New AXA European CLO shows mezz dispersion
AXA maintained its prolific recent rate of issuance, with a new European deal – the firm’s first for the year – following on from two US deals last month

Tikehau solidifies European narrowing with new CLO
Tikehau Capital has priced a new EUR 406.2m CLO, reinforcing the European market’s ongoing narrowing of liability spreads

Fidelity prices new European CLO with triple-As at 131
Fidelity Investments priced its Fidelity Grand Harbour CLO 2024-1 yesterday at a new record year-to-date triple-A tight.

Natixis markets new AXA European CLO
AXA is among the managers boosting the pipeline of forthcoming European deals, with the manager currently marketing a new European issue via Natixis

Fidelity markets new European CLO that would match YTD tights
Fidelity is marketing a new issue European deal with the triple-As poised to equal year-to-date tights, suggesting prints in the 130s are becoming ‘the new normal’

Palmer Square takes its turn lowering the Euro AAA CLO benchmark
Less than a week after Partners Group set a new AAA benchmark for new European CLOs, Palmer Square has tightened the mark further

First Eagle tightens senior spread by 30bps in refi of 2022 vintage CLO
First Eagle has refinanced four tranches of its Wind River 2022-2 CLO, pricing the triple-A notes at SOFR plus 134bps

Trinitas prices partial refi of 2020 vintage BSL CLO
Trinitas has refinanced four debt tranches of Trinitas CLO XIV, a US BSL CLO from 2020

MidOcean cuts WACC by 90bps in 2023 reset
MidOcean Credit last week reset its 2023 vintage MidOcean Credit CLO XII in a deal that brought funding costs in by almost 90bps

Bain keeps it short for reset of 2020 vintage CLO
Bain Capital Credit has reset Bain 2020-5, a US BSL CLO, in a USD 372m transaction

Electronic controls company Robertshaw is latest CLO name to default
Robertshaw, held by 134 CLOs with a total exposure of USD 151m, has filed for Chapter 11 bankruptcy

Largest new-issue CLO since 2017 prices
Golub Capital has stunned the market with its new-issue middle market CLO that priced on Tuesday – upsized from USD 500m to a mammoth USD 1.34bn

Palmer Square liquidates 2022 CLO through BWIC
Palmer Square is the seller of a mammoth EUR 350m loan and bond BWIC portfolio that was auctioned last Thursday (4 January) as it has been winding down Palmer Square European Loan Funding 2022-3

Beneath the triple C: Life could be better, but it’s just a letter, under the CCC
Many market participants were eagerly looking forward to a break in December after a gruelling year, but the rating agencies were in no mood to oblige. 

Mid market CLO league tables: Golub makes it six straight while Natixis blows away the competition
In a trying year, issuance of mid market CLOs dropped a considerable amount. Total volumes dropped from $43.6 billion in 2021 to $20.8 billion in 2022, a 52% decrease year-on-year

US CLO league tables: Blackstone and BofA rise above competition in volatile 2022
A tumultuous year in the US CLO market led to total issuance dropping from a record $391.2 billion in 2021 to $134.8 billion in 2022

Global 2022 CLO league tables
Global 2022 CLO league tables

CLO rankings: manager AUM, advisory firm and trustees Q4 2022
As 2022 draws to a close manager consolidation through mergers and acquisitions have been balanced out by new market entrants to leave roughly the same number of managers that entered the year, at least for now.

Beneath the triple C: Winter is coming for CLOs as downgrades outstrip upgrades
Both US and European issuers have felt downward pressure from the rating agencies as we head towards the end of the year, with downgrades to triple C now firmly outpacing upgrades out of it.

European CLO managers trade loans to avoid (par) burn
Between March and July, European CLO managers traded €21 billion of assets within CLOs that were still in their reinvestment period as opportunities arose amid a weaker macro environment and Russia’s war with Ukraine

Cerberus opts for rare three-year non-call on new CLO
Cerberus Business Finance priced a new middle market CLO on Wednesday, with investors agreeing to a rare call-lock duration of three years

Elmwood becomes sixth manager to print two new US CLOs in 2022
Elmwood Asset Management priced its second new CLO of the year on Friday, bringing its 2022 new issue volumes over $1.1 billion

TCW hits agreement target with sequence of Jefferies-arranged CLOs
TCW Group has priced the fourth new CLO resulting from its strategic partnership with Jefferies, which was arranger on the deal 

Three new deals bring weekly US CLO reset volume to $3.9 billion
Three US CLO resets priced on Thursday, bringing weekly reset volume for the week to $3.9 billion across eight transactions

Redding Ridge upsizes 2019 CLO by $321 million
Redding Ridge on Wednesday reset its 2019 CLO named RR 7 via Mizuho, greatly upsizing the transaction