Defaults could rise for private ARR loans during the next two years—KBRA
Borrowers of annual recurring revenue loans, typically software companies, have so far outpaced other industries in terms of growth

HalseyPoint joins the 2023-vintage reset trend
The reset of HalseyPoint CLO 7 is the latest in a slew of such reworkings by multiple managers

Carlyle shortens it up with first new Euro print for 2025
The 1Y/2Y transaction priced its triple A paper at Euribor plus 121bps

HPS undertakes second reset and renaming of 2017-vintage Euro CLO
The deal takes the manager’s total European issuance for the year to over EUR 1.2bn

Guggenheim prices ‘quasi-CLO’ rated feeder fund
The deal follows two similar issues from New Mountain over the last 18 months

SRTs aren’t exactly a new idea

Canyon prices its third CLO since entering Europe
Canyon Partners has priced its first European CLO since April last year  

Partners Group reworks 2020-vintage US CLO a second time
The refinancing of Pikes Peak CLO 6 follows a reset of the US BSL deal in 2021  

PPM prices first new issue CLO since May
PPM Loan Management has priced a US BSL CLO, its first new issuance in eight months 

European CLO deals swing into action as Bridgepoint prices reset
Bridgepoint has priced the first European CLO deal of 2025, resetting  a 2022-vintage CLO via Barclays

AGL prints new low-levered CLO with triple-As at 128bps
AGL has priced a new US BSL deal sized at USD 303m  with the lowest leverage seen this month 

Rockford Tower prices Euro and US resets on same day
King Street Capital Management affiliate Rockford Tower echoed KKR and Permira in pricing dual European and US CLOs at the end of last week

Permira prices first US CLO marking its debut as a manager in the region
European-based manager priced its first US deal via JPMorgan becoming the third US BSL manager to debut this year

BNP Paribas announces negotiations to buy AXA IM
BNP Paribas said it entered exclusive talks to buy AXA's asset management unit and set-up a partership for EUR 5.1bn

Record-sized European 2.0 print for Palmer Square
Palmer Square yesterday racked up the milestones when it priced its latest deal, a static CLO that was the largest European 2.0 CLO seen so far

Citi arranges new CLO for Investcorp
Citi partnered with Investcorp Credit Management this week to arrange a new US BSL CLO valued at USD 406.9m, with the senior notes printing at 160 bps over SOFR  

First CLO of 2024 prices
Jefferies won the battle for the first CLO of 2024 last week via a new US BSL CLO priced for CQS

CLO market round-up: holiday cheer hits as US senior spreads move in
The holiday period saw a brace of end-of-year US deals pricing, with a range of new issues, resets and a refi to lead the market into 2024, and senior spreads move firmly back in the 160s.

Investcorp makes late break to join 2023 new US issuers
Investcorp Credit Management foreshadowed a new US CLO with guidance offered on Harvest US CLO 2023-1, a BSL deal arranged by Deutsche Bank

Latest Elmwood reset brings triple A spreads in 60bps
Morgan Stanley priced Elmwood Asset Management’s second reset of 2023 on Friday

Sound Point prices first CLO under new performing credit head
Sound Point Capital Management priced their latest deal on Wednesday, according to market sources. Sound Point CLO 36, arranged by BNP Paribas, is a US broadly syndicated CLO, and the manager’s first deal this year.

Sculptor structures junior CLO debt as loans on first new issue in 12 months
Sculptor Capital Management returned to the CLO primary market on Thursday to print its first new issue deal in over 12 months

Re-proposed SEC rules could negatively impact CLO managers and affiliates
CLO managers and their affiliates could be negatively affected by re-proposed securitisation conflict rules by the Securities and Exchange Commission last week, if approved in its current form

Sofr away from me – basis puts new CLO triple As in dire straits
A relative value gap has opened between secondary and primary market CLO triple A tranches, with the former looking attractive as volatility heightens and the basis grows between Libor and Sofr. This presents an additional problem for managers hoping to do new business

Mid market CLO league tables: Natixis extends lead with two new issues but SocGen stays close
Of the three mid market CLO new issues that priced in August, market leader Natixis arranged two of them to put some breathing room between it and its nearest rivals