US CLO league tables: BofA marches on as Elmwood climbs to top in new issues
Last month, for the first time since June 2020, no resets or refinancings priced in the US CLO market as market volatility took repricings out of the money. This meant a month-on-month decline of $13.4 billion in overall issuance, but new issuance was still healthy with $11.6 billion pricing in March

CLO managers price with short, medium and long reinvestments as pricing widens
Ares Management, Golub Capital Partners and Partners Group each priced a new CLO on Friday, with each manager taking a different approach to the various duration structures that have arisen amid the current market volatility

PGIM prints latest CLO with triple As paying 138bp
PGIM on Thursday priced its third new US CLO of the year, bringing its issuance volume for the year to $1.57 billion

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

Elmwood becomes first US CLO manager to print a third new issue this year
Elmwood Asset Management became the first US CLO manager to print its third new issue of 2022 on Wednesday, teaming up with JP Morgan on the new deal named Elmwood CLO 16

Birch Grove CLO portfolio grows to $1.9 billion with fourth new issue
Birch Grove Capital's CLOs under management grew to $1.9 billion on Wednesday as the manager priced its fourth new issue

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

Golub upsizes 2020 CLO by over $100 million
Golub Capital Partners took to the CLO reset market on Wednesday to reset its late 2020 CLO named Golub Capital Partners CLO 50(B), upsizing the transaction by $102.5 million 

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

Post gets an A+ on US CLO assignment
Post Advisory Group has drastically reduced the gap between its CLO issuances after pricing its third US deal via JP Morgan. In the process the manager has scored a rare high single A rating on its class C notes

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

Anchorage Capital brings new $406 million CLO via JP Morgan
Anchorage Capital has teamed up with JP Morgan to print its first new CLO of the year, naming the deal Anchorage Capital CLO 25

CLO pipeline: deals come in two by two hurrah! hurrah!
It is raining CLOs in February and some issuers are preparing for the deluge by printing deals at the double

Franklin makes it back to CLOs as parent company looks to issue through two channels
Franklin Advisers has made a return to CLO management after 10 years in a deal arranged by JP Morgan

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

Carlyle and Oak Hill give $50 million upsizes to CLOs amid resets
Carlyle Group and Oak Hill Advisors each reset a legacy CLO on Monday, with both managers opting for a substantial upsize of the original deals

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 

US CLO league tables: Blackstone and Citi win new issues but CSAM and JP Morgan take overall issuance crown
The US CLO market had an extraordinary 2021 with almost $400 billion of overall issuance pricing as records were set for all forms of issuance

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

Global 2021 CLO league tables
Global 2021 CLO league tables

CSAM gets $100 million boost after upsizing print and sprint CLO post-pricing
JP Morgan upsized Credit Suisse Asset Management’s Madison Park Funding LIX CLO by $100 million on Friday, a day after the deal priced

CLO 2022 Outlook: 2021 is hard act to follow, but CLO buyers have positives aplenty
New CLO issuance in 2022 will remain elevated but below 2021’s record numbers, banks agree. But there is no consensus among strategy desks on the volume of repricings to come, partly due to the unknown impact of the Sofr transition.