Kicking the tyres: CLOs survive examination as bankruptcies tick higher
US CLOs are weathering the turbulence triggered by a couple of bankruptcies in the broadly syndicated loan universe, namely US retailer Sears and American Tire Distributors. Those bankruptcies, filed on 15 and 4 October, respectively, have failed to dent CLO structures

CRE CLOs poised to grow by as much as 40%
The CRE CLO market will grow in 2019 over 2018 as cross-over CLO investors get more comfortable with the simpler, shorter duration structure, said speakers at IMN’s ABS East conference in Miami

Mid market CLOs should outperform regular CLOs in the next downturn, conference hears
Middle market CLO managers are bullish on their prospects when the credit cycle does eventually turn, according to panelists at IMN’s ABS East conference in Miami this week

Points up front: BlueGreen OneTreeHill United, the CLO team
Inspired by Serhan Seçmen’s keynote address at Creditflux’s CLO Symposium in May, we’ve come up with a World XI of CLO managers.

CSAM wins Creditflux Manager of the Year award for a second time
From two guys and a Bloomberg to being named the best manager in the credit industry: Credit Suisse Asset Management wins big at the 2018 Creditflux Manager Awards

CSAM in contention for US and European CLO honours
Credit Suisse Asset Management, CVC Credit Partners, Spire Partners and Sound Point Capital Management are among the CLO managers that have secured multiple finalists positions at this year’s Creditflux Manager Awards

CLO managers give blessing to Morningstar
“Our methodology is extremely transparent and our turnaround is extremely quick" - Morningstar's Brian Grow describes the company's ascension into the CLO market

Carlyle group's solid Q4 results include $1.7 billion of global credit fundraising
The firm’s fourth quarter global credit fundraising of $1.7 billion included four CLOs, follow-on closes in their new private BDCs, structured credit fund, and managed accounts

Vintage deals revived as CLO equity investors buy, refi, reset and repeat
US CLOs are being reworked time and again as investors look to reset deals that have previously been refinanced

Citi finds that triple A investors should look at short-dated CLO resets over refis
Citi's credit research team has put together a report assessing how US CLO triple A tranches are pricing relative to their inherent refinancing risk.

US league tables: CBAM tops US CLO rankings after meteoric rise
Just over a year ago, New York-based CBAM Partners commenced operations amid much fanfare. Fast forward 12 months and the asset manager has delivered on its promise, with Creditflux data showing that the firm was the largest CLO issuer of 2017

Investors crystallise gains through liquidations
Refinancings and resets have dominated 2017, but CLO equity investors have found other ways to make strong returns

Fitch rating outlook: CLO spread compression to continue in 2018
Spreads on new broadly syndicated loan (BSL) CLO notes rated AAA down to BBB will be further squeezed in 2018

Bids reach 87 cents for equity in re-issued CSAM CLO
A control equity stake in a 2017 CSAM CLO - which traces its roots back to 2007 -  was up for sale via a b-wic late last month

Changes to the US tax code could negatively impact CLOs
The amendments, which recently passed a vote in the US Senate, could have a negative impact on the CLO industry, according to Moody's

Eagle Point backs manager's comeback deal as it adds $51 million of CLO equity
Eagle Point Credit Company added $50.8 million of CLO equity positions in the quarter ending September, according to an announcement by the publicly listed company yesterday

US CLO round-up: trend-setting managers show 2015 refis are in fashion
The fourth-quarter CLO rush is well and truly in motion with $3.4 billion of CLO paper pricing in the US - and refis of 2015 deals are becoming increasingly important

Halcyon prices its second CLO transaction in two days
Fresh from launching a new CLO with BNP Paribas this week, Halcyon has turned its attention towards refinancing a 2015 deal

Golub's mid-market deals dominate US CLO performance ranking
Mid-market CLOs dominate our rankings of the best performing US CLOs in August with three deals from Golub Capital Partners featuring in our top 10

Marathon leads the pack to top US CLO performance tables
Recently refinanced CLOs top our ranking of the deals with the highest equity distributions over the last week with Marathon Asset Management leading the way

CLO manager shares details of vertical strip finance pricing
Vertical strips with some third-party financing have been perhaps the most popular way for CLO managers to tackle risk retention rules. One manager has disclosed details on just how much this financing costs

Apollo notches up 100% CLO refi/reset record
It’s not easy being a large CLO manager and staying on top of the refi-reset market, but Apollo has managed to do just that

CLO buckets come good for unpopular CLOs-squared
A recently redeemed Highland CLO shows that CLO squareds have performed well despite the ratings volatility suffered by CLOs following the financial crisis.    

CLO investor trades out of low-coupon Ares triple As
A $30 million slice of the triple-A tranche of Ares XXVI was sold on Friday with market sources claiming that the stake sold above par with a cover of 100.05

CLO round-up: volumes spike as secondary market bursts into life
Junior CLO spreads are tightening in the secondary market amid an uptick in volumes. The primary market has not been slow this week either as CBAM launches a $1.25 billion and three other CLOs price on Friday