41 -
Mid market CLO league tables: late November surge revives mid-market
4 years ago
After a quiet start to the month the mid-market sprung to life on an eventful 20 November when three deals priced -
Bulls give up some gains as IG banks and energy lead market wider
4 years ago
In a cautious opening to the week, credit spreads are edging wider against a backdrop of faltering oil prices but marginally strengthened stocks -
Owl Rock prices tech-focused CLO
4 years ago
Owl Rock Capital Partners has priced a rare middle market CLO backed by loans to companies in the technology sector -
OC health check: 41 CLOs heal their breaches
4 years ago
147 CLOs breached an over-collateralisation test in October, down from 183 in September. 41 CLOs that breached an OC test in September passed all OC tests in October, most of which had October payment dates -
OC health check: CLOs wake up when September ends
4 years ago
September showed a slight but clear improvement in CLOs’ over-collateralisation test results as 182 CLOs breached an OC test during the reporting period, compared to 198 in August. -
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 -
Global CLO b-wic round-up: dealers get involved amid rally, but dispersion persists
4 years ago
The CLO secondary markets returned to form last week with $716.2 million of US CLO bonds and a further €306.5 million of European CLO paper listed. Although for both markets over half of the total volume listed came from Thursday’s scheduled b-wics -
Black Diamond prices first CLO primary deal for over 12 months with refi
4 years ago
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 -
Global CLO b-wic round-up: US CLO triple As finally rally while European investors go ‘all in’
4 years ago
A huge supply of $731 million of US CLO triple A bonds pushed US CLO secondary volumes to just shy of $1.5 billion last week -
Global CLO b-wic round-up: Palmer Square sets highest cover as double B curve inverts
4 years ago
Palmer Square and MJX set the CLO secondary market trading range, but pickings in Europe were the slimmest they have been in almost five months -
US CLO league tables: refis return as Apollo and Citi maintain leads
4 years ago
US CLO monthly issuance rose above $8 billion in July for the first time since the coronavirus pandemic wreaked havoc across the globe -
OC health check: breaches start to take toll on July payment dates
4 years ago
37 CLOs reported an over-collateralisation test failure last week, but this was a falling percentage of those publishing trustee reports and none were fresh breaches -
OC health check: US CLOs show improvement as first euro CLOs breach multiple tests
5 years ago
15 deals reported a breach in an overcollateralisation test last week according to the latest reports available on CLO-i, including one European CLO and 14 US broadly syndicated loan CLOs. -
Global CLO b-wic round-up: US triple Bs edge wider but 2020 bonds trade at a premium
5 years ago
The furious rally that the secondary CLO markets have gone through over the last two weeks was brought a halt by the Federal Reserve’s reminder on Wednesday night that all is still not well with the economy -
Beneath the triple C: downgrade rate slows as $8 billion of CLO loans tumble
5 years ago
May offered some respite to CLO portfolios as corporate downgrades to triple C were reduced heavily - affecting just $6.67 billion of US CLO paper and €1.09 billion of European CLO portfolios -
OC health check: second European 2.0 CLO reports junior OC breach
5 years ago
33 deals reported overcollateralisation (OC) breaches last week in a relatively quiet reporting period. 314 deals are now reporting OC breaches as of the latest report, according to CLO-i. -
US CLO league tables: light at the end of the tunnel as primary revives
5 years ago
May brought a rise in US CLO primary market activity with a combined $5.55 billion in new issuance for the month
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