January issuance smashes records as spreads tighten
The CLO market blazed hot in January, breaking issuance records and pushing spreads down to near-historical lows. Market participants are positive about the rest of the quarter, but predict headwinds on the horizon.

Palmer Square prices tightest static European CLO in three years
Palmer Square has printed a static deal with triple-As hitting 85bps over base rate

Investcorp sets new low for fixed-price AAs with latest Euro CLO
The newest new-issue print from Investcorp also priced close to current tights through the mezz  

UBS refinances 2020-vintage US BSL CLO
UBS has refinanced a CLO following a reset in 2021 when the CLO was managed via the CSAM platform    

Largest CLO ETF in market balloons to USD 20bn in assets
After record inflows in 2024, January Henderson's triple-A ETF in January saw the fund add an addition USD 3bn in assets  

Silver Point prints new middle market deal in specialty credit series
The USD 474m private credit issue comes two months after the manager held a final close for Silver Point Specialty Credit Fund III  

Wellington prices impressively tight with latest new-issue CLO
The Boston-based asset manager is building a reputation for pricing tight deals despite its newness to the market    

European ABS, CLOs tighten as secondary trading picks up
Secondary spreads for both ABS and CLOs in Europe tighten this week, notably for mezzanine tranches

US CLO roundup – US spreads fall to 'historically tight' level
The year kicked off with a bang for US CLOs with a major new tight and investor demand running red-hot

CIFC’s first new issue of year prices triple-As at 115
The top of the stack for the US BSL CLO was just 2bps outside the current market tight    

HPS's massive deal sets new low for private credit CLO spreads
HPS has priced its first new private credit CLO since its purchase by BlackRock, clearing a massive USD 1.25bn deal 

Bain and CVC are marketing new European CLOs looking to price next week
Price talk is circulating for two new European CLO issues from Bain and CVC, both valued at around EUR 405m and arranged by Jefferies  

Euro CLO roundup – January spreads tighten in, with promise of more to come
With top-of-stack spread tights having already narrowed by six basis points from the end of last year, deal guidance indicates that February will see further tightening

Apollo and Churchill set new low for middle-market CLO spreads
New deals from Churchill and MidCap have triple-A coupon spreads inside the tight set late last year by Blackstone  

Permira shifts away from CLO investing with head of structured credit Saeed set to depart
Permira is deprioritizing its CLO investment business as a stand-alone strategy, with CLO investing veteran Jihan Saeed leaving in March  

Brigade scores its tightest cost of funds ever in new US BSL CLO
The manager secured its lowest overall cost of funding thus far with its first new US issue of 2025  

Oaktree reprices two US CLOs in two days
Oaktree priced a reset and refi at the end of last week as it kicked off its primary market issuance for 2025  

High yield deals pricing far inside of IPTs as January demand drives tightening
High yield bond deals are tightening faster and further from initial price thoughts (IPTs) in 2025, compared to the last quarter of 2024 

Trimaran prices first deal for 2025 with half-billion-dollar new issue
The deal is the first print from Trimaran Advisors since November

New Mountain resets its debut US CLO a second time
New Mountain Capital has reset the US BSL deal that marked its debut as a CLO manager for the second time

Napier Park resets US BSL CLO from 2021
Napier Park has priced its first CLO transaction of the year with a reset of a 2021-vintage deal

Irradiant substantially changes US CLO in reset of 2023 vintage deal
Irradiant Partners has reset a US CLO, via Nomura, adding extra tranches in the process

Ares refinances 2019 US CLO for second time
Ares Management has refinanced a 2019 vintage US BSL-backed CLO for the second time via Societe Generale

Allstate sets new tight for triple-As for US CLOs this year
Allstate sets new lows for US BSL triple-As, clearing latest new CLO at SOFR plus 113bps