CLO pipeline: Managers prepare to build on momentum in July
The demand for new issue CLO paper is strengthening with eight US CLOs, one mid market CLO and three European CLOs preparing to print in the coming days

MeDirect CLO team seeks spin-off from bank
The specialist credit team at MeDirect is looking for a strategic partner to spin off from the bank

OC health check: CLO managers drop their breaches
114 CLOs reported overcollateralisation breaches last week, but only three deals reported breaches for the first time

European 2020 CLOs reach €10 billion as MacKay prices second ever deal
Mackay Shields has priced its second ever European CLO, via BNP Paribas, bringing European CLO new issue volumes to €10 billion 

AlbaCore becomes third manager to debut in euro CLOs in 2020
AlbaCore Capital has joined the ranks of CLO managers after pricing its first-time transaction named AlbaCore Euro CLO I

Junior CLO spreads tighten as Investcorp's euro triple Bs hit 400bp
Junior spreads have tightened further with triple B notes hitting 400 basis points as Investcorp prices its second European CLO of 2020, Harvest CLO XIII

CBAM markets second European CLO just 21 days after debut
CBAM, who debuted in European CLO management just earlier this month, has become the first manager to market a second Eurpopean CLO post covid-19

CLO pipeline: marathon runners and sprinters join the race
Five new CLOs priced last week, four of which were US issues and one European, but they have been ably replaced in the pipeline, with a handful of managers looking to strike while the CLO market is still hot

Rockford Tower CLO fails to meet effective date requirements
A 2019 CLO managed by Rockford Tower Capital Management has failed to meet requirements relating to its effective date on 22 June due to breaching its Moody's weighted average rating factor test

HPS CLO warehouse hit by downgrade as it reaches 8.34% triple C assets
CLO warehouses have been hit with an increasing number of triple C assets in their portfolio. And those in one CLO warehouse managed by HPS increased from 0.5% in March to 8.34% by May

Go for short-duration and high-end CLO paper, says JP Morgan
This year is shaping up to be nearly as weak for CLO new issuance as 2008, according to JP Morgan strategists, who recommend investors seek value in short duration double/triple A paper or in higher-tier triple/double B

Investcorp markets second European CLO of 2020
Investcorp Credit Management is marketing a new €249.61 million European CLO via Barclays

OC health check: slowing of downgrades offers some reprieve for CLOs stuck in breach
89 deals reported overcollateralisation breaches last week, but only seven of these deals were breaching any OC test for the first time, according to the latest reports available on CLO-i

European CLO triple As grind tighter as GoldenTree prints largest transaction since outbreak
The €373.7 million transaction is the biggest CLO in Europe since the coronavirus pandemic began

Direct lender AlbaCore prepares first ever CLO
AlbaCore Capital is in the market with its first ever CLO, according to market sources. Named AlbaCore Euro CLO I, the new issue deal is expected to price at a deal size of €201.9 million as early as next week

Moody's downgrades three tranches of 2017 vintage European CLO
Moody's has downgraded three tranches of a 2017 vintage CLO managed by Bardin Hill

MacKay Shields markets second European CLO
MacKay Shields is marketing its second European CLO, nine months after debuting on the continent 

GoldenTree streamlines multi-arranger approach with upcoming euro CLO
GoldenTree Asset Management is marketing a new short-dated European CLO

Onex prints European CLO via Credit Suisse in first time partnership
Onex Credit Partners has teamed up with Credit Suisse to price its first European CLO in 2020

Jefferies completes shock raid on Citi's European CLO desk
Citi's head of CLO issuance Laura Coady is joining Jefferies, resulting in the bank making a big change to its global CLO platform

CLO pipeline: manager prepares crowning return as primary market gets busy
CLO secondary prices have rallied hard in recent weeks, providing impetus for the new issue deal pipeline to fill up quickly. But one surprise is that Western Asset Management has chosen this moment to return to the primary CLO market, after several years' absence

OC health check: US CLOs show improvement as first euro CLOs breach multiple tests
15 deals reported a breach in an overcollateralisation test last week according to the latest reports available on CLO-i, including one European CLO and 14 US broadly syndicated loan CLOs.