PGIM and Sculptor add to CLO reset wave
PGIM and Sculptor Capital Management have thrown their hats into the CLO reset ring

PGIM opts for short-dated reset of 2017 European CLO
PGIM has opted for a short-dated reset on its 2017 European CLO, Dryden 52

AGL and PGIM reset and upsize 2020 CLOs
AGL Credit Management and PGIM are the latest managers to reset post-covid CLOs issued in 2020, with both managers opting to upsize their deals

Global CLO league tables - May 2021 YTD
Global CLO league tables - May 2021 YTD

US CLO league tables: CIFC makes big leap but CSAM and JP Morgan retain leads
There has been no change atop the US CLO league tables, but Credit Suisse Asset Management’s and JP Morgan’s leads are dwindling

European CLO managers bake in triple C flexibility
Three European CLO managers are understood to have embedded language in post-covid CLO documentation that affords them flexibility in managing triple Cs, according to market sources

CLO pipeline: queue gets longer as Blackstone goes again and Sancus makes first move
The queue to price for US CLO managers is only getting larger with 18 new issue CLOs in the pipeline, according to market sources, along with 18 repricings and two new issue European CLOs and two mid market CLO resets

PGIM prints new CLO with funding costs of just 156.1bp
PGIM's latest CLO offering, named Dryden 87, priced on Wednesday with 156.14 basis point funding costs

CLO pipeline: US market on track for June boom
CLO issuance is set to boom in the coming weeks with the pipeline ballooning as the market looks ahead to June

Post-covid CLO reset market heats up as Jocassee, PGIM and Oaktree price
The post-covid CLO reset spree is well underway as three managers - Jocassee Partners, PGIM and Oaktree Capital Capital Management - reworked deals that originally issued in April or May 2020

CLO PM set to leave PGIM ahead of move to London-based manager
A London-based mid-sized CLO manager has hired an official from PGIM 

Global CLO pricing lab: investors get over fatigue and embrace reset roll over
The demand for CLOs is showing no signs of slowing down after the market had experienced some fatigue at the end of the first quarter and into the second. In the last two weeks, there have been 47 CLO transactions across all forms of pricing in the three markets; led by 18 US CLO new issues

Global CLO league tables - April 2021 YTD
Global CLO league tables - April 2021 YTD

Record-breaking Apollo and Blackstone European CLOs make first distributions
Two 2020 CLOs managed by Blackstone Credit and Redding Ridge (Apollo) that set equity cover records in the secondary CLO market earlier this year have made their first payments

PGIM cuts 2017 CLO's funding costs by 32.2bp with refi
PGIM teamed up with Goldman Sachs to refinance 2019's Dryden CLO 72 on Thursday, reducing the deal's funding costs by 32.17 basis points in the process

CLO triple As leak wider but mezz comes in as Carlyle, PGIM and KKR price Euro new issues
CLO heavyweights Carlyle, KKR and PGIM all took to the primary market on Friday pricing a total of €1.22 billion issuance

CLO pipeline: go long! new issues and resets push refis aside
The CLO market is ready to go beyond refinancings - after this year's opening blitz of those deals - into the longer tenored territory of resets and new issues

$1.25 billion of CLO refis span range of tenors
The CLO primary market absorbed $1.25 billion of refinancings as American Money Management Corporation, First Eagle Investment Management, PGIM and Alcentra priced cost-cutting transactions, with different reinvestment periods across the pack

CLO pipeline: Deutsche Bank and Carlson hit comeback trail
The CLO market is preparing to be very active in the coming weeks, as the issuance slow-down is set to be in the rear view mirror

Five refis add $1.43 billion to CLO market
The CLO primary market has absorbed another $1.43 billion of refinancing paper as five managers printed cost-cutting transactions

CLO managers eye bonds as short-dated loan universe shrinks
European CLO managers that focus on bonds say they had flexibility in the first quarter as the new issue loan pipeline ramped up

Triple Bs diverge and loan tranches increase as KKR and PGIM reset CLOs
KKR and PGIM have become the latest managers to reset European CLOs

KKR matches PGIM CLO triple A print despite extra year of reinvestment
PGIM and KKR have turned to the primary market to refinance legacy CLO transactions, each placing their triple A notes at Libor plus 95 basis points

CLO pipeline: busy year, so let's take time to reset
The US CLO market this year has been dominated by new issues and refinancings, but now is the time of the reset judging by this week’s pipeline

Sterling-heavy loan b-wic points to PGIM CLO
A £233 million-equivalent portfolio of bids wanted in competition (B-wic) on loans, comprising £177 million worth of sterling paper and €65 million of euro paper, is almost identical to collateral of PGIM’s Dryden 63 GBP CLO 2018