LCM tightens triple As on 2017 CLO with partial refi via Morgan Stanley
LCM Asset Management has partially refinanced a 2017 vintage CLO, cutting the cost of its triple A tranche

PennantPark prints mid market CLO with triple As at 170bp
PennantPark Investment Advisers on Friday priced its first middle market CLO of 2022

Neuberger Berman refis 2019 US CLO with fixed rate triple As
Neuberger Berman has teamed up with BNP Paribas to refinance the entire capital stack of its 2019 CLO named Neuberger Berman Loan Advisers CLO 34

Ucits at a glance: Robus claims top spot in 2021 after tight race
Ucits funds have ended 2021 on a high as 62% made positive returns in December

Credit awash with volatility in first week but investors load up
It has been a volatile opening week to the year for credit, but one in which investors have allocated bullishly to credit funds

CIFC turns three-year CLO into five-year deal with reset
CIFC has turned its three-year reinvestment deal named CIFC Funding 2014-IV-R into a full five-year transaction with a reset via BNP Paribas

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.   

Banks and loans to benefit in 2022 as safe havens dwindle
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
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

Points up front: Correlation between CDS and mixed martial arts
BNP Paribas clinched a big-name hire to its credit derivatives division in New York last month after poaching managing director Patrick Vickers from Credit Suisse.

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

Leisure and retail companies improve despite UK rates and travel rule noise
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

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

Loans will be winners in bearish year for credit: BNP Paribas
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

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

There's still time to pick up pennies in credit before steamroller arrives: BNP Paribas
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
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
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

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.