Global CLO round-up: it's time to rethink benchmarks
The CLO market broke out of holiday mode last week by presenting strong issuance on both sides of the Atlantic - $2.8 billion in the US and €1.6 billion in Europe. High volumes have brought with them bigger shifts in market dynamics. This week put the focus on tightening spreads, as benchmark triple A levels dipped.

Five Arrows and Natixis refinance 2016 vintage CLO
Five Arrows Partners has cut the funding costs in its 2016 deal Ocean Trails CLO VI by over 67 basis points via refinancing

CLO pipeline: managers return in force after varying time-outs
CLO managers in all markets are taking the view that the time is ripe to print their latest deals. There are 30 transactions in the US CLO pipeline this week with a further four in the middle market space and Europe

US CLO round-up: something old, something new, GSAM returns with newcomers too
GSAM is back pricing CLOs after 12 years away, while relative newcomers make swifter re-entries in the CLO market 

AA Battery: GSAM powers back into the CLO market and merges senior tranches
Goldman Sachs Asset Management, itself a large buyer of senior CLO paper, has priced its first 2.0 CLO, but with the absence of a regular triple A-rated tranche

CLO pipeline: Barclays and Goldman branch out to mid market
The US CLO pipeline has been full in recent weeks and this continues, with 18 new issue CLOs and a further nine refinancings appearing this week.

CLO pipeline: newcomer emerges with unusual transaction
The US CLO pipeline continues to fill up, with 20 new issue US CLOs featured and another 17 deals set to be refinanced.

Correction: US CLO round-up: newcomers make waves in CBOs and mid market
The CLO market is showing little sign of constraint as three new names entered the market last week – two debut middle market deals priced while one US CBO closed

US CLO round-up: dropping anchor (investors) brings CLO spreads tighter
Syndication was the theme of the week across the global CLO market last week as managers and arrangers presented deals which were sold to a more diverse group of investors than has been the case for most of this year.

MJX and Jefferies price 13th new CLO as a partnership
MJX Asset Management and Jefferies teamed up again yesterday for their 13th new issue CLO as a partnership, according to market sources

US CLO round-up: managers flock back to market in Groundhog week
The CLO market picked up where it left off as a variety of managers flocked to the primary market with new deals. There were some events which led us to believe that things were on repeat, with managers synchronising their issuance, more examples of structural innovation and PGIM pricing tight (again)

New Eaton Vance CLO swaps single B interest diversion test for OC test
Eaton Vance Management returned to the CLO primary issuance market yesterday with its first new issue in seven months

PGIM prices triple As at 133bp in one of the tightest new CLOs of the year
PGIM priced its latest new CLO yesterday, named Dryden 72 CLO, with triple As at 133 basis points over Libor

CIFC prices its third US CLO of the year
CIFC Asset Management priced a $605.4 million CLO, CIFC Funding 2019-III, last week via Citi

PGIM prepares new US CLO via Goldman Sachs
Fresh off pricing a European CLO, PGIM is marketing what will be its second new US CLO of the year

Octagon hits 133bp benchmark again for its US CLO triple As
Octagon Credit Investors has priced its third new issue CLO of the year and fifth overall

Ares makes it three new issue US CLOs with $589 million deal
Ares Management has produced its fourth new issue CLO of 2019 and its third in the US

Market goes green with envy at Invesco's tight Verde CLO print
Invesco marked its return to the CLO primary market on Friday with a $506.44 million new issue named Verde CLO

US CLO round-up: Golub orbits curve as managers double up
A breakthrough regarding Japanese risk retention rules ended last week on a high note for CLOs as the Japan Financial Services Agency has announed that CLOs can sit outside the remits of its securitisation regulations

Mezz spreads come in as Barings issues second US CLO in 2019
Barings finds a warming US CLO market

THL prepares $505 million CLO alongside Natixis
THL Credit is looking to issue a new CLO via Natixis named THL Credit Wind River 2019-1

Carlyle leads CLO count as it prices third deal of year
With US CLO 2019-1, Carlyle prices its first new US deal after a reset and a new issue in Europe 

US CLO round-up: it's a slow start, but at least we have a benchmark as 42 deals fill pipeline
It’s safe to say 2019 is off to a slow start for the US CLO market. This past week, $1.4 billion has priced, bringing total issuance in January 2019 to $5.7 billion. That’s 70% below the January 2018 new issue volume of $20 billion.

US CLO league tables: Citi stands tall as overall leader but Morgan Stanley tops new issues
It was another fruitful year for the US CLO market as refinancings took a step back, giving new issues room to shine as $116.48 billion worth of new paper entered the market – 44.37% of overall volumes

AMMC resets 2016 CLO with triple As printing at 126bp
American Money Management Corporation was back in the CLO primary market yesterday, hiring Mizuho Securities to reset of AMMC CLO XV