Global CLO b-wic round-up: record level of CLO paper stalls rally
Record levels of primary and secondary CLO supply has left investors spoilt for choice and led to the CLO rally stalling

Barings' new US CLO joins group of tight 2021 prints
Barings has produced its first new CLO of 2020, teaming up with JP Morgan on the $359.2 million deal named Barings CLO 2021-I

Past returns: Highland sells European CLOs at second attempt
In Creditflux 10 years ago, we reported that Highland Capital Management was offloading its European CLOs, with Alcentra and Barings among the frontrunner

CLO pipeline: US adds deals at frenetic pace as Europe catches breath after record start
US CLO investors have numerous deals to consider with 13 new issues and 15 repricings being prepared to flood the market in the coming days

At least 2020 wasn’t dreadful for CLOs
Last year’s downturn was another in which CLOs survived and in many cases thrived as active management and Libor floors helped managers deliver 13%-plus returns to equity

Barings' CLO team partners with Citi for first CLO as partnership since 2016
Barings has teamed up with Citi to print a new CLO, marking the manager's first partnership with the largest CLO arranger for the first time in over four years

OC health check: 41 CLOs heal their breaches
147 CLOs breached an over-collateralisation test in October, down from 183 in September. 41 CLOs that breached an OC test in September passed all OC tests in October, most of which had October payment dates

Elements work against CLO managers in Q3
CLO equity distributions fell in Q3 largely due to factors, such as Libor mismatches, that CLO managers can’t control. But these headwinds could turn in favour of managers in the near future

Six European CLO managers switch to Ireland after Dutch tax hike
European CLO managers have been rapidly shifting their Netherlands-domiciled SPVs to Irish DAC vehicles, according to sources, including PGIM, Barings and Cairn

European CLO managers switch legacy deals to originators ahead of Brexit deadline
A few European CLO managers are undertaking house keeping ahead of the end of the Brexit transition period in January, by switching the method by which their legacy CLOs comply with risk retention from sponsor to originator

Credit fundraising: Dubai manager gets in on the act as direct lending takes off
Shuaa launches credit fund in the Gulf as Ares, Contingency, HPS and Perceptive are among those to close billion-plus funds

Credit Rendezvous: sometimes you have to dive deep to find value
Some parts of the credit market are fraught with danger, but that does not mean portfolio managers are avoiding them entirely, according to the Credit Rendezvous, Creditflux's 10-page quarterly report eaturing comments from 15 credit experts

Barings promotes PM to lead European CLO unit
Barings has promoted two members of its European CLO management team, one of which becomes the new head of its European CLO management business

Credit fundraising: managers build homes for real estate credit funds
The “largest ever real estate credit fund” was one of the fundraising highlights last month as Blackstone’s Real Estate Debt Strategies IV fund reached $8 billion on its final close

Global CLO round-up: fresh start for five year deals as market reopens
The CLO market is still producing deals at a good pace, with $2.6 billion of global issuance last week. Four new issue deals priced in the US with Intermediate Capital Group and NYL Investors pricing their first transactions of the year while CVC Credit Partners made it two and Barings three in 2020

Barings prices second US CLO in a month
Barings has stepped up the pace of its US CLO issuance, pricing its second 2020 new issue yesterday less than one month after pricing its first

Barings prints largest post-covid European CLO via Natixis
Barings priced the largest European post-covid CLO on Friday in a €452.8 million transaction named Barings Euro CLO 2020-1

LP round up: $5 billion flows to credit as private market allocations increase
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux

Barings and PGIM win loan and structured credit mandates as pension puts £2.7bn in credit
The firms will manage global syndicated loans, securitised credit, emerging market debt and global high yield credit for Border to Coast Pension Partnership's £2.7 billion ($3.43 billion) multi-asset credit fund 

CLO pipeline: managers prepare to end quarter with a bang
CLO issuance is showing no signs of slowing down as spreads continue to grind tighter and election day draws ever closer

OC health check: August reports slow torrent of fresh breaches to a trickle
198 CLOs reported an over-collateralisation (OC) breach in August, only three of which were completely new breaches. This is a slowdown from July, when 230 deals suffered some kind of OC breach, according to the latest reports from CLO-i  

Barings brings CLO market tighter with first new issue of 2020
Barings has priced its first regular way new CLO of 2020, and pulled the market a little tighter in the process. The manager teamed up with JP Morgan to print the $350.05 million deal, named Barings CLO 2020-1

RBC arranges two US CLO tranche refis
Barings and PineBridge each priced their first US CLO transactions of 2020 after refinancing fixed rate tranches from 2018 vintage deals, according to market sources

CLO pipeline: Allstate looks to end 15-month new issue absence
Allstate is among those managers looking to issue a CLO as the primary market heads into September, traditionally one of the busiest months in the new issue calendar

Managers weigh up matters of principal
CLO managers that were able to avoid OC traps made double-digit equity distributions in Q2, despite the headwinds. But these firms tended not to be among those that built the most par