Capital Four prepares for US CLO debut with four more hires
Capital Four says it has hired four team members to its New York-based US credit team as it expands its capabilities across the Atlantic

Heavy supply plus junior staff shortages create CLO logjam
A combination of unprecedented supply and a tight labour market is leading to a bottleneck in the CLO market, with service providers and banks stretching their resources to the limit

CLOs at a glance (July 2021)
A listing of CLOs that have priced in the last month

CLO equity fluctuates as resets trigger upsizes and downsizes
A once-rare move of CLO issuers upsizing or downsizing their equity tranches in resets is entering the mainstream

Global CLO pricing lab: let’s all point at that 108bp print while spreads leak out
The tsunami of CLO paper coming to market is the biggest technical factor causing spreads to widen, according to sources

Loan pipeline builds to fuel US CLO production into Q2
US CLO new issuance, already on a high, is set to be spurred on by a healthy loan pipeline over the second quarter of 2021

Angelo Gordon CLO deputy portfolio manager departs
Angelo Gordon has lost a deputy portfolio manager from its CLO management team

CLO captive funds surge as US manager becomes latest to launch
The New York-based manager joins the likes of Kayne Anderson and GoldenTree this year to raise funds to invest in their own CLO equity and warehouse lines

Angelo Gordon joins ranks of bond-flex CLO issuers
Angelo Gordon teamed up with Credit Suisse on Thursday to issue its first ever bond-heavy CLO

Refis, resets and reissues back in vogue as four US CLO managers print deals
Various shades of CLO refinancings dominate the US CLO primary market with four deals - two refis, a reset and a reissue - printing on Wednesday for a total volume of $1.1 billion. This surpassed all US CLO refinancings in the six months from March to September last year

Angelo Gordon prices US CLO with make-whole on senior notes
Angelo Gordon has priced its first US CLO since the coronavirus outbreak, teaming up with Barclays to issue the $294.8 million Northwoods Capital CLO 22

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

OC health check: first senior breach in middle market pushes CLO tally to 13
41 CLOs have breached an overcollateralisation test in the last week, according to the latest trustee reports on CLO-i, taking the overall total to 182

CLOs process Internap bankruptcy as they hold $212 million
CLOs hold $212 million of the debt of Internap Technologies, which filed for Chapter 11 in the Bankruptcy Court for the Southern District of New York on on Tuesday

ESG pervades US CLOs but screening approach divided
Environmental, social and governance (ESG) investing is reshaping the US CLO market, with February bringing the first CLOs marketed that have explicit ESG-related investment criteria.

Two-year spreads gap out as Angelo Gordon prices short-dated CLO
Angelo Gordon has gone the short-dated route for its latest new issue CLO, named Northwoods Capital 20

Global CLO b-wic round-up: Junior mezz covers return while triple A supply drives big week
Narrowing of the bid-ask gap that has plagued junior mezzanine tranches could bring a change of fortunes in the US CLO secondary market 

CLO pipeline: Capital time to debut in Europe as liability spreads drop
CLO managers are showing no signs of slowing down, as a further 16 US and five European new issue CLOs, including Capital Four's CLO management debut, appear in the pipeline

Global CLO b-wic round-up: US and European double B trading patterns diverge
48% of the CLO secondary market was made up of triple A bonds; $255.6 million of US CLOs and €108.55 million of European CLOs. But there were differences in how CLO double Bs are trading in those markets.

CLO pipeline: new kids in class look to excel on first assignments
The summer holiday is well and truly over with the European CLO market building on last week’s momentum as three new deals and one reset are to enter the primary market. 

Sungard bankruptcy to cause minor burns for CLOs
A total of $202.5 million of the loan basks in CLO structures - but managers are unlikely to get badly burned, sources say. And CLOs are fairly well-positioned to retain such assets with several structural factors and indenture provisions

Senior CLO investors get extra call protection as Angelo Gordon prices
Senior CLO investors are scoring enhanced call protection this month, as Angelo Gordon yesterday became the second manager to price a CLO with variable levels of callability

Angelo Gordon readies new CLO with unusual callability structure
Angelo Gordon is marketing a $448.75 million new issue CLO via Citi, according to market sources

Angelo Gordon reissues 2014 CLO with triple As printing at 130bp
Angelo Gordon has reissued its 2014 vintage CLO Northwoods Capital XIV via Barclays, according to market sources