Blue Owl kicks off October with a two-for-one US CLO deals
Blue Owl has priced a new private credit CLO as well as refinanced a 2018-vintage BSL CLO 

US CLO primary roundup - 1 October 2024
After one of the busiest ever weeks in the US CLO primary market we're almost caught up with the new deals pricing. Here's the summary of what we've added.

CIFC sneaks in fourth September deal with 2018-vintage US reset
CIFC's busy September continued with a reset of CIFC Funding 2018-II, a US BSL CLO reset arranged by Citi

Golub prints middle market reset with tightest cost of debt this year
Golub Capital teamed up with BNP Paribas to print a middle market CLO reset that produced one of the tightest costs of debt for a private credit deal this year

UBS upsizes equity in reset of 2016 vintage US BSL CLO
UBS Asset Management and CIBC reset a 2016 US BSL CLO, but at the cost of heft equity injection

Investcorp's head of European credit funds Philip Yeates leaves firm amid leadership shake-up
Philip Yeates, head of European credit funds at Investcorp, has left the firm as the asset manager undergoes a leadership shift that's seeing co-CEO Hazem Ben-Gacem set to depart later this year and executive chairman Mohammed Alardhi take on CEO duties

Angelo Gordon refinances CLO that turned heads with step-up structure
Triple-A investors in the Northwoods Capital XII-B reissued step-up tranche had a great run, but have now be refinanced

It’s 135 bps again as TCW resets 2018 vintage CLO
The latest US BSL CLO reset from TCW and Jefferies hit the 135bps triple A benchmark

Benefit Street makes big equity injection in reset of 2018 vintage CLO
Benefit Street Partners has reset Benefit Street Partners CLO XIV, adding USD 77.16m of equity in the process

CLO round-up: Market braces for a busy September
The US and European CLO markets are bracing for a flood of deal activity from market participants as the fall season kicks off

Post Advisory Group resets debut 2018 CLO
Los Angeles-based Post Advisory Group reset its debut deal with the senior triple-As priced at 137bps over SOFR

Neuberger Berman resets 2018-vintage CLO
Neuberger Berman and Scotia have priced a reset of a US BSL CLO that was untouched since its original pricing in May 2018

Barings prices reset of 2023 middle market CLO
Barings has reset a 2023-vintage static CLO into a reinvesting deal, bringing in the triple-As 77bps at the same time

UBS resets 2018 vintage CLO from CSAM stable
UBS reset a 753.05m US BSL CLO issued by CSAM in 2018 with BofA arranging the new deal

PGIM refinances US CLO deal from 2018
PGIM refinanced a a USD 398.83m US BSL CLO from 2018 arranged JP Morgan

CLO round-up: CLO market sees slight pressure to widen new issue spreads
CLO market saw robust deal activity with some pressure on liability spreads last week

CVC refinances Apidos XXX CLO
CVC prices a refinancing of 2018 deal called Apidox XXX via RBC

Voya completes US reset via Santander
Voya yesterday reset and upsized a 2018-vintage US BSL CLO, cutting the cost of funding on the deal’s junior AAAs, AAs and BBs

Relating arbitrage, issuance and equity
Day one arbitrage remains a key metric for CLO equity investors. But how does the US BSL CLO arb today compare with historical averages? And does the figure impact deals’ equity returns?

CIFC resets 2014 CLO it reissued in 2018
CIFC and Noumura have printed a reset of the US BSL CLO CIFC Funding 2014-II-R

Antares sets tightest AAA spread for middle-market CLO reset
Antares Capital priced a reset last week of middle-market deal Antares CLO 2018-3, setting a new tight for the year of 159bps in the process

UBS resets CLO from 2018
UBS Asset Management has reset Madison Park Funding XXX, a US BSL CLO dating back to 2018

KKR refinances 2016 vintage KKR CLO 15
KKR Financial Advisors has printed a full refinancing of KKR CLO 15, a US BSL deal that originally debuted in 2016

Deerpath resets debut MM CLO for the second time
Deerpath Capital Management has priced a reset of US middle-market deal Deerpath Capital CLO 2018-1, the first-ever CLO from the manager

Bain refinances US BSL CLO from 2018
Bain Capital on Wednesday printed a refi of a US BSL CLO with a senior spread just shy of the tightest seen in a US BSL refi so far this year