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CLO pipeline: Sculptor begins to mould its first CBO
5 years ago
Silence! Artist at work: Sculptor has got its apron on and is shaping up to launch its first CBO -
Global CLO b-wic round-up: volumes jump as investors get their triple A fix
5 years ago
The US CLO secondary market brought over $1.2 billion in total listings last week with the main driver behind last week’s supply being an increase in US CLO triple A bonds and an anchor equity position. -
Global CLO round-up: Europe mops up demand, as Euribor hits the floor
5 years ago
The final stretch of the year began with a bang, with the first week of Q4 bringing $3.3 billion of CLO issuance in the US and €1.2 billion in Europe. But the resurgence in volumes was not the only talking point last week, with Europe coming into focus as spreads surfed tighter -
Global CLO b-wic round-up: control stake trades as junior notes come to the fore
5 years ago
The European and US CLO secondary markets produced high volumes of junior and subordinated notes last week. Over 30% of listings were rated as equity, single B or double B. -
Global CLO b-wic round-up: US and European double B trading patterns diverge
5 years ago
48% of the CLO secondary market was made up of triple A bonds; $255.6 million of US CLOs and €108.55 million of European CLOs. But there were differences in how CLO double Bs are trading in those markets. -
18% of CLO managers priced their first deals post-January 2018, says Maples
5 years ago
Launching a new CLO management platform is ‘extremely difficult’ although the rewards appear to be worth the risks, according to new research from Maples Group -
CLO pipeline: new kids in class look to excel on first assignments
5 years ago
The summer holiday is well and truly over with the European CLO market building on last week’s momentum as three new deals and one reset are to enter the primary market. -
CLO pipeline: managers look to avoid a repeat of 2018 with new issue flutter
5 years ago
US and European CLO managers are preparing to up the ante in September, but they will have to defy a trend set a year ago -
THL updates credit investment framework to include ESG
5 years ago
THL Credit Advisors has announced that it has developed an investment framework for assessing environmental, social, and governance (ESG) factors in analysing credit quality and risk factors -
Global CLO b-wic round-up: secondary market awakens with control equity bonanza
5 years ago
Four anchor positions made available on secondary market as equity accounts for over a third of all volumes. -
EQT looks to raise €500 million via IPO
5 years ago
The initial public offering is anticipated to increase EQT's flexbility to “pursue growth opportunities” and expand its private market investing business -
One day, two investors, three CLO controlling stakes in secondary
5 years ago
Two investors are inviting bids for anchor positions they hold in three CLOs. -
ESG standards leak into CLO ratings
5 years ago
Investor sentiment is shifting with an influx of new participants—and borrowers will also take note -
CLO pipeline: Carlyle and KKR plan swift re-entries
5 years ago
Carlyle Group and KKR are included in the CLO pipeline this week as both managers have started marketing their latest transactions as the US CLO pipeline begins to look full after a quiet week -
Global CLO b-wic round-up: 71% of equity positions trade as supply picks up
5 years ago
The European and US secondary CLO market took a step back this week as the primary CLO generated $7.8 billion of deal flow globally -
Credit plays a big part as KKR increases AUM by $6.5 billion
5 years ago
KKR grew its assets under management by 8% over the second quarter, according to the firm’s earnings call, which took place on Thursday. -
CLO pipeline: CSAM and Octagon look to move further ahead of the chasing pack
5 years ago
The CLO pipeline in all three markets looks similar to last week with a reduction of only around $500 million in predicted new issue volumes in each of the US, European and mid market CLO spaces. But all three of these market segments look healthy with new issues and refinancings being favoured by managers -
CLO pipeline: there's no drought here as market is doused with deals
5 years ago
Deal-makers have been taking in their H2O with little sign of summer slowdown in the CLO market as the pipeline approaches full force -
CLO investor looks to offload US and European anchor equity positions
5 years ago
There are two controlling CLO equity stakes up for sale today with a 2017 European deal and a reissued US transaction going under the hammer -
Global CLO round-up: it's time to rethink benchmarks
5 years ago
The CLO market broke out of holiday mode last week by presenting strong issuance on both sides of the Atlantic - $2.8 billion in the US and €1.6 billion in Europe. High volumes have brought with them bigger shifts in market dynamics. This week put the focus on tightening spreads, as benchmark triple A levels dipped. -
Global CLO b-wic round-up: control equity hits the market as secondary market picks up
5 years ago
The CLO secondary market in both Europe and the US brought healthy volumes last week. There was €174.9 million listed in the European CLO secondary market, while the US returned a with just over $600 million in CLO b-wics. -
Another 2008 would leave IG CLOs without losses but default rates will climb, says BofE
6 years ago
CLOs will see greater losses in a downturn than they did in the last financial crisis, according to the Bank of England’s Financial Stability Report -
Calpers misses returns target despite fixed income outperformance
6 years ago
California Public Employees' Retirement System (Calpers) has missed its annual investment target despite strong performance from its fixed income portfolio, which was its top performer -
The IRR of CLO equity is driven by far more than just initial spreads
6 years ago
No one ever says the CLO equity arb looks great. But even in particularly challenging periods there are ways for equity investors to generate strong returns -
Global CLO b-wic round-up: secondary volumes make up for slump in primary
6 years ago
June saw the highest volume of US CLO b-wics this year with over $3.8 billion of US CLOs on the auction block, according to CLO-i.
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