Securitisation regulators in EU urged to change direction
Panelists at the Creditflux CLO Symposium issue a call for a forward-looking, principles-based approach

Managers predict opportunities after Trump storm
Global financial markets in April went on one of the wildest rides in history over the past few weeks. But while markets have now calmed, caution remains

European CLO market hit hard by change to interpretation of risk retention vehicle wording
The European CLO market was rocked by a double whammy at the beginning of April,. as alongside the Trump tariff volatility, European regulators issued new risk retention guidance that sowed confusion and contributed to a chilling effect on primary activity

‘CLO spreads widened alongside all other spread markets’
Investor's Corner with Edwin Wilches, Co-head of PGIM Fixed Income’s securitised products

Tariffs will push up default rates for several years, say agencies and managers
After an uptick in leveraged loan defaults culled weaker credits in 2024, many expected default rates to fall in 2025. But the uncertainty stemming from the Trump administration’s tariffs means those assumptions are now under threat

News in brief
Blackstone plays offense amid volatility

CLOs at a glance – April 2025
Our list of recent CLO pricings globally

Blackstone prices second new European issue after market pause
Tully Park CLO priced with the tightest triple As for a Euro deal since dealmaking resumed at the end of April

PGIM issues new European CLO via HSBC
The deal is the manager's second new European print of 2025, and its third Euro transaction for the year to date

Creditflux Symposium 2025 opens at Nobu Hotel in Portman Square, London
17th Creditflux Symposium starts today, 14 May, with sessions on structured finance and ABS

Price talk puts Euro CVC reset at 138bps
The repricing of the two-year-old CLO is expected next week

Palmer Square prints second new static Euro CLO of 2025
The triple As priced 30bps wider compared to the previous deal in February

European CLO resets expected to continue throughout 2025 – Fitch Ratings
A report from the ratings agency indicates as many as 80 European CLOs from 2022 and after could be viable reset candidates this year 

Blackstone prices Euro market’s first reset in a month
The deal is the first European repricing since Sculptor European CLO IV was reset on 3 April

Clearlake launches Clearlake Credit to chase private and public credit investments
The new platform will integrate the newly acquired MV Credit and WhiteStar Asset Management

Pemberton prices third CLO as Euribor plus 140bps emerges as AAA market level
Indigo Credit Management III followed a deal from HPS as the European primary market began to reopen after nearly a month of new issue inactivity

Sidley poaches nine US finance lawyers from A&O Shearman including bulk of CLO expertise
The moves leave A&O Shearman with a significantly diminished slate of CLO prowess 

European CLO issuance begins to re-emerge as Blackstone and PGIM ready deals
Following two new-issue Euro deals on Wednesday, the pipeline is beginning to rebuild with more set to price next week

DWS axes Euro CLO management plans due to market volatility, shift in focus to private credit
The move comes amidst the departure of its head of European alternative credit, Dan Robinson

European new issues re-start as HPS prices EUR 407m CLO
The deal – the first new European deal in almost four weeks – priced its triple As at Euribor plus 140bps

Euro CLOs' largest single B- credits have little direct tariff exposure but face varying indirect pressures – S&P Global
The wave of global tariffs will have little direct impact on the top 'B-' European CLO holdings, but these credits remain vulnerable to secondary effects, according to research from S&P Global

Tariff fallout sees Euro CLOs discounted most heavily amongst Euro securitised assets – Morgan Stanley
The report from Morgan Stanley Research noted that the market remains in price discovery mode, triple A opportunities in secondary 

Danske Bank Asset Management announces new fund investing in IG CLO tranches
The fund, which will invest in both US and European CLOs, will be overseen by the firm’s Chief Portfolio Manager Jacob Toft Hansen

HPS prepping to issue a European CLO, the first for the market in three weeks
EXCLUSIVE: The manager is looking to price a new European CLO via Jefferies next week, with expectations of wider spreads than before the April volatility