Three transactions take 2021 CLO refi volumes over $3.5 billion
Another three CLO refinancing transactions priced in the US on Friday, bringing the total volume across refis, resets and reissues in 2021 up to $3.58 billion

DFG changes name to Vibrant Capital Partners
New York-based CLO manager DFG Investment Advisers has rebranded under Vibrant Capital Partners

Global CLO b-wic round-up: junior tranches trade above par as US volumes reach $45bn
A busy week of over $1.4 billion of US CLO secondary bonds and €290 million of European CLO paper gave light to CLO spreads across the capital structure continuing their push towards pre-covid levels

Key CLO portfolio manager set to leave First Eagle
A key person named in three legacy THL Credit CLOs, which First Eagle manages following its acquisition, is set to depart in January after 16 years' service at the firm 

CLO pipeline: LCM switches arranger to complete deal and join issuance surge
Over $3.5 billion of global CLO issuance priced last week and managers in all three CLO markets are taking advantage of tightening spreads across the capital structure after three major covid-19 vaccine breakthroughs and increased confidence since the US presidential election

Sycamore Tree hires experienced CLO investor in Dallas
Sycamore Tree Capital Partners has underlined its intention of launching a CLO investment strategy by hiring a former co-head of structured debt trading at Bank of America

Global CLO b-wic round-up: Junior tranches rally amid heavy supply, including portfolio liquidation
The US CLO secondary market rally is showing no signs of slowing down after a week of over $1 billion worth of bonds was listed and well absorbed, according to market sources. The European market also had a roust week with over €300 million of paper up for grabs, although the market stayed generally flat with some tightening in double and single Bs

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

Sculptor CLO refi ends US primary pause with first deal post-election
Sculptor Capital Management on Wednesday priced the first transaction in the US CLO primary market following the US election, bringing to an end the lengthy 16-day pause in dealflow

US CLO PM leaves asset manager after 20 years
A managing director and CLO portfolio manager has departed the firm following a 20-year tenure

OC health check: CLOs wake up when September ends
September showed a slight but clear improvement in CLOs’ over-collateralisation test results as 182 CLOs breached an OC test during the reporting period, compared to 198 in August.

Voya and ArrowMark refinance fixed triple A CLOs
Voya Investment Management and ArrowMark Colorado Holdings have each refinanced triple A-rated fixed CLO tranches. The two transactions both priced yesterday and total $29.5 million

Four US CLO refis highlight diverging manager strategies
Four US CLO managers - Ares Management, GSO Capital Partners, Marathon Asset Management and Voya Alternative Asset Management - have each refinanced fixed-rate CLO tranches, with the four deals totalling $69 million in paper. But new strategies are beginning to emerge

CLO pipeline: primary tightening opens door for CLO managers to print new issues
The CLO primary market is hitting a fast pace as it enters the last quarter of 2020. Last week brought a surge of new issuance as 11 US, two European and one mid market CLO manager priced their latest transactions

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  

Global CLO b-wic round-up: CLO lower mezz tightens while equity investors strive for duration
A large supply of CLO paper flooded the secondary market last week as $1.5 billion of US CLO bonds and €370 million of European CLOs were listed, according to CLO-i

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

PGIM gives $150 million upsize to CLO that priced last month
PGIM has completed a rare feat by upsizing a US CLO in the window between its pricing date and closing date

OC health check: CLOs pay $1.3 billion on senior tranches as payment dates come due
Senior debt holders received $1.3 billion of principal from CLOs that breached an overcollateralisation test in July, a month in which the majority of scheduled payment dates fell. Of those deals suffering an OC breach, 190 were due to make a payment to noteholders and 57% were within reinvestment. 

US CLO manager to dance to its own tune with breakthrough CLO equity fund
A large US CLO manager is on the verge of a first close for a fund that will invest in the majority of its CLOs, ending its reliance on third-party CLO equity investors

Global CLO b-wic round-up: CLO lower mezz spreads tighten back after volatile two weeks
Secondary CLO spreads in the US and European markets have recovered after moving wider over the last two weeks

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

OC health check: CLOs heal up with no new breaches among US BSL deals
53 CLOs reported an over-collateralisation (OC) test breach last week, but only two CLOs breached an OC test for the first time, neither of which were US broadly syndicated loan CLOs

OC health check: CLO managers drop their breaches
114 CLOs reported overcollateralisation breaches last week, but only three deals reported breaches for the first time

OC health check: US CLOs show improvement as first euro CLOs breach multiple tests
15 deals reported a breach in an overcollateralisation test last week according to the latest reports available on CLO-i, including one European CLO and 14 US broadly syndicated loan CLOs.