OC health check: breaches start to take toll on July payment dates
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
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
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
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
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
May brought a rise in US CLO primary market activity with a combined $5.55 billion in new issuance for the month

Global CLO b-wic round-up: secondary prices reach March levels
The Memorial Day bank holiday in the US and the late May bank holiday in the UK meant a short week for CLO trading, but that did not stop a good supply of US CLO triple A rated paper making its way to the secondary market

Akorn falls into bankruptcy with $321 million planted in CLOs
CLOs hold $321.3 million of specialty pharmaceutical company Akorn’s debt, according to the latest trustee reports from CLO-I, with the firm having filed for chapter 11 protection in the US District Court for the District of Delaware yesterday

OC health check: eight CLOs report second month of test failures
20 CLOs reported overcollateralisation test failures last week, of which 12 were new breaches while eight were deals were failing for a second reporting period in a row

Beneath the triple C: April showers send buckets overboard
Downgrade waves rocked the CLO market in April as Moody's and Standard & Poor's downgraded 135 corporate borrowers to triple C or below, from ratings above that level. The downgrades put CLOs in rough waters as $41.6 billion of such loans are prevalent in US CLOs while €5.64 are moored in European CLO portfolios – affecting 5.92% of the US market and 4.37% of the European market

Who’s got the moves US: oil and gas leads renaissance for US CLO managers
The US leveraged loan market has held steady over the last two weeks. After rising to just below 87 of par in mid-April, the S&P LSTA US Leveraged Loan index closed at 85.75 to start this week

Moody's joins Fitch and S&P in CLO negative watch camp as it acts on 976 tranches globally
Moody’s has put tranches from 358 US CLOs and 39 European CLOs on review for downgrade, in an announcement that places 976 tranches (859 in the US 117 in Europe) at risk of losing their original rating

OC health check: another two CLOs fail senior OC tests
Two senior overcollateralisation test failures number among 26 deals joining the list this week of CLOs breaching their OC tests in April, according to the latest trustee reports on CLO-i.

Trinitas prices CLO after locking in levels
Trinitas Capital Management has joined the exclusive list of managers to issue CLOs amid the coronavirus-induced market selloff

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

Global CLO b-wic round-up: that's another fine mezz you've gotten me into
European CLO investors are tripping over themselves to buy mezzanine paper in the secondary CLO market

Pacific AM prices first new US CLO in 18 months
Pacific Asset Management has sailed back into the CLO primary market with its first new issue deal since May 2018, becoming the first CLO manager to issue a five-year reinvestment CLO in 2020

Global CLO b-wic round-up: junior mezz rebounds with busiest week since June
Secondary market CLO trading has made a busy start to 2020 with $478.6 million of US deals and €103.3 million of European CLOs up for sale last week

New GSO US CLO scores tightest funding costs since early October
GSO Capital Partners has returned to the CLO primary market and produced the tightest new issue for over two months

Carlyle matches 2018 US new issue CLO volume with fourth deal of 2019
Carlyle Group completed its fourth US new issue CLO offering of the year on Friday, according to market sources

Fortress prices its first CBO of the year
Fortress Investment Group priced its first new issue CBO of the year on Friday via GreensLedge, the lead arranger on the deal, and Natixis

CSAM prices sixth new issue US CLO of 2019, passing $4 billion new issue volume
Credit Suisse Asset Management’s new issue US CLO volume yesterday surpassed $4 billion as the firm priced a $797.2 million deal named Madison Park Funding XXXVI

CIFC prices a company-record sixth CLO of 2019
CIFC Asset Management yesterday priced its sixth new issue US CLO of the year for the first time in the firm’s history, according to market sources

Double B CLO spreads drop back to 725bp as BlackRock prices US CLO
CLO double B spreads in the US have gone tumbling back to 725 basis points after BlackRock priced a new CLO yesterday via Wells Fargo

Barings matches November benchmark with new US CLO
Barings yesterday returned to the CLO primary market with the tightest triple A print on the month