Investors optimistic, bullish on European structured credit – BofA, King Street, Blackstone, Federated Hermes
PODCAST: Credit Exchange with Lisa Lee catches up with Bank of America's Alex Batchvarov, King Street's Young Choi, Blackstone's Alex Leonard and Federated Hermes' Andrew Lennox at the Global ABS conference in Barcelona

Global investors pile into European CLOs as consensus on US ‘exceptionalism’ erodes
European credit, including CLOs and other ABS products, is attracting international investor interest as geopolitical uncertainty prompts a reach for geographic diversity

Investcorp harvests another new European CLO
The half-billion-euro deal is the first primary market activity from the manager since tariff-induced volatility hit capital markets

Blackstone makes it a Euro trifecta for May with latest reset
The manager’s reworking of its Wilton Park CLO showcased the market’s trend toward tightening in the lower mezz

Permira issues its first Euro deal of 2025
The offering follows the London-based manager’s second US CLO last month

Blackstone prices second new European issue after market pause
Tully Park CLO priced with the tightest triple As for a Euro deal since dealmaking resumed at the end of April

Partners prices its first new European CLO of 2025
The deal is among the first impacted by a new interpretation for EU risk retention

AlbaCore prices seventh CLO
The print comes 13 months after the manager’s last new issue

European spread narrowing sees historically tight deals reset
Both CVC and Five Arrows have reset 2018-vintage transactions  

Canyon prices its third CLO since entering Europe
Canyon Partners has priced its first European CLO since April last year  

Fortress and Polen print their first new CLOs of the year
Fortress and Polen Capital have priced their first BSL offerings of the year, both via BofA  

Spire hits new 2025 European low cutting AAA spreads to 122
The manager’s first CLO issue of 2025 trimmed three basis points off the previous market tight  

Bank of America sees 'seriously elevated' uncertainty as headwinds for Euro CLOs
Global uncertainty has become “seriously elevated” to become the main risk to credit markets in 2025, according to analysts at a Bank of America credit markets roundtable in London last week, though the underlying outlook for European CLOs remains broadly positive

CVC slashes cost of funding by more than 100bps on latest Euro CLO reset
The reworking of CVC Cordatus Loan Fund XXVI tightened spreads through the stack on the 2022-vintage deal

Five Arrows tightens up mezz with 2019-vintage Euro CLO reset
The third European reset of the year for Five Arrows Managers saw the triple-As price at 133bps over the base rate  

M&G resets comeback European CLO
The reset of Margay CLO I slashed the weighted cost of funding to Euribor plus 211.55bps, a tightening of just over 74bps from the previous level

Permira prices European new CLO as it debuts as a manager in the US
Permira has priced its second new European issue of the year in line with market as it makes waves overseas with new debut deal  

European CLOs hit another BB tight with latest Trinitas print
Trinitas’ latest European deal recorded a new year-to-date low for European double-B spreads, slicing 10bps off the previous tight

Elmwood resets 2019 vintage CLO a second time
Elmwood Asset Management has reset its billion dollar Elmwood CLO II for the second time since the US BSL deal’s debut five years ago

AXA’s latest new Euro CLO clears with widening mezz spreads
AXA has priced a new European CLO, valued at EUR 401.5m, with the mezz pricing wider than other new issues so far this month

Brigade prints wide of current Euro mark with CLO reset
Brigade has priced a reset of a 2018-vintage European CLO via Bank of America

Apollo prices first CLO seen in Europe in a week
Apollo broke the August quiet in Europe with the first CLO seen in a week in the region 

Apollo picks up two hires from Bank of America
Investment bankers Tomasz Gruszka and Murad Khaled have joined Apollo and an affiliate from Bank of America

2023-vintage Euro CLO reset sees major tightening
HPS Investment Partners returned to the market yesterday with its seventh deal of 2024, a reset of an early 2023-vintage European CLO

GoldenTree resets 2023 European CLO
GoldenTree has taken advantage of tightening spreads to reset a 2023-vintage European CLO, arranged by Bank of America