AlbaCore reworks 2024-vintage Euro CLO
The capital structure remained unchanged in the EUR 382m offering – the manager’s second deal of the year

Fed cutting cycle could decrease demand for CLOs—Barclays
Rate cuts present a slight headwind for nominal CLO demand but should be more neutral for spreads and supply, a recent credit strategy research report says; could be boost for CLO equity

Fidelity reworks Euro CLO, 18 months after reissue
The manager reset Fidelity Grand Harbour 2022-1 on Wednesday via JPMorgan

Atlantic Avenue prices fourth CLO, first of 2025
The US CLO manager owned by Connecticut-based MC Credit Partners has returned to primary issuance after 10 months

Resets prove lynchpin of US issuance as deal flow ramps up
US CLO issuance this week was dominated by a brace of resets, with deals issuing from the likes of AGL, AMMC, PPM, Sycamore Tree and Saratoga Investment Management

Barings, Benefit Street latest to price US resets at 125
Barings reworked a two-year-old CLO, while Benefit Street Partners issued its fourth reset of a serially-repriced 2014-vintage deal

Polus plans to enter CLO mezz tranche investing
EXCLUSIVE: Polus Capital Management continues building out US CLO management business and sees opportunity in mezz tranche investing

 

Price talk emerges for Royal London's first ever CLO
The asset management arm of the UK insurance and pensions group is marketing its first European deal via Goldman Sachs

Investcorp prices 2020-vintage US reset
Investcorp’s 11th CLO issue of the year has priced via CIBC, issuing its top-of-stack paper at SOFR plus 130bps

European BB CLO tranches most susceptible to downgrade – S&P Global
Triple-A tranches demonstrate “significant stability,” according to the ratings agency

US resets price from Barings, CVC and Western Asset Management
A trio of US BSL resets from CVC, Barings and Western Asset Management toward the end of last week added over USD 1.3bn to August’s final issuance tally

Diameter, Silver Point shop first Euro deals to become new European CLO managers
EXCLUSIVE: The two deals add to a busy September pipeline, which also includes the expected debut for Royal London as a first time manager

Royal London pre-markets inaugural European CLO
EXCLUSIVE: The asset management arm of the Royal London Group is set to make its CLO management debut in September

Private credit CLOs boom to new high
The middle market is seeing record levels of issuance as the smaller corner of the CLO space draws more investor interest, while US BSL primary activity chases 2024 levels

Hayfin adds to surge of short-dated August Euro resets

End of week sees private credit CLO issuance rush
The mid-market saw a flurry of issues from Eldridge, Churchill, StepStone and BlackRock toward the end of last week, with the total value of the four deals across Thursday and Friday totalling over USD 1.5bn

Allstate records new AAA tight for US resets with 2015-vintage repricing
Benchmark triple A spreads for US resets have followed those for new issues in tightening to the mid-120s, with Allstate pricing a reset of AIMCO CLO, Series 2015-A

TwentyFour’s ABS co-head eyes CLOs and prime RMBS, predicts record issuance
Aza Teeuwen says European CLO and ABS issuance could hit EUR 175bn this year, while he sees value in triple A CLO tranches

Credit quality of European CLOs improved since start of year – Fitch
A new report from Fitch Ratings points toward higher quality CLO portfolio credit in the year to date, despite a lower default recovery rate

Upgrades outpace downgrades in triple C tranches of CLOs in July – BofA
Despite July's reversal, the pace of triple C downgrades remains significant, BofA said, and is expected to reach 8% for triple Cs

Shenkman affiliate Romark prices year's first CBO
The deal follows a similar issue last July - itself the first new CBO priced in over two years

The top five holdings of July’s CLO ETF launches in Europe
A round of high-profile CLO ETF launches by BlackRock, PGIM and UBS in Europe and their top holdings in July

Private debt market fundraising shows shift to Europe – Goldman Sachs
Private credit market fundraising has been pivoting to Europe, while global defaults remain below historical averages, according to new research from Goldman Sachs

KKR resets short-dated US deal from last year
The USD 373m reworking renewed KKR CLO 45a on a standard 2Y/5Y timeline

UBS launches firm’s first European CLO ETF
The UBS EUR AAA CLO UCITS received approval in Luxembourg last month