Global CLO b-wic round-up: secondary prices reach March levels
The Memorial Day bank holiday in the US and the late May bank holiday in the UK meant a short week for CLO trading, but that did not stop a good supply of US CLO triple A rated paper making its way to the secondary market

Europe’s newcomers find ways to stand out
Last year’s new European CLO managers needed to provide something different for investors. In general, they’ve succeeded, with Capital Four having one of the smallest overlap figures in our data

Bankrupt Hertz runs out of gas with CLOs holding $245 million
CLOs hold $245 million of Hertz’ debt as the US-based car rental company drives into bankruptcy protection, with the coronavirus panedemic putting brakes on the Estero, Florida-headquartered's firm car rental operations

Barings and pension fund join forces to issue US CLO
A joint venture between Barings' business development company and South Carolina Retirement Systems, known as Jocassee Partners, has priced a $335.53 million CLO via Citi

OC health check: interest diversion failures foreshadow breaches
14 CLOs reported over-collateralisation test breaches last week, five for the first time, according to the latest trustee reports available on CLO-i. 

Apollo and Barings defer equity payments on long-dated CLOs
Apollo Global Management and Barings have joined PGIM in deferring their scheduled April payment dates for a handful of European CLOs, according to the latest payment reports on CLO-i. Apollo also deferred payments on several of its US CLOs.

US pension's joint venture with Barings set to produce first CLO
Jocassee Partners, a joint venture established between Barings' business development company and South Carolina Retirement Systems, is marketing a CLO

CLO pipeline: Apollo targets fourth deal as managers line up to break 2020 ducks
Six CLO managers, five in the US and Fair Oaks Capital in Europe, are showcasing their first new issues of the year in preparation for pricing later this month. And Apollo Global Management is marketing its fourth new issue CLO (third US new issue CLO) in the last month and a half

US CLO double Bs struggle as 2020 deal drops 40 cents in three months
A gap is emerging between single A US CLO tranches and junior CLO debt after $33 million of single As changed hands yesterday via a b-wic with prices between 82 and 87 cents. But a 2020 CLO shows how fast and sharp the decline has been for junior CLO paper

Barings BDC eyes syndicated loan market opportunities
Three weeks ago, during its 2019 earnings report, Barings BDC said the company’ had rotated out of broadly syndicated loans to ramp up its middle market exposure. But with widespread market upheaval since then, most opportunities to build value for investors will come from the broadly syndicated market

ICG hires European CLO portfolio manager from Barings
Barings CLO portfolio manager Rob Faulkner is joining Intermediate Capital Group as a managing director responsible for European CLOs

Beware of "mequity" risk in direct lending, writes Barings
Barings co-head of global private finance, Ian Fowler, predicts that the adoption of lending terms associated with broadly syndicated loans into private credit will not prove beneficial in the long term

Barings splits triple As for latest new issue CLO
Barings has split its latest European CLO’s triple A notes into senior and junior tranches in a rare move for the European market

Barings matches November benchmark with new US CLO
Barings yesterday returned to the CLO primary market with the tightest triple A print on the month

Mid market CLO league tables: springing back into life after September drought
After a September hiatus, three managers returned to mid market CLOs in October to bring issuance back on track as monthly volume exceeded $1 billion for the sixth time this year

CVP resigns as manager from two US CLOs
Credit Value Partners has resigned as manager of two of its US CLOs, according to a notice on the Irish Stock Exchange. The move comes amid an overhaul at CVP in which the manager's loan platform has been absorbed into its affiliate Mackay Shields and its distressed platform spun off

Barings prices CLO backed by mid market loans
Barings has produced its third CLO transaction backed by loans to middle market companies

GreensLedge hires experienced CLO pair as it launches asset management business
GreensLedge has made a huge statement by hiring two from Barings' CLO investment team

Head of structured credit and CLO investments leaves Barings
One of the CLO industry's biggest names has left Barings, resulting in the firm appointing two co-managers for its structured credit investment group 

Barings raises €1.5 billion for European direct lending
Barings has held a close for its latest European direct lending fund, receiving €1.5 billion of capital from over 45 institutional investors

THL anchor CLO equity seeks purchase in secondary market
Up for auction later today is the 15th controlling stake in a US CLO this year, with nine of the previous 14 having failed to trade

Ares and Barings lead the way as triple A spreads regain lost ground
CLO triple A spreads in Europe have reached their tightest point in months, with two deals issuing their first pay notes at 108 basis points over Euribor

Barings targets 110-111bp print on forthcoming European CLO
Barings is looking to join the exclusive list of European CLO managers to issue triple As around 110 or 111 basis points over Euribor

CLO pipeline: managers return in force after varying time-outs
CLO managers in all markets are taking the view that the time is ripe to print their latest deals. There are 30 transactions in the US CLO pipeline this week with a further four in the middle market space and Europe

CLO managers lick their wounds with Joerns bankruptcy
Seven CLO managers hold $92.3 million exposure to US healthcare equipment businesses Joerns Woundco Holdings, which filed for Chapter 11 bankruptcy on Monday