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

Fight for leaderboard top-spot intensifies as Blackstone prints Peace Park CLO
Blackstone Credit priced its seventh US CLO of the year on Tuesday just days after Carlyle Group became the first manager to achieve the feat, as the two firms battle for top spot on the leaderboard for issuance in 2021

Carlyle shoots to top of issuance leaderboard with huge seventh US CLO
Carlyle Group is the CLO manager with the highest US issuance volume so far this year after becoming the first firm to print seven new CLOs

Vibrant mirrors first CLO of year with follow-up via BNP Paribas
Vibrant Capital Partners priced its third new issue US CLO on Thursday and its second via BNP Paribas

Blackstone regains top CLO spot as it slashes 60bp funding costs on 2020 reset
BNP Paribas has reset and upsized Blackstone's Avondale Park, cutting the CLO’s funding costs by over 60 basis points

Napier Park takes CLO regatta to 20 vessels
Napier Park has brought its first new US CLO in nearly six months, pricing the upsized deal in line with guidance via BNP Paribas

Goldman builds out exotics strategy amid tranche market high
The index tranche market is gaining support, with Goldman Sachs adding to those building up their presence, officials at the bank confirm

Octagon slashes 55bp from CLO funding costs by resetting 2020 deal
Octagon Credit Investors has priced the reset of its 2020 deal Octagon Investment Partners 46 by partnering with BNP Paribas. 

Euro 2021 CLO volume exceeds €60 billion as BNPP and Axa IM pair for new issue
BNP Paribas arranged Axa IM's return to the primary CLO market after 21 months 

BNP Paribas refis one-year CLOs managed First Eagle and Octagon
BNP Paribas arranged CLO refinancings for First Eagle Investment Management and Octagon Credit Investors, with both deals having only around one year of reinvestment remaining

Squarepoint draws big name options market maker to buy side
An experienced credit options trader has decided to join the systematic and quant strategies manager in a change of career from working on the sell side

AGL and Partners upsize legacy CLO deals with resets
AGL Credit Management and Partners Group each priced a CLO reset on Monday, with both firms opting to upsize their legacy deals in the process

CSO pipeline strengthens following ESG breakthrough
ESG criteria and longer investment horizons are driving new business in a resurgent bespoke tranche market, say dealers. And while this is unlikely to get 2021 near to a 2019-like haul of deals by year end, hopes are high that volume is firmly back on an upwards traject

CLO demand drives loan outperformance versus bonds
Leveraged loans could be set for their strongest run of outperformance over high yield bonds since 2017, say investors and strategists ­— if the CLO engine and an influx of money to funds continues to drive flows

Blackstone, Chenavari, CIFC and Five Arrows add €2 billion to weekly Euro CLO issuance
Nearly €2 billion of European CLO issuance priced this week, with Blackstone, Chenavari, CIFC and Five Arrows adding to Napier Park’s reset earlier in the week

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

AGL and Blackstone reset and upsize post-covid CLOs from 2020
AGL Credit Management and Blackstone Credit added to their respective 2020 CLO reset sprees on Monday, with both managers upsizing their post-covid deals

Tranche trader leaves Apollo for sell side
BNP Paribas has filled a gap in its structured credit trading group with the hire of an index tranche market maker

CLO demand to drive loan outperformance over bonds: BNP Paribas
The buying power of CLOs and funds could mean leveraged loans rally further and outpace high yield bonds, says BNP Paribas' credit research team

MidCap and Steele Creek add to 2019 CLO refi supply
Steele Creek Investment Management and MidCap each refinanced a 2019 CLO on Friday

Bardin Hill refinances triple A notes of 2017 CLO to 108bp
Bardin Hill Investment Partners refinanced the triple A notes of Halcyon Loan Advisors Funding CLO 2017-2 on Monday

Niagara falls: CLO spreads come down in Blackstone refi to highlight 2019 v 2021 basis
Blackstone Credit has refinanced one of its 2019 US CLOs. The CLO, Niagara Park CLO, has three years of reinvestment remaining and while the seniors priced inside the five-year Point Au Roche (100bp to 108bp), mezzanine tranches were wider despite the refi's shorter tenor.

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

Anchorage prints new $458 million CLO via BNP Paribas
Anchorage Capital has issued its second new CLO of the year, naming the deal Anchorage CLO 17

Two managers reset huge 2017 CLOs, boosting supply by $2.25 billion
Ares Management and CBAM have each priced resets of CLOs issued in 2017, adding $2.25 billion of supply to the market