Global CLO league tables - June 2022 YTD
Global CLO league tables - June YTD

Loan traders eagerly await electronic trading solution
The announcement of Octaura’s electronic loan and CLO trading platform last month has been met with positivity by market participants, who laud the unified approach taken by large investment banks in supporting the initiative

CLO spreads are not pricing in recession: JP Morgan
CLOs are priced fairly for a growth slowdown but not a recession, according to JP Morgan credit strategists, who warn spreads are at risk if US growth contracts

Credit lacks 'good answer' on what could cap spread widening: JP Morgan
Without any clear candidates to put a lid on spread widening, investment grade and high yield credit markets look set to extend much wider than current levels, warn JP Morgan strategists

Octaura's real-time trading solution paves way for loans and CLOs to drop illiquid tag
The unprecedented cooperation between CLO trading desks that culminated last week in the launch of Octaura could change the way credit investors judge the relative value merits of loans and CLOs versus liquid alternatives such as high yield bonds

Euro CLO league tables: short on deals but high on drama as new issuance race tightens up
For the second straight month, European CLO volume was below €2 billion, making it the first time there has been back-to-back months of less than €2 billion issued since November and December 2020

Global CLO league tables - May 2022 YTD
Global CLO league tables - May YTD

We’ll get through this awkward patch
Wide liabilities have made pricing CLOs trickier in the past few months. But speakers at Creditflux’s CLO Symposium were optimistic that the arbitrage is OK — so long as you can place those triple As

Carlyle prepares to sprint after taking plunge with "unramped" European CLO
Carlyle Group has produced what is believed to be a rare print-and-sprint CLO in Europe

Capital Four prints two-year ESG European CLO
Capital Four has become the latest European CLO manager to print a short-dated new issue, with JP Morgan arranging the €351.6 million deal, named Capital Four Euro CLO IV

Minority equity available in Capital Four's forthcoming short-dated Euro CLO
JP Morgan is marketing Capital Four Management’s latest European ESG CLO, anticipated to price at the end of this week or beginning of next week

JP Morgan splits global head of institutional structuring role as it promotes three
JP Morgan has rejigged part of its credit structuring business with a set of promotions for officials who have covered SRTs, CLOs and CSOs as part of cross-asset roles

Global CLO league tables - March 2022 YTD
Global CLO league tables - March YTD

LCH extends credit index option product to buy side
BNP Paribas and JP Morgan are the first banks to offer client clearing of credit index options through LCH CDSClear

Static Euro CLO triple A basis disappears as Palmer Square prints
Palmer Square Capital Management has printed its latest static European CLO, Palmer Square European Loan Funding 2022-2

Euro CLO league tables: primary issuance shuts down amid extreme market volatility
European CLO issuance initially picked up in February with €7.82bn in total pricings, compared to just €2.44bn in January, before extreme market volatility preceding Russia’s invasion of Ukraine halted the primary market.

Global CLO league tables - February 2022 YTD
Global CLO league tables - Feb YTD

Euro CLO single Bs widen to March 2020 levels as Partners resets
DMs on the Penta 3 reset were not disclosed but wider volatility in the market has led single B coupons on Penta 3’s deal to blow out to 983bp. But the CLO's senior tranche remained in line with guidance

Banks join fight against slow loan settlement in mini-win for CLOs
Several developments are in the works to tackle painfully slow loan settlement times in Europe, with Goldman Sachs, JP Morgan, Clifford Chance and the Loan Market Association among the firms looking to drive change

Europe leads relief rally with energy and peripheral bank credits outperforming
Credit spreads are making a broad move tighter on Tuesday, with European Central Bank president Christine Lagarde having tried to rein back rate hike expectations and oil company BP posting strong profits

JP Morgan prints Palmer Square and Neuberger Berman Euro CLO new issues
JP Morgan brought just over €800 million of European CLO paper to the market on Thursday, partnering with two of the market's newer managers Neuberger Berman and Palmer Square for new issues

KKR matches CSAM senior notes in Euro CLO refi, but goes tighter with mezz
JP Morgan has arranged a refinancing of KKR's 2016 European CLO Avoca XVII, which has around 2.2 years left of reinvestment with its non-call ending next February

Neuberger markets third ESG European CLO
Neuberger Berman is expected to price the deal in the week commencing 31 January

CLO investor cash balances at lowest levels since 2009: JP Morgan research
A survey conducted by JP Morgan has suggested that CLO investors' cash balances are at their lowest levels since 2009 - but most managers want to add risk in the coming months 

Euro CLO league tables: Upstarts Jefferies and Palmer Square fall just short of market leaders
ABC as easy as 1, 2, 3: Apollo leads new issuance as Barclays and CVC emerge as overall leaders, despite the efforts of newcomers Jefferies and Palmer Square. The European CLO market had a record year in 2021 as overall issuance fell just €3.2 billion short of €100 billion, more than double the previous record set in 2017 of €45.7 billion and a 325% increase on the coronavirus-impacted market in 2020