CLOs at a glance (September 2021)
A listing of CLOs that have priced in the last month

Leverage goes both ways as ICG and CSAM upsize CLOs
Intermediate Capital Group and Credit Suisse Asset Management have each upsized a legacy CLO after resetting the deals via JP Morgan

Bank's macro credit trading head lands buy-side job at Citadel
An experienced credit trader at a large US bank has taken on his first buy-side role 

CarVal adds single B tranche to 2019 CLO with refi
CarVal Investors has refinanced its 2019 CLO named CarVal CLO III, adding a new single B tranche to the deal's capital structure in the process

Global CLO league tables - Jul 2021 YTD
Global CLO league tables - Jul 2021 YTD

US CLO league tables: CSAM and JP Morgan refi run leaves rivals behind
Credit Suisse Asset Management and JP Morgan have been leading the US CLO manager and arranger league tables, respectively, since the start of the year. And the two CLO giants are showing no signs of letting up

Fort Washington gives CLO primary market second fort
Fort Washington Investment Advisors has priced its first new CLO of the year, and its second ever, via JP Morgan

Coronavirus delta dilemma puts reflation trades into reverse
Concern over the covid-19 delta variant dented investor optimism in July and looks set to hold back credit spread improvement in August, as focus turns to rising cases in the US and Germany

FS issues loan triple As in first 2021 CLO
FS Investments has produced its second CLO, in a deal that features a loan triple A tranche

Orix prints new CLO with unusual variable spread tranches
Orix Advisers priced Signal Peak CLO 9 on Wednesday with the junior debt tranches having a rare variable spread structure

Sound Point and Trinitas add $921 million of CLO refi paper
Sound Point Capital Management and Trinitas Capital Management have each refinanced a CLO, with the deals adding a combined $920.7 million to market volume

CLO pipeline: four US and two European managers prepare first 2021 CLOs
The CLO market is set to carry on roaring with the pipeline as full as ever despite the summer slowdown just around the corner  

Marble Point defies Q2 CLO spread widening but double Bs edge wider in new deal
Marble Point Capital Management has produced its second new US CLO of 2021 as junior CLO spreads edge wider. But the CLO has priced its debt tighter than its previous deal, defying a general move wider in the last three months

Diameter takes bite out of CLO pie with debut deal
Bond-flex CLO issuer Diameter Capital has made the move to traditional CLOs by pricing Diameter Capital CLO I yesterday via JP Morgan. This comes shortly after reports Apollo Global Management and Corbin Capital would provide seed capital towards this venture

Deutsche Bank plugs gap as it hires US CLO syndication head
Deutsche Bank has filled a gap on its CLO syndication team by hiring from one of the most productive CLO teams in the business

JP Morgan prints CLOs for CarVal and Western
JP Morgan has issued new CLOs for CarVal CLO Management and Western Asset Management Company

Trinitas upsizes US CLO as senior/junior spread compression reverses
Trinitas Capital Management has priced a new US CLO after upsizing the transaction by just over $100 million, according to market sources. The transaction again demonstrates convergence between senior and junior CLO spreads over the past quarter, as reported by Creditflux yesterday, but more recently this has reversed

JP Morgan raises 2021 US CLO forecast to record $135 billion
JP Morgan's research desk has raised its US CLO new issue forecast for 2021 to $135 billion

Q2 senior and junior CLO spreads appear to converge as Sound Point prints new deal
Sound Point Capital Management has reached a landmark after printing Sound Point CLO XXX via JP Morgan on Friday, according to market sources. The deal suggested that senior CLO spreads have widened, while juniors have compressed since the start of the quarter

CLO equity fluctuates as resets trigger upsizes and downsizes
A once-rare move of CLO issuers upsizing or downsizing their equity tranches in resets is entering the mainstream

CVC scores tightest CLO refi print since April
CVC Credit Partners refinanced its 2017 CLO named Apidos XXVII on Tuesday, scoring the tightest triple A refi print since early April of just 93 basis points over Libor

Crescent and CSAM price $1 billion of CLO refis
Crescent Capital and Credit Suisse Asset Management brought two CLO refinancing transactions on Friday, boosting supply by $979.5 million

Sixth Street new CLO scores fifth tightest funding costs in Q2
Sixth Street Partners priced its third new CLO of the year on Friday and scored the fifth tightest funding costs of the second quarter

Global CLO league tables - May 2021 YTD
Global CLO league tables - May 2021 YTD

US CLO league tables: CIFC makes big leap but CSAM and JP Morgan retain leads
There has been no change atop the US CLO league tables, but Credit Suisse Asset Management’s and JP Morgan’s leads are dwindling