CLO pipeline: Golub and Sound Point to cement positions among market leaders
Last week there were nine CLOs priced in the US market, including four broadly syndicated loan new issues and two middle market new issues, whereas there was no issuance in Europe. The CLO action over the next few weeks is again weighted towards the US, according to market sources

PGIM to join exclusive list of managers to reset, rather than refi, a euro CLO
PGIM is set to join the small but growing list of managers to reset a European CLO this year, as the manager teams up with BNP Paribas to bring a reset of Dryden 48 Euro CLO

CLO pipeline: refis can't wait till after summer
The CLO market in both the US and Europe looks to be slowing down in the near future with only two deals added to the running pipeline.  

BlueMountain buyout to bring CLO equity shift, funding pledge and Feldstein payout
BlueMountain Capital Management’s co-founder Andrew Feldstein looks set to receive a substantial pay-out in common shares of Assured Guaranty, which has agreed to buy the manager for around $160 million and has outlined a three-year plan for its CLOs

Spire prices CLO triple As at 105bp as Euribor rates slide
Spire Partners scored Europe’s tightest triple A CLO print of the year yesterday with market sources indicating that this is a reflection of how attractive CLO tranches are given the recent drop in Euribor rates

CLO pipeline: US takes up baton after European July sprint
The US CLO market is ready to kickstart issuance in August as nine deals have been added to the running pipeline.

Global CLO league tables at a glance - July 2019 YTD
Global CLO league tables at a glance - July 2019 YTD

Euro CLO league tables: before the holidays is the best time to price a deal
Over €5 billion of new issue CLOs was priced last month, the first time the market ever crossed that monthly threshold

Euro CLO spreads could tighten further as Spire targets 105bp triple A print
Spire Partners is looking to bring Europe’s CLO market even tighter as it readies a reset of its inaugural deal named Aurium CLO I

Euro CLO managers ditch Moody’s as negative views rise
European CLO managers have begun turning against Moody's as it has rapidly increased the number of loan issuers it has placed on negative outlook.

Chenavari double debt tranche CLO warehouse reduces up-front cash call
Chenavari Investment Managers used a novel approach to warehousing its last European CLO, according to market sources. The firm priced Toro European CLO 6 on 12 July via Morgan Stanley, with sources indicating that the warehouse facility behind the deal had two debt tranches. 

GSO prices tightest European CLO of 2019 with syndicated triple As
GSO Capital Partners priced the tightest European CLO of the year yesterday with weighted funding costs 177.27 basis points over Euribor

Bank of Japan keeps rates in check to keep CLOs within reach
The US Federal Reserve’s pivot toward a more dovish monetary policy has buttressed the symbiotic relationship between Japanese investors and US CLO managers

PineBridge refi shows steep term curve in European CLO market
PineBridge Investments has refinanced its 2016 vintage CLO named Euro Galaxy V, according to market sources

Global CLO b-wic round-up: 71% of equity positions trade as supply picks up
The European and US secondary CLO market took a step back this week as the primary CLO generated $7.8 billion of deal flow globally

Hayfin prices new CLO as European 2.0 volumes break monthly record
Europe’s CLO volumes reached a post-crisis monthly record on Friday as Hayfin Capital Management priced its latest new issue bringing July volumes to €5.21 billion

MJX and Natixis team up to price $607.9 million new CLO
MJX Asset Management yesterday priced its third and largest CLO of 2019, according to market sources

Ares and Barings lead the way as triple A spreads regain lost ground
CLO triple A spreads in Europe have reached their tightest point in months, with two deals issuing their first pay notes at 108 basis points over Euribor

Man GLG prices partial CLO refi as Europe's managers keep original double As
GLG Partners yesterday partially refinanced its 2016 CLO named Man GLG Euro CLO II

CLO pipeline: CSAM and Octagon look to move further ahead of the chasing pack
The CLO pipeline in all three markets looks similar to last week with a reduction of only around $500 million in predicted new issue volumes in each of the US, European and mid market CLO spaces. But all three of these market segments look healthy with new issues and refinancings being favoured by managers

Tikehau prices its largest CLO transaction
Tikehau Capital teamed up with Natixis on Friday to issue its latest new CLO named Tikehau CLO V, according to market sources

Junior notes of forthcoming GSO European CLO go subject
GSO Capital Partners is marketing a new European CLO via Deutsche Bank named Dunedin Park CLO, which was announced yesterday

New manager premium evaporates for Sound Point in second euro CLO
Sound Point Capital Management has priced its second European CLO, just three months after its debut issuance on the continent

Investcorp prices triple As at 110bp in European new issue
The global issuer prices its second new deal in Europe

CLO pipeline: there's no drought here as market is doused with deals
Deal-makers have been taking in their H2O with little sign of summer slowdown in the CLO market as the pipeline approaches full force