CLO 2022 Outlook: 2021 is hard act to follow, but CLO buyers have positives aplenty
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.   

CLO extremes will do well in '22 but mezz needs caution: BNP Paribas
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

Correction: ArrowMark, Octagon and Trimaran print five-year CLOs
ArrowMark Partners, Octagon Credit Investors and Trimaran Advisors each priced a five-year CLO on Monday

Blackstone uses CLOs as financing tool in new suite of deals
Blackstone Credit has added three non-traditional US CLOs to its collection this year

AGL issues fourth core CLO with low leverage ratio
AGL Credit Management has priced the fourth in its 'core' series of low-levered CLOs, pairing with BNP Paribas to print the deal

Nuveen cuts 2020 CLO funding costs by 40bp with refi
Nuveen Asset Management cut the funding costs of one of its 2020 CLOs by almost 40 basis points by refinancing the deal on Wednesday

Antares and Palmer Square give new life to legacy CLOs via resets
Antares Capital Management and Palmer Square Capital Management each reset a CLO on Tuesday, with the two deals worth a combined $964.8 million

Nochu returns to CLO new issues after two-year break
Norinchukin Bank made its long-awaited return to the CLO primary market last month, investing in US CLO triple A notes once more

Sofr transition timing puts CLO debt and equity at odds, says BNP Paribas
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

Blackstone passes $5 billion in US CLOs this year with 10th new issue
Blackstone Credit teamed up with BNP Paribas on Friday to print its 10th US CLO of 2021, becoming the second manager in history to pass $5 billion annual issuance

US CLO pipeline: Go long! Refis fall from favour as AMMC looks to join list of 2021 issuers
The only record left to fall this year in US CLOs is 2017’s refinancing total of $102.8 billion with the market $6.3 billion shy. Yet this segment shows little interest to break more records with the pipeline filled with new issues and resets as longer tenured deals are preferred.

Medalist prices first new US CLO since January 2020
Medalist Partners has priced its first new US CLO since it took full control of Medalist Partners Corporate Finance (formerly known as JMP Credit Advisors) from JMP Group in July, ending a 21-month break from the CLO primary market

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

Invesco, Napier Park and Oaktree refinance 2019 CLOs
Three CLO managers - Invesco, Oaktree Capital Management and Napier Park Global - have each refinanced a 2019 CLO, with the three deals totalling over $1.5 billion

GoldenTree, Steele Creek and TCW hit primary CLO market to rework legacy deals
GoldenTree Loan Management, Steele Creek Investment Management and TCW Group all took to the CLO primary market on Friday to rework legacy CLO transactions

PGIM upsizes late 2020 CLO by over $50 million
PGIM has teamed up with BNP Paribas to reset its September 2020 CLO named Dryden 85, upsizing the deal by $51.6 million in the process

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

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

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

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. 

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

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