Seriously, the CLO arb is difficult right now
We know the arbitrage for CLO equity is never perfect, but the arb progressively deteriorated through 2018. Since January, the picture has worsened further after a brief respite in December

Zais prices third new issue CLO of 2018 with triple As paying 137.5bp
Zais Group priced its third new issue CLO of the year on Friday, with Bank of America Merrill Lynch the arranger

Wide CLO pricing need not be a drag
Established managers can price CLO liabilities at attractive levels, but we find that CLOs saddled with higher financing costs have nevertheless been among the market’s outstanding performers

Zais upsizes 2015 deal for its second CLO transaction in a week
Zais Group priced a $460 million CLO reset on Friday, marking its second transaction in the primary market in the same week

Zais prices its second new CLO of the year with triple As at 120bp
Zais Group teamed up with JP Morgan yesterday to price its ninth CLO, according to market sources

Price talk widens for forthcoming Zais CLO
Price talk has widened for Zais Group’s forthcoming CLO Zais CLO 9, a new issue deal that’s expected to price via JP Morgan later this month

Zais partners with JP Morgan to arrange forthcoming CLO
Zais Group is working with JP Morgan to arrange its second new issue CLO of 2018 named Zais CLO 9

Zais opts for three-year reinvestment period as it issues new US CLO
Zais Group has taken advantage of demand for short-dated CLO paper by pricing a new US CLO with a three-year reinvestment period

Zais achieves its best execution yet with new US CLO
The $564 million deal priced yesterday, and is set to close on 19 October

L-shape position trades from manager's 2016 US CLO
Several of the debt tranches and a sizeable amount of equity in Zais CLO 5 traded from a b-wic yesterday, in one of the more unusual secondary CLO market trades of recent times.

Zais CLO equity attracts high price in secondary market
An investor, who had seen a Zais CLO return 100% of capital through equity distributions alone, has sold the top-performing CLO's equity notes 

Investor looks to sell entire equity tranche of unique 2014 US CLO
Equity holder looks to offload deal with unique triple A tranche

Zais takes L-shaped bite out of its new MOA-backed CLO
Zais Group has experimented with an L-shaped risk-retention solution for its latest CLO, which priced yesterday via JP Morgan

Zais prepares to launch fourth CLO in static $281 million deal
Zais is gearing up to price its first CLO of the year in a static $281 million deal, according to market sources

Credit firm emerges as warehouse investor in forthcoming Zais CLO
A company which is active across credit has made its first new issue CLO investment in years. A portfolio manager at Zais appears to be the key to the trade

Manager turns to old deals for loan assets in preparation of new CLO
US loans have gone out of a CLO manager's old deals and into a new one

CLO fund manager hires marketing specialist from Zais
A structured credit professional has ended a nine year affiliation with Zais to join a large CLO equity investor

Zais prices landmark first CLO since going public
Zais has priced its third CLO and first since going public last month

Manager will tap $175 million of new capital for CLO risk retention role
A structured credit manager has disclosed plans to act as a CLO risk retention provider after securing a large balance sheet injection

JP Morgan markets second deal for new CLO manager
The $333 million CLO is set to price this week

Zais plans uniquely structured triple-A tranche for its debut CLO
Zais Group is on course to price its first CLO later this week in a deal that has a few unique characteristics

$80 million CLO mezz holder ditches b-wic at the 11th hour
With less than an hour before bids were due on an $80 million mezzanine CLO b-wic yesterday, the auction was pulled as the seller preformed a dramatic u-turn