CLO pipeline: managers large, small and new ready to price in post-Labour Day surge
US managers are preparing a wave of new issue CLOs in the coming days, as the usual post-Labour Day pricing surge comes to fruition even in this most unusual of years

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

Oak Hill refinances fixed rate notes from 2012 CLO
Oak Hill Advisors has refinanced the double A notes of its oldest CLO, OHA Credit Partners VII, which originally issued in 2012

LP round up: pension creates private credit bucket as Florida eyes 'best distressed opportunity ever'
There was no slowdown in credit allocations last week, wrapping up what has been an extremely busy July. $1.4 billion has been allocated to credit, it has emerged over the last seven days, according to board documentation seen by Creditflux.

Five Arrows prices same-day CLOs in US and Europe for first time
Five Arrows Managers broke new ground on Friday after pricing two CLOs on one day for the first time in its history

OC health check: all quiet on the overcollateralisation front
Eight US broadly syndicated loan CLOs reported overcollateralisation test breaches last week during a quiet reporting period in which only 40 CLOs published a trustee report, according to CLO-i, but focus is turning to the swathe of CLO distributions coming due.

Beneath the triple C: downgrades hold steady as Travelport loses its luggage
For the second month in a row downgrades to triple C steadied, with just under $9 billion of CLO loans falling to this rating across 34 corporate borrowers

CLO pipeline: break's over - time to print deals
The CLO market has taken a slight pause after the independence holiday in the US last weekend, meaning the CLO pipeline includes a backlog

CLO pipeline: Managers prepare to build on momentum in July
The demand for new issue CLO paper is strengthening with eight US CLOs, one mid market CLO and three European CLOs preparing to print in the coming days

OC health check: US CLOs hit by new round of test failures
135 deals breached an over-collateralisation test last week, 78 for the first time, according to the latest trustee reports from CLO-i.

CLOs hold $189.3 million of J Crew as coronavirus pushes firm into bankruptcy
12 CLO managers hold $189.3 million debt of US retailer and household name J Crew (parent company Chino Holdings), which filed for Chapter 11 in the US Bankruptcy Court for the Eastern District of Virginia on Monday

Tennessee pension awards $125 million to special situations credit fund
Tennessee Consolidated Retirement System has awarded $125 million to a special situations credit fund 

Global CLO b-wic round-up: triple A volumes hit nine-year highs, but equity valuations could be "single digits"
Over $2.5 billion of US CLO paper listed in b-wics in last week's manic trading, with a further €435 million of European CLO bonds also on sale. CLO buyers and sellers turned to the safest part of the capital structure – the triple A rated notes – and away from its most illiquid asset class, with no equity bonds listed in either market

Raymond James scores first arranging credit with Deerpath CLO
Deerpath Capital Management has priced its second CLO backed by loans to middle market companies as Raymond James scored its first CLO arranging credit as co-placement agent

Zais markets short two-year CLO via Goldman Sachs
Zais Group is in the market with Goldman Sachs with its latest new issue CLO

Highland LP’s bankruptcy could trigger power grab, as hunt for assets begins
Creditors to Highland Capital Management's limited partner subsidiary are calling for a change of management to handle the firm's emergence from bankruptcy protection

Highland files for bankruptcy
Highland Capital Management filed for Chapter 11 bankruptcy in the Bankruptcy Court in the District of Delaware (Docket No. 19-12239)

Och-Ziff revenue tumbles despite inflows to credit funds and CLOs
Och-Ziff Capital Management posted a net loss of $8.6 million in the second quarter, which it blamed on the market’s reaction to US China trade tensions and the US Federal Reserve’s twist of monetary policy

Arrowmark resets 2017 middle market CLO
Arrowmark Colorado Holdings teamed up with Goldman Sachs on Friday to price a reset of its 2017 middle market CLO known as Peaks CLO 2

US CLO round-up: what’s the benchmark these days?
They price at 112bp, they price at 126bp. They price at 116bp, they price at 123bp. They are US CLO triple As and they are pricing everywhere at the moment.

RBC prices $509 million risk retention-compliant CLO for MJX
MJX Asset Management has priced more than $5 billion worth of CLO paper in 2018 following the launch of Venture 34 yesterday. The US deal is expected to comply with European risk retention rules

B-wic round-up: above par bids flood in for CLO double Bs
$401.43 million worth of CLO paper was available via b-wics last week out of which $378.23 million (94.2%) traded, according to CLO-i

Aviation debt funds achieve lift-off as airlines look to replenish fleets
Funds and financing solutions geared towards aviation debt have been taking off in recent weeks.

Tetragon raises $255 million for its latest CLO risk retention fund
Tetragon's newest CLO-focused credit fund has completed its first close, with commitments of about $254.8 million, regulatory filings indicate

New York firm becomes 2017's 140th active CLO manager
The manager priced a $340.27 million middle-market CLO yesterday, according to market sources