Euro CLO league tables: cramming a year's worth of work in two months
It is no surprise the European CLO market has been experiencing fatigue at times this year with the last two months of issuance alone almost equalling issuance figures for the whole of 2020: last year €22.78 billion worth of European CLOs priced, while in March and April 2021, managers brought €21.48 billion to market

Fair Oaks, PineBridge and Sculptor rework €1 billion in Euro CLO resets
Fair Oaks Capital, PineBridge Investments and Sculptor Capital Management all took to the European CLO reset market on Wednesday, in transactions that amounted to over €1 billion

Axa IM combines single As in European CLO refi
Deutsche Bank arranged the € 274.7 million transaction, which cuts cost of debt by 31.8 basis points

Beneath the triple C: resurfacing credits surpass divers as tide turns for CLOs
Upgrades above triple C overtook downgrades to that rating or below in February. Moody's or Standard & Poor's cut six corporate debt issuers to triple C or below in February, out of which just four can be found in CLO portfolios

It's all relative: CLOs march tighter as macro traders open positive CDS skews
Credit default swaps are back near where they started the year after giving up their early-February gains amid a rise in government bonds. CDS curves steepened over the past month and macro hedging has left indices trading with positive skews. But CLOs paint a calmer picture in which spreads have inched tighter  

It's all relative: senior CLO tranches tighten 18% in Europe as CDS indices sit out rally

It's all relative: Euro CLO mezz rallies to follow month-long IG/HY compression
European credit suffered this week with Brexit talks between the UK and the EU dragging on and both sides conceding that a trade deal is unlikely to be reached by Sunday’s deadline. But European CLO tranches have held up reasonably well with mezzanine spreads tightening by almost 13% in December

Global CLO b-wic round-up: double Bs lead the way as rally endures and drags equity with it
The CLO secondary market continued its hard rally last week as prices rose across the whole asset class with double B rated CLO bonds leading the charge tighter

Euro loan trading: CLO managers find a home for building specialist's downsized loan
CRH Europe issued a €700 million term loan B in November, which was downsized from €900 million. But still, it has proved popular with CLO managers with CLO-i indicating that CLOs bought €275.2 million of the loan

Global CLO round-up: Europe mops up demand, as Euribor hits the floor
The final stretch of the year began with a bang, with the first week of Q4 bringing $3.3 billion of CLO issuance in the US and €1.2 billion in Europe. But the resurgence in volumes was not the only talking point last week, with Europe coming into focus as spreads surfed tighter

PineBridge refi shows steep term curve in European CLO market
PineBridge Investments has refinanced its 2016 vintage CLO named Euro Galaxy V, according to market sources

CLO investor looks to offload US and European anchor equity positions
There are two controlling CLO equity stakes up for sale today with a 2017 European deal and a reissued US transaction going under the hammer

Rallye CDS auction price drops to 12.5 cents on unmatched sell requests
Rallye's credit event auction to settle CDS contracts produced a final price of 12.5 cents today, lower than the initial price set in the first round this morning of 14.975

Rallye CDS set for high pay-out with credit event auction underway
Rallye CDS looks set for a high pay-out to protection buyers after a credit event auction today to settle the contracts produced an inside market midpoint of 14.875 cents, slightly below where the retailer’s bonds have been quoted

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

Rallye CDS auction date set with three initial deliverables
A credit event auction to settle CDS referencing Rallye, the parent of French supermarket chain Casino, will take place on 27 June, with the Determinations Committee having agreed an initial list of three deliverable obligations

Price talk circulates on forthcoming Spire CLO
The manager is planning to launch its fourth CLO later this week via Citi

BlueMountain plans first CLO transaction of 2018
BlueMountain Fuji Management is preparing to price its first CLO transaction of the year within two weeks, according to market sources

Ares makes dramatic return to European CLOs with tightest ever triple A print
Ares Management has priced its first new CLO in Europe since December 2016, according to market sources

Ares plans to launch first new European CLO since 2016
Ares Management is preparing to issue its first new CLO in Europe since December 2016, market sources say

HPS prepares to price its second European CLO
HPS investment Partners is finalising its second European CLO transaction