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Credit awash with volatility in first week but investors load up
3 years ago
It has been a volatile opening week to the year for credit, but one in which investors have allocated bullishly to credit funds -
BNP Paribas bolsters CLO sales team with hire from DB
3 years ago
BNP Paribas has hired a Frankfurt-based CLO and ABS sales director -
CLO 2022 Outlook: 2021 is hard act to follow, but CLO buyers have positives aplenty
3 years ago
New CLO issuance in 2022 will remain elevated but below 2021’s record numbers, banks agree. But there is no consensus among strategy desks on the volume of repricings to come, partly due to the unknown impact of the Sofr transition. -
Banks and loans to benefit in 2022 as safe havens dwindle
3 years ago
Safe havens and sector pitfalls are among some of the top considerations for portfolio managers this year, as a consensus forms that credit could suffer versus other asset classes -
ESG template fires up hopes of CSO issuance
3 years ago
2021 may not have been a year of big volume in the synthetic bespoke market, but primary business is back, and decisive inroads into environmental, social and governance (ESG)-focused issuance bode well for 2022 -
CLO extremes will do well in '22 but mezz needs caution: BNP Paribas
3 years ago
The extreme parts of CLOs' capital structures will offer best value in 2022, but investors should be cautious on mezzanine tranches and consider hedges, say BNP Paribas strategists -
Leisure and retail companies improve despite UK rates and travel rule noise
3 years ago
Easing of market tensions around the omicron covid variant have allowed traders to broadly mark single name credit spreads tighter on Wednesday, despite caution returning to indices over central bank policy and travel restrictions -
Three managers think alike with refis of two-year European CLOs
3 years ago
Three European CLO managers hit the primary market on Friday to print two-year refinancings. This deal profile has been popular of late with seven such deals pricing in little over a month -
Invesco Euro CLO triple As leak wider to 99bp, but mezz tranches print tight
3 years ago
Invesco on Tuesday priced the 90th European CLO new issue of the year with Invesco Euro CLO VII. BNP Paribas arranged the €407.5 million deal -
Loans will be winners in bearish year for credit: BNP Paribas
3 years ago
Floating rate loans are best positioned for a year of widening credit spreads, but high yield bonds will outperform investment grade and EM credit is set for losses, says BNP Paribas in its 2022 outlook -
BNP Paribas bolsters credit business with European strategy head hire
3 years ago
BNP Paribas is looking to strategy to help drive growth in its credit business and has hired a head of European credit strategy from UBS -
Investcorp reworks 2020 European CLO via BNP Paribas
3 years ago
BNP Paribas arranged the €443 million transaction, which cuts the CLO’s cost of debt by over 18 basis points to 190.3bp -
Sofr transition timing puts CLO debt and equity at odds, says BNP Paribas
3 years ago
CLO investors look to have tough conversations ahead on the structure implications of the transition from Libor to Sofr, with BNP Paribas strategists noting CLO debt will benefit from an early move while equity tranches would do better to wait -
BNP Paribas AM cuts CLO tranche costs throughout structure with refi
3 years ago
=BNP Paribas Asset Management has refinanced a 2019 Euro CLO, arranged via its banking arm, with tightening across all tranches -
There's still time to pick up pennies in credit before steamroller arrives: BNP Paribas
3 years ago
Declining dealer inventories, rising fund cash balances, and a greater prevalence of hedging have added up to produce a credit market that is positioned too short, according to BNP Paribas strategists -
Zais and BNP Paribas strike ESG breakthrough with climate change CSO
3 years ago
The growing theme of environmental, social and governance standards helping to revitalise the market for collateralised synthetic obligations appears to have taken a big step forward, with Zais Group and BNP Paribas partnering on a first-of-its-kind deal that could lay a template for future transactions -
Banks soak up selling pressure ahead of key ECB meeting
3 years ago
Banks - and particularly those in Italy and Spain - are among the main underperformers in credit as the market cautiously awaits messaging from this week's meeting of the European Central Bank -
PGIM drops fixed rate triple A tranche in reset
3 years ago
PGIM has paired with BNP Paribas to price the reset of its 2019 European CLO named Dryden 69 -
Partners goes long again with five-year European CLO
3 years ago
-Partners Group has priced its latest European CLO, named Penta CLO 10 -
Credit Rendezvous: Credit spins full circle
3 years ago
The third quarter was massive in terms of volumes with CLOs, high yield, leverage loans and private equity registering record issuance. But credit spreads were up and down as inflation fears, crackdowns in China and rising coronavirus cases became catalysts for risk-off sentiment in July and September -
BNP Paribas markets Partners European CLO new issue and PGIM reset
3 years ago
BNP Paribas is marketing a new issue European CLO managed by Partners Group and PGIM’s reset of its 2018 vintage deal Dryden 69, according to market sources -
Redding Ridge tops Euro CLO new issue tables with fourth new issue in four months
3 years ago
BNP Paribas served as lead arranger on the manager’s latest €507.55 million deal - cementing Redding Ridge's top spot for highest European CLO new issue volumes in 2021 -
The Creditflux CLO Symposium was back as an in-person event for the first time in two years and participants were delighted to socialise and bask in an amazing year for the credit industry3 years ago
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CLOs at a glance (September 2021)
3 years ago
A listing of CLOs that have priced in the last month -
Blackstone regains top CLO spot as it slashes 60bp funding costs on 2020 reset
3 years ago
BNP Paribas has reset and upsized Blackstone's Avondale Park, cutting the CLO’s funding costs by over 60 basis points
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