Beneath the triple C: Stormy October hits CLOs with rising tide of downgrades
After a slight respite in the pace of downgrades over the summer for CLOs, October brought renewed momentum as macro-economic pressures - primarily high interest rate burdens for corporate borrowers and supply side inflation - became the recurring rationale

CVC and PGIM add to European CLO new issue surge
CVC and PGIM joined Ares, Neuberger and Oaktree in pricing new issues last week

US CLO league tables: Usual suspects keep market rolling as Citi moves within $1 billion of BofA
October experienced $7.1 billion of US CLO issuance with over half of that priced by the managers that occupy one to eight in the US CLO new issue league tables

Global CLO league tables - October 2022 YTD
Global CLO league tables - October 2022 YTD

eBay and IBM lead as US firms plug-in to CLO triple As
Major US corporations eBay and IBM have begun investing in senior CLO debt tranches, while Apple has also been looking to enter the market.

CLOs at a glance (November 2022)
A listing of CLOs that have priced in the last month

Creditflux CLO Census results: JP Morgan claims clean sweep of US CLO arranging categories
Following the close of this year’s census, JP Morgan was a quadruple winners in the US, with results declaring it the best at syndicating, structuring and providing both the best access to loans and the best warehouse service

PGIM prints five-year US CLO as investors brace for spreads to move wider
PGIM has marked a quick return to the US primary CLO market by pricing Dryden 106 on Tuesday via Nomura. But the overriding feeling is that primary CLO spreads are vulnerable to another bout of volatility

US CLO pipeline: MidOcean and Seix look to end three-year drought as others rock and reload
14 US CLO managers are in various stages of marketing their latest offerings, with a wide scope of names for investors to choose from

PGIM to pair with Nomura for second new US CLO of 2022
PGIM is working with Nomura on a forthcoming CLO named Dryden 106, which is set to be the manager's second new issue arranged by the bank this year

Euro CLO league tables: elements combine to give Redding Ridge new issuance lead
Do you remember, the 16th night of September? What a time to be a European CLO manager... 

US CLO league tables: BofA’s big month opens gap with Citi but Palmer Square closes in on Blackstone
After a quiet August, the US CLO market returned to what is the new normal (or new, new normal depending on the timeframe you're using). Managers priced $11.3 billion of US CLO paper last month, extending a trend

Global CLO league tables - September YTD
Global CLO league tables - September YTD

CLO managers find safety and return potential in IG
An investment grade bond might not seem the most suitable candidate for a CLO portfolio, but managers are increasingly going up the capital structure as they brace for a recession.

PGIM goes short with new three-year reinvestment CLO
PGIM priced a new CLO on Friday, opting for a shorter-dated structure with a one-year call-lock and three-year reinvestment period

US CLO pipeline: $100bn new issue mark about to be surpassed
Seven US CLO managers join one holdover in the new issue US CLO pipeline this week, as the market bears down on $100 billion of new issuance in 2022

Boston-based investor looks to sell entire equity tranche of 2020 PGIM CLO
An unusual equity position is on sale on the secondary market today at 9.30am EST (2.30pm London time) as the entire equity tranche of Dryden 83 has been listed

Global CLO league tables - August 2022 YTD
Global CLO league tables - August YTD

US CLO league tables: Citi closes in on BofA’s lead
Despite market slowdown, US CLOs continue to produce steady monthly volumes over the $10 billion mark. July brought an influx of $11.99 billion to the US market from 28 new issue deals

PGIM scores new CLO with five-year reinvestment period
PGIM priced a new $494.3 million CLO on Thursday via Citi named Dryden 104 CLO

PGIM goes for three years of reinvestment with new US CLO
PGIM opted for a shorter three-years of reinvestment on its latest CLO

Euro CLO league tables: Permira and Barclays Providus with sole new issue
Just one manager priced a European CLO priced in June, when Permira Credit and Barclays brought Providus VII to market

Global CLO league tables - June 2022 YTD
Global CLO league tables - June YTD

CLOs at a glance (July 2022)
A listing of CLOs that have priced in the last month
 
 

   

CLO pipeline: large managers defy loan drought to keep market moving
US CLO senior spreads may have blown out to 180-190 basis points over Sofr for five-year deals, and even wider for short-dated new issues, but that will not stop the market from soldiering on