CLO pipeline: primary tightening opens door for CLO managers to print new issues
The CLO primary market is hitting a fast pace as it enters the last quarter of 2020. Last week brought a surge of new issuance as 11 US, two European and one mid market CLO manager priced their latest transactions

CLO pipeline: managers prepare to end quarter with a bang
CLO issuance is showing no signs of slowing down as spreads continue to grind tighter and election day draws ever closer

Morgan Stanley hires leveraged loan MD from Credit Suisse
Morgan Stanley has hired a leveraged loan managing director in London with over 15 years' market experience

US swaps rule relaxation brings underperformance of bank CDS
US Federal Reserve changes to the Volcker rule has caused bank stocks to surge, but credit market perceptions are less positive

European CLO triple As grind tighter as GoldenTree prints largest transaction since outbreak
The €373.7 million transaction is the biggest CLO in Europe since the coronavirus pandemic began

CLO pipeline: manager prepares crowning return as primary market gets busy
CLO secondary prices have rallied hard in recent weeks, providing impetus for the new issue deal pipeline to fill up quickly. But one surprise is that Western Asset Management has chosen this moment to return to the primary CLO market, after several years' absence

Eight bidders line up for Lebanon CDS auction as Morgan Stanley joins
Tomorrow's auction to settle Lebanon sovereign CDS will have eight participating bidders, after the Determinations Committee voted to add Morgan Stanley to the list

Partners markets US CLO as it aims to become second transatlantic issuer of 2020
Partners Group is on course to become the second CLO manager this year to price new issue deals on either side of the Atlantic

CSAM sees sun after nine years in shade

Sound Point adds third new CLO in first 10 months of European issuance
Sound Point Capital Management is keeping up the pace on its European CLO platform with its third new issue since its launch in April last year

Sound Point's breakneck pace of CLO issuance continues with third euro deal
Sound Point Capital Management has hit the ground running in Europe and has one of the fastest rates of issuance on the continent, with sources saying the manager is premarketing its third new issue CLO there

CLO 2020 outlook: lower volumes predicted, but it’s not all bad news
US CLO issuance is expected to drop by roughly 20% next year, according to bank research desks. This comes after a solid 2019 in which $101 billion of new US CLOs have priced through 92 managers, as Creditflux goes to press

CSO arrangers look to build on $65bn of issuance in 2019
The synthetic bespoke tranche market this year has fallen short of expectations in terms of overall issuance volume, but ends with transformative inroads being made.

Oak Hill prices first CLO transaction in Europe this year with refi
Oak Hill Advisors on Friday priced its first 2019 CLO transaction in Europe, teaming up with Morgan Stanley to refinance the triple A notes of Oak Hill European Partners V

Wings of the structure fly in opposite directions as Alcentra prices European CLO
Alcentra has priced its latest new issue CLO in Europe, and its second issue of 2019 on the continent

Five Arrows matches Europe's tightest CLO spread with latest new issue
Five Arrows yesterday returned to the European CLO market with its first transaction of the year, matching Axa Investment Managers for the tightest new issue print

‘Ex’ index trades take off as dispersion peaks
A gap is yawning between how the weakest constituents of CDX HY and iTraxx Crossover trade versus their broader portfolios, leading investors to find new ways to hedge and capture idiosyncratic risk.

Galapagos CDS auction looms with Morgan Stanley added to participating bidders
A credit event auction tomorrow to settle Galapagos Holdings CDS will have 10 participating bidders, with Morgan Stanley having been approved by other dealers to take part

Chenavari double debt tranche CLO warehouse reduces up-front cash call
Chenavari Investment Managers used a novel approach to warehousing its last European CLO, according to market sources. The firm priced Toro European CLO 6 on 12 July via Morgan Stanley, with sources indicating that the warehouse facility behind the deal had two debt tranches. 

Man GLG prices partial CLO refi as Europe's managers keep original double As
GLG Partners yesterday partially refinanced its 2016 CLO named Man GLG Euro CLO II

Morgan Stanley becomes third bank in four months to join CDSClear
Morgan Stanley has signed up as a member of CDSClear at LCH SA

Chenavari prices new issue CLO with triple As at Euribor plus 114bp
Chenavari Credit Partners priced a new issue CLO on Friday known as Toro European CLO 6, marking its first new issuance to come to market via Morgan Stanley

GoldenTree prices new issue European CLO as continental volumes pass €2 billion
GoldenTree Loan Management priced its latest European CLO offering yesterday as July new issue volumes on the continent passed the €2 billion mark

Chenavari changes tack and chooses vertical risk retention in first CLO for 17 months
Chenavari Investment Managers is set to end its near 17-month absence from the CLO primary market

Rallye CDS auction to have 10 dealers and six deliverables
10 dealers will take part in an auction next week to settle CDS contracts referencing Rallye, after the Determinations Committee voted to add Morgan Stanley as a participating bidder