AGL prices tight CLO triple As as market shifts wider
AGL Credit Management achieved tight execution on a US new issue CLO

CLO triple As lag recovery as IG relative value opens up
The CLO market rebounded in late April after a volatile two months following Russia’s invasion of Ukraine, but triple A notes have lagged the recovery even as mezzanine debt tranches tightened

AGL delves into static CLOs with its first non-reinvesting deal
AGL Credit Management on Monday priced its first ever static CLO

LP round up: Oak Hill wins $3bn mandate as credit allocations near $10bn in March
Institutional investors revealed over $9.5 billion of allocations to credit funds in March. Oak Hill Advisors walked away with the largest mandate, as US heavyweight pension Calpers allocated a whopping $3 billion across several of its funds

CLOs at a glance (February 2022)
A listing of CLOs that have priced in the last month

CLOs and loans find footing as post-Sofr trends emerge
The US leveraged loan and CLO markets transitioned to a new base rate from 1 January without the lengthy issuance pause that was widely predicted in the months leading up to the switch

Migration into floating rate kicks off with record loan inflows
The leveraged loan market received record-breaking inflows from retail funds in January as investors pivoted into floating rate products in advance of interest rate rises

LSTA adds US CLO specialists Comer and Russell to its board
AGL's Wynne Comer and Morgan Stanley's Rachel Russell are two of four new members of the LSTA's board, replacing four members who have served multiple terms

AGL prices US CLO with triple As at Sofr plus 133bp
AGL Credit Management on Monday issued its first CLO with liabilities linked to Sofr

CLO managers show respect to their elders
Alongside lucrative new issues, managers also make time for refinancing and resetting old deals. Our data shows that, in 2021, mid-sized firms were the most effective at this balancing act

AGL and Blackstone place new CLO triple As at 113bp
AGL Credit Management and Blackstone Credit each priced a new CLO on Tuesday, with both deals securing triple A prints of Libor plus 113 basis points

AGL issues fourth core CLO with low leverage ratio
AGL Credit Management has priced the fourth in its 'core' series of low-levered CLOs, pairing with BNP Paribas to print the deal

US CLO pipeline: Carlyle and Blackstone aim for CLO-a-month 2021 as BlackRock goes for baker's quadruple
The Thanksgiving holiday has not dampened the US CLO market’s appetite as a flurry of deals are set to price in the next couple of weeks. That includes 18 new deals, 11 resets and seven refinancings in the US

AGL's 2021 CLO volume rises to $2.7 billion with fifth new issue
AGL Credit Management priced its fifth US CLO of the year on Friday, bringing its issuance volume for 2021 to $2.7 billion

AGL upsizes late 2020 CLO by $25 million with reset
AGL Credit Management reset its late 2020 CLO named AGL Core CLO 8 on Wednesday, upsizing the deal by $25.38 million

Global CLO trading lab: bank sells $834 million triple As in quarterly reallocation as hedge fund trades CLO equity
Thursday’s secondary CLO market was the busiest of 2021, with over $1 billion of US CLOs on offer. This featured an enormous b-wic worth $834.3 million, where sources have told Creditflux of the bank behind the aucton. While a large credit hedge fund is said to have sold out of control CLO equity 

AGL upsizes debut CLO by $54 million with reset
AGL Credit Management reset its debut CLO from 2019 named AGL CLO I on Friday, upsizing the deal by $54 million in the process

Everyone’s ramping

Banks reject mandates amid loan surge as settlement lengthens
M&A bankers are turning down mandates and settlement times for US loan trades are extending as understaffed desks struggle to cope with record deal volumes

US daily new CLO volume tops $2 billion yet again as AGL prints $600 million deal
AGL Credit Management priced a new $601.55 million CLO on Friday as US new issue volumes topped $2 billion for the fourth time in the last week

Variety of US CLO-eligible loans makes ramping up a joy [CLO Symposium video]
A buoyant US CLO market is basking in a golden summer with record issuanc. Speakers at Creditflux’s CLO Symposium earlier this month pointed out a vibrant loan market means CLO issuers are spoiled for choice

AGL and Partners upsize legacy CLO deals with resets
AGL Credit Management and Partners Group each priced a CLO reset on Monday, with both firms opting to upsize their legacy deals in the process

AGL and Blackstone reset and upsize post-covid CLOs from 2020
AGL Credit Management and Blackstone Credit added to their respective 2020 CLO reset sprees on Monday, with both managers upsizing their post-covid deals

AGL and PGIM reset and upsize 2020 CLOs
AGL Credit Management and PGIM are the latest managers to reset post-covid CLOs issued in 2020, with both managers opting to upsize their deals

Lighten up, these are due an upgrade
CLO triple C buckets were overflowing last year, but the average exposure is now 7.3%. That is still close to trigger levels, but CLO managers are relaxed, as further loan upgrades are on the horizon