CLO round-up: sentiment improves as multiple breakthrough transactions emerge
New CLO formation slowed this week in the US, while Europe had its second zero-issuance week of the quarter. But there were three major developments: the first CLO refi in15 months, a major investor's first entry into a CLO at the reset stage, and the first middle market CLO arranged by Goldman Sachs.

Sycamore Tree's CLO volumes climb to $1.6 billion after largest new issue
Sycamore Tree Capital Partners priced its fourth - and largest - CLO since the firm's inception on Thursday, growing its deals under management to $1.6 billion

Elmwood completes CLO market's first refi in over a year
Elmwood Asset Management priced the first refi in the CLO market in over a year on Monday, according to market sources. The manager partnered with Citi to cut the funding costs on four debt tranches of its June 2022-vintage CLO named Elmwood CLO 18

CLO round-up: secondary market rallies amid increased primary supply
CLO primary activity increased across the board this week, with US new issue supply amounting to $1.8 billion - up 48.7% on the week prior - while in Europe supply increased 208.8% to €1.2 billion

Investcorp prints first new CLO in over 12 months
Investcorp returned to the European CLO primary market on Thursday with its first new issuance in over a year

Empower grows its CLO volumes to $1.5 billion after third new issue
Empower Capital Management grew its volume of CLOs under management to $1.5 billion on Monday after pricing its third new issue since the launch of the platform

Citi makes it two in a week with new Crescent CLO
Citi priced its second CLO of the week on Friday, a new US CLO for Crescent Capital called Atlas Senior Loan Fund XXI. 

Oak Hill helps trend for 2022 resets take off
A new trend for resetting CLOs from the middle of last year seems to be developing, with OHA Credit Funding 12 resetting on Thursday, according to market sources. 

Bain prints second largest BSL CLO of the year with tightest pricing in June
Bain Capital Credit priced the second largest broadly syndicated loan-backed CLO of the year on Tuesday

Japanese investors and ETFs bid up CLO triple As as US banks cool off
CLOs saw healthy demand from Japan in the first three months of the year, with Japan Post Bank and Norinchukin each increasing investments in the asset class. Japan Post’s CLO holdings stood at JPY2.3 trillion ($17.51 billion) as of 31 March, an increase of $550 million in the quarter and up 32.7% on the year prior. Nochu added $110 million to JPY6.4 trillion ($48.2 billion), or 13% of the bank’s investment portfolio.

US CLO league tables: Palmer Square back on top as BofA marches on
Palmer Square Capital Management retook the lead of the US CLO manager league tables for the first time since January

Global CLO league tables - May 2023 YTD
Global CLO league tables - May 2023 YTD

Fidelity prints new US CLO triple As just 2bp wide of 2023's tights
Fidelity Investments priced a new CLO on Thursday with a triple A spread of just 177 basis points over Sofr

Palmer Square becomes second CLO manager to price six times in 2023
Palmer Square Capital Management has become the second CLO manager to print three deals in 2023, growing its yearly issuance volumes to $2.6 billion in the process

AGL prices landmark CLO 25
AGL Credit Management passed an important milestone on Tuesday by pricing its 25th CLO, just over four years since the launch of the firm

US CLO league tables: CVC team with BofA to grab lead
$5.4 billion of US CLO new issues priced last month, which marked the 11^th straight month with no forms of refinancing pricing

Global CLO league tables - April 2023 YTD
Global CLO league tables - April 2023 YTD

Marathon prints second CLO under Bryant Park branding
Marathon Asset Management priced a new CLO on Tuesday, the second from the firm as part of its new 'Bryant Park' platform of CLOs

Biggest investors add to CLO holdings — but Japanese banks buy more than US-based rivals
Most of the biggest CLO noteholders in the banking world increased their investments in CLOs in the fourth quarter of 2022, but industry insiders say the momentum in early 2023 has been with Japanese buyers over US domestic institutions

Trinitas scores tight triple A execution on new US CLO with Citi
Trinitas Capital Management has scored one of the CLO market's tightest triple A prints of recent weeks after it teamed with Citi on its first new issue of 2023

US CLO league tables: BofA takes CLO lead as new issues keep calm and carry on
US CLO issuance dropped last month as the banking crisis gripped financial markets when Silicon Valley Bank and Signature Bank failed and troubled Credit Suisse was sold for below market value

Global CLO league tables - April 2023 YTD
Global CLO league tables - April 2023 YTD

JPY CLO repacks re-emerge as manager plans new US CLO
Moody's has assigned a provisional rating for a JPY CLO repack, the first it has rated since August 2018

US CLO pipeline: issuers takes credit sell-off in their stride as supply picks up
Despite the collapse of Silicon Valley Bank and Signature Bank in the last week, the CLO machine has continued to churn with just shy of $5 billion of US and mid market CLO issuance this week

AB and Partners print new five-year CLOs as daily volumes top $1 billion
AllianceBernstein and Partners Group each priced a new five-year reinvestment CLO on Wednesday, contributing to issuance volumes in the US topping $1 billion in a day for the first time in March