Credit Rendezvous: Credit spins full circle
The third quarter was massive in terms of volumes with CLOs, high yield, leverage loans and private equity registering record issuance. But credit spreads were up and down as inflation fears, crackdowns in China and rising coronavirus cases became catalysts for risk-off sentiment in July and September

BNP Paribas markets Partners European CLO new issue and PGIM reset
BNP Paribas is marketing a new issue European CLO managed by Partners Group and PGIM’s reset of its 2018 vintage deal Dryden 69, according to market sources

Everyone’s ramping

Credit funds at a glance (October 2021)
A round up of fundraising and people moves in credit

Past returns: Black Diamond riles investors
10 years ago in Creditflux, we reported on lawsuits against Black Diamond Capital Management after it tried to make $45 million of trades in Black Diamond CLO 2005-1 using cash the deal hadn’t yet received

CSAM regains best manager throne
Upstart CLO managers overtook more experienced rivals at last year’s Creditflux Manager Awards, but CSAM and other large firms, such as PGIM, emerged victorious in London this time around

PGIM prints rare three-year reinvestment CLO via Barclays
PGIM teamed up with Barclays on Friday to print a rare three-year reinvestment CLO

US CLO pipeline: 1.0 manager returning, Carlyle going for CLO 10 as market goes to 100
Never in 1,000 years would the critics have expected this 

PGIM upsizes late 2020 CLO by over $50 million
PGIM has teamed up with BNP Paribas to reset its September 2020 CLO named Dryden 85, upsizing the deal by $51.6 million in the process

European CLO manager of the year PGIM strikes while the iron is hot as it markets new issue
One week after bringing home two prestigious awards at the Creditflux 2021 Manager Awards, PGIM is on the road marketing its latest new issue European CLO

CLO investor set for promotion as PGIM reveals leadership changes
PGIM has assigned additional responsibilities to three figures in its fixed income division as it revamps its leadership structure. As a result, well-known CLO tranche investor Edwin Wilches is set to become promoted to co-head of securitised products

US CLO pipeline: 33 new issues enter market with historic CLO records on the verge of shattering
The US CLO market is running as hot as it has all year with a whopping 33 managers marketing new issues CLOs, according to market sources

PGIM brings 2021 US CLO issuance to $1.8 billion after printing third new deal
PGIM issued its third new US CLO of the year on Thursday, bringing its 2021 issuance volumes up to $1.8 billion

CLO pipeline: Carlyle unstoppable as PGIM looks to tighten double As
The CLO machine is refusing to slowdown, churning out deals as the US market is set to welcome a flurry of deals in the coming weeks – with 18 new issues, 14 resets and 10 refinancings in the marketing stage.

Nuveen and SocGen pair for first time on new CLO with tight triple As
Nuveen priced its second new issue CLO of the year on Tuesday, via SocGen

PGIM becomes third CLO manager to print triple As at market tights
PGIM priced its latest new CLO on Thursday, becoming the third manager to place its triple A notes at the quarterly market tight of 112 basis points over Libor

CLO pipeline: four US and two European managers prepare first 2021 CLOs
The CLO market is set to carry on roaring with the pipeline as full as ever despite the summer slowdown just around the corner  

Siaci €202 million loan to leave CLOs after merger as new debt guided in low 400s
Burrus has outlined price talk on an €850 million loan backing its acquisition and merger with Siaci, a popular CLO credit

CLO investors don Euribor caps to hedge rising rates
Euribor-capped tranches have made a comeback in European CLOs, with AIG and PGIM understood to be behind them. Sources say PGIM has been investing in triple A-rated tranches, while AIG has taken on double-A rated tranches

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