European CLO equity distributions keep getting better, US keep getting worse
The latest distributions for post-reinvestment US CLOs show the impact of rapid prepayment rates, but post-reinvestment European CLOs are bucking that trend and seem to be improving with age.

European CLO Rankings - February 2024 YTD
Our latest rankings for the European CLO market, including arranger and manager league tables

US MM CLO Rankings - February 2024 YTD
Our latest rankings for the US middle market CLO market, including arranger and manager league tables

US BSL CLO Rankings - February 2024 YTD
Our latest rankings for the US BSL CLO market, including arranger and manager league tables

Tightest European new issue CLO this year prices
European new issue spreads for 2024 nudged down to a new benchmark on Tuesday, with the triple-As hitting 147bps

CVC keeps it tight for new European CLO
CVC Credit Partners hit a milestone on Thursday when it priced CVC Cordatus Loan Fund XXX, which matched this year's benchmark AAA spreads

CLO round-up: February 2024
Our roundup of all the action in another spectacular month for the CLO market

Unfunded single-B issuance steps up as Bridgepoint triggers class F note
Bridgepoint Capital Management this week became the latest in a string of managers to price a delayed-draw tranche in 2024

Palmer Square stays still for latest European deal
Static deals made a reappearance in the primary market yesterday, when Palmer Square Capital Management priced a new European CLO in conjunction with JPMorgan

Missing Milbank CLO team surfaces at rival law firm
A global law firm has announced the arrival of veteran European CLO lawyer John Goldfinch, one of the partners who pushed Milbank to the top of our European manager counsel league tables last year

Second European delayed draw tranche prices
Five Arrows Managers priced the delayed-draw single-B tranche of 2023’s Contego CLO XI on Thursday, marking the second such deal of 2024

Fresh wave of CLO calls looms as US equity distributions drop
Equity distributions for US CLOs outside their reinvestment period continue to fall as prepayments cut into cashflows

AlbaCore joins European renaissance with new CLO
European credit specialist AlbaCore Capital priced its latest new-issue European CLO on Tuesday, its sixth deal in this asset class

Partners Group follows KKR below 150 for new European CLO
Partners Group has followed KKR in dipping below the 150 level for European triple-As, with a new issue arranged by JP Morgan weighing in at EUR 403.4m on Wednesday

European triple As drop below 150 as KKR prices new CLO
The somewhat limp activity in the European primary market so far in 2024 was given a kick along on Friday with the pricing of Avoca CLO XXIX, a new EUR 402.85m BSL CLO from KKR

European CLO Rankings - January 2024
Our latest rankings for the European CLO market, including arranger and manager league tables

CLOs round-up: Jan 2024 - back with a bang
Our roundup of CLO primary activity in January shows that the market got off to a dramatic start in January, especially in the US BSL space

European CLO primary spreads still have a long way to go
Are European CLO spreads in the primary market cheap or expensive? Our latest research shows that while US managers can celebrate AAAs reaching the 150s, in Europe spreads still have a long way to go to reach historical norms.

Blackstone is back as the largest CLO manager in the world: 2023 manager rankings by AUM
Our full-year 2023 rankings for CLO managers by total CLO AUM are out, with Blackstone moving into top place.

The Caribbean is back on the menu as EU announces removal of Cayman from its blacklist
On 18 January 2024, the European Commission published the Delegated Regulation (EU) 2024163 in the Official Journal of the EU, announcing that the Cayman Islands will be removed from its anti-money laundering list of 'high-risk third countries'

Apollo redeems ALME Loan Funding V CLO via BWIC
Apollo is the seller of the EUR 237m BWIC that was due on 16 January as it liquidated its ALME Loan Funding V CLO

Expect to see a European MM CLO this year, conference hears
A European middle-market CLO is closer than ever to becoming a reality in 2024, according to the consensus view at S&P Global’s 2024 Structured Finance Outlook

Global CLO rankings - FY 2023
Our full rankings for the global CLO market, including arrangers, law firms and trustees

European ABS and CLOs rally on Fed rates forecast
Trading activity in European ABS and CLOs was strong on Thursday (14 December) after the Federal Reserve signalled it would cut rates in 2024