Apollo reaches for bigger slice of pi(e) with 5% Diameter stake
Apollo Global Management has bought a 5% stake in credit fund and CLO manager Diameter Capital Partners, cementing the relationship between the firms

CLO arrangers and managers prepare for new marketing rule from November
CLO arrangers will need to work together with CLO managers in the coming weeks to ensure compliance, interpret the rules and set guidelines over what they can and cannot communicate with investors without disclosures

CLO debt prices imply default rate exceeding forecasts, says Orchard Global
Current pricing of CLO debt tranches implies a default rate that is "far in excess" of the most pessimistic forecasts, according to Orchard Global Asset Management

Founder of Alcentra's structured credit business to step down as PM
A long-time CLO tranche investor is set to move away from day-to-day portfolio management duties and take on a new role as senior advisor 

European IG CLO mezz is attractive versus US paper: Barclays
There is no reason for European CLO mezzanine tranches to be as wide as they are versus equivalent US paper, according to a strategy note from Barclays.

Beneath the triple C: US CLOs take a dip in the triple C as Europe watches from the sun lounger
The US CLO market bore the brunt of downgrades to triple C in July and August, with a total of $6.22 billion of paper affected. European CLOs enjoyed a more relaxing summer holiday, with only 1 name representing €33.88 million worth of bonds downgraded to triple C.  

Global CLO league tables - August 2022 YTD
Global CLO league tables - August YTD

CLOs keep eyes glued to screen as Cineworld previews possible chapter 11
Cineworld, the UK-based cinema giant, has announced that a chapter 11 restructuring is among the options it is considering, in response to recent media speculation about a possible default

Widening asset/liability gulf will hurt CLOs: Barclays
A mismatch between CLO asset / liability rate risk is increasing in the US as more leveraged loan issuers opt for one-month pay frequency, Barclays credit strategists have found

Global captive CLO equity fund closes with $230 million
The fund will invest in majority equity positions of the manager's US and European CLOs

Global CLO league tables - July 2022 YTD
Global CLO league tables - July YTD

Short duration CLOs are putting reset risk in the post: Barclays
The CLO market’s recent trend of shorter duration issuance could be setting up a problem for managers down the line that will impact their equity returns, Barclays has warned

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

Euro risk retention becomes must-have feature for US CLOs
For the past four years, risk retention-compliant US CLOs have been viewed as a luxury. But today issuers see a clear advantage to putting skin in the game

Making the grade: CLO managers move into IG bonds
CLO managers have been using the incredible volatility in credit markets this year to add an unfamiliar asset to their portfolios – investment grade bonds

Impact investor earns $146 million from US body for second CLO
An impact investment firm owned by M&G is poised to launch its second CLO, according to filings seen by Creditflux

Global CLO league tables - June 2022 YTD
Global CLO league tables - June YTD

Quarterly rankings: Carlyle climbs to top of pack with CBAM boost
Carlyle Group has cemented itself as the largest manager globally, following its acquisition of fellow CLO manager CBAM

FinDox steps in on climate disclosure reporting for CLOs
FinDox has become involved in reporting on carbon data for ­climate-related financial disclosure regulations, having been mandated by leading CLO managers to source relevant ESG key performance indicators

Beneath the triple C: ebbs and flows leave triple C levels at a temporary stasis
Following a rising tide of downgrades in May the loan market stabilised somewhat in June, with seven issuers held by CLOs downgraded to triple C and a counter-swell of five names upgraded to single B.

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

   

Tech platform aims to cut time spent reading CLO docs
Officials at Claira, the new platform that provides natural language understanding technology backed by Citi, say the CLO market is a core industry for them as they seek to help market participants quickly assess loan and CLO documents

Loan traders eagerly await electronic trading solution
The announcement of Octaura’s electronic loan and CLO trading platform last month has been met with positivity by market participants, who laud the unified approach taken by large investment banks in supporting the initiative

Euro double As and US triple As offer best value in CLOs: BNP Paribas
Secondary market double A rated tranches offer the best relative value in European CLOs’ capital structures, while US triple As in primary starting to look attractive, according to BNP Paribas credit strategists