Envision exchange leaves some lenders sick, but CSAM finds prevention is better than cure
Envision Healthcare’s distressed debt exchange has rocked the CLO market, with over $1.68 billion of the firm’s loans held by US CLOs. But some of the largest managers have avoided the name completely 

Credit funds at a glance (April 2022)
A round up of fundraising and people moves in credit  

Vida hires head of US CLOs from large asset manager
Vida Capital has hired the head of US CLOs from a large CLO issuer as head of structured credit

Sculptor refinances post-reinvestment CLO via Amherst Pierpont
Sculptor Capital Management has refinanced three tranches of its post-reinvestment CLO named OZLM Funding VIII at $479.1 million

Sculptor chisels fixed rate tranches into CLO with reset
Sculptor has reset a US CLO it signed in 2017, cutting the size of the overall debt stack but adding fixed rate tranches

Sculptor moulds unusual debt/equity hybrid tranche into new US CLO
Sculptor has issued a CLO with a senior equity tranche, which pays a recurring coupon 

US CLO pipeline: newcomers look to follow Beach Point's lead by pricing before year-end
Beach Point Capital Management became the latest debut issuer in the US CLO market on Friday, and Sycamore Tree Capital Partners and Putnam Investments are set to join it    

CLO refi and reset volumes surge with $2.3 billion priced on Friday
CLO refi and reset volumes surged on Friday with $2.3 billion priced across the US market, according to market sources. Brigade Capital Management, MidOcean Credit Partners and New Mountain Capital reset regular-way CLOs, Blackstone Credit scored a regular CLO refi, Sculptor Capital Management refinanced a bond-heavy CLO, and Ivy Hill Asset Management reset a middle market CLO

Global CLO trading lab: Seasoned equity prices lag as debt spreads level out
The CLO secondary market took a back seat to the surging primary market in August and September with secondary US CLO volume accounting for just 3.7% and 4.2% of the total US CLO market (primary and secondary volumes). But opportunities are there in CLO equity tranches

Sculptor and Nuveen add $883 million CLO refi supply
Sculptor Capital Management and Nuveen have each refinanced a legacy CLO, with the two deals adding $882.6 million to refi supply

Neuberger Berman, Sculptor and First Eagle tap CLO refi market
Three CLO managers refinanced 2019 CLO paper worth a total of $1.44 billion on Friday

PGIM and Sculptor add to CLO reset wave
PGIM and Sculptor Capital Management have thrown their hats into the CLO reset ring

Deutsche Bank arranges third new US CLO of 2021 with $407.9m deal for Sculptor
Deutsche Bank priced its third new US CLO of the year

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

CLO pipeline: US market on track for June boom
CLO issuance is set to boom in the coming weeks with the pipeline ballooning as the market looks ahead to June

Sculptor splits triple B debt structure in new US CLO
Sculptor Capital Management priced its second new issue US CLO of the year on Monday with an unusual split triple B debt structure

CLO pipeline: Deutsche Bank and Carlson hit comeback trail
The CLO market is preparing to be very active in the coming weeks, as the issuance slow-down is set to be in the rear view mirror

Brigade, GoldenTree and Sculptor reset $1.5 billion of CLOs
Brigade Capital Management, GoldenTree Loan Management and Sculptor Capital Management took to the CLO primary market on Friday to price a combined $1.53 billion in CLO resets

Refis price on top of new issues as four managers print US CLOs
Four US CLO refinancings priced yesterday, giving the impression that CLO pricing is fitful and the term curve flat

Differences surface between two US CLO refis, despite similar tenors
CLOs from 2013 and 2017 with similar tenors priced senior note refinancings 10bp apart on Thursday, highlighting that longevity matter

Sculptor prints first regular-way US CLO in 1.5 years
Sculptor Capital Management made a grand return to the CLO primary market on Thursday with its first regular-way new issue deal for 1.5 years

Sculptor readies first new US CLO since 2019
Sculptor Capital Management is preparing a comeback US CLO via Bank of America

CLO pipeline: 2020 absentees join new issue rush
The CLO pipeline is growing by the minute as managers prepare their first new issues of the year after varying lengths out of the market

Sculptor promotes managing director to co-head US CLOs
Sculptor Capital Management has promoted a veteran CLO expert to co-head its team in New York

Sculptor CLO refi ends US primary pause with first deal post-election
Sculptor Capital Management on Wednesday priced the first transaction in the US CLO primary market following the US election, bringing to an end the lengthy 16-day pause in dealflow