World's largest CLO set for downsize to $10.5 billion
The largest CLO in the world is being tweaked with a partial redemption and an extension of its reinvestment period

Euro CLO single As and triple Bs could tighten by 10bp with CVC refi
CVC Credit Partners is looking to refinance the five most senior tranches of its 2018 European CLO, CVC Cordatus Loan Fund VII. Price talk on mezzanine tranches suggests a big shift in prevailing spreads  

European CLO triple As set to reach 80bp as Jefferies aims for big impact on first deal
Jefferies is close to arranging its first new CLO in Europe having launched Permira Debt Managers’ latest deal, Providus CLO V

Global CLO b-wic round-up: 2020 deals trade at premium
As the primary CLO market continues to grind tighter, the secondary market is holding steady, but last year's vintages are trading well as they near the end of their call-locks

Assured hits benchmark in second pairing with Barclays on European CLO
Assured Investment Management has teamed up with Barclays to print its latest European CLO, BlueMountain Euro CLO 2021-1

Euro CLO repricing hits €4bn as Jefferies arranges first deal and Investcorp drops double Bs
Spread compression is driving European CLO refinancing activity, with three transactions pricing on Friday: Carlyle Euro CLO 2017-2, Harvest CLO XVI and Man GLG Euro CLO III

CLO equity record broken again as Blackstone European deal trades over 116
Within eight days of Redding Ridge Asset Management setting a record for the highest cover on a European CLO equity bond, Blackstone Credit has brushed it aside to claim top spot  

Invesco Euro CLO refi cuts 41.5bp from financings costs
Invesco has refinanced the four most senior tranches of its inaugural 2.0 European CLO. JP Morgan cut financing costs on Invesco CLO I by 41.48 basis points

Oak Hill pairs with Citi on first new issue European CLO since 2018
Oak Hill Advisors has printed its first new issue European CLO in over two years and its first primary CLO transaction in Europe since a refinancing in 2019

CLO pipeline: snow business like the CLO business
CLO issuers are putting aside the cold snap and are warming up with a flurry of deals.

PGIM resets Dryden 44 and switches from six-month to three-month Euribor
JP Morgan has arranged the reset of PGIM's 2016 vintage Dryden 44, switching paying liabilities from semi-annual basis to quarterly

European CLO head becomes latest PM to leave asset manager after announcing retirement
A large European credit manager has had a number of departures across its CLO and direct lending businesses in recent weeks

Investcorp preps first CLO refi in Europe with triple and double Bs since 2019
Investcorp Credit Management is working with Deutsche Bank to refinance six tranches of its 2018-vintage CLO named Harvest XVI

Redding Ridge equity covers at 116 for new European CLO record
Redding Ridge Asset Management set a new record on Wednesday as €5.2 million of RRE 4, a 2020 vintage CLO, traded in the secondary CLO market with a cover of 115.8

Neuberger Berman breaks through into European CLOs
Neuberger Berman has become the latest debut in the European CLO management, the 20th manager to do so since 2018

Global CLO b-wic round-up: US lower mezz trades strong, but European piece softens
CLO investors have had no chance to catch their breath after a historic 2020 as US CLO secondary volume reached $3.3 billion and European secondary listings topped €1 billion in January

Assured markets first new issue European CLO in over 15 months
Assured Guaranty is marketing its first European new issue CLO in 15 months, BlueMountain Euro 2021-1

European CLO triple As go tighter still as KKR prints at 83bp
Triple A spreads ground tighter in January with KKR’s latest European CLO

CLO pipeline: OFS to make comeback as 2020 absentees eye new issues
As liability spreads tighten day by day, the CLO pipeline is filling fast. 2020 absentees are joining the parade as four US managers and three European managers aim to return to the new issue market after taking a break of 12 months or longer

OC health check: CLOs end 2020 with fragile recovery
Only 109 CLOs breached an overcollateralisation test in December, falling from 121 in November. This in turn was down from the 147 CLOs that breached an OC test in October, but 33 cured their breaches in November and a further 11 cured all OC test failures in December

Redding Ridge prices European CLO triple As at tightest levels since July 2018
A new triple A benchmark has been set for European CLOs with Redding Ridge pricing triple A notes at Euribor plus 87 basis points, inside its low/mid 90s guidance

Jefferies picks up three big mandates to get European CLO plans rolling
Jefferies has taken huge strides towards building out its European CLO arranging business with sources indicating the bank has won mandates from three managers

European reset wave begins as Partners reworks 2018 CLO
Partners Group’s Penta CLO 5 has become the first European CLO to reset in 2021

CLO pipeline: 2020 absentees join new issue rush
The CLO pipeline is growing by the minute as managers prepare their first new issues of the year after varying lengths out of the market

US CLO manager rekindles European CLO ambitions as it launches debut 2.0
A large US CLO issuer has revived its European CLO plans, more than two years on from its failed attempt