Bank of America Research projects record year for US CLO issuance
The bank forecasts some USD 600bn in deals expected to hit the market, more than 19% ahead of this year’s issuance total, while it also sees at least eight debut managers coming to market in the US in 2026

European CLO IG returns reach 3.2% in the YTD - BofA
CLO triple As have returned 3.2% in the year to date, representing the third best year for the segment in the CLO 2.0 market

BlackRock rockets up after HPS buyout
After its acquisition of HPS, BlackRock has risen from 18th place to seventh in the US BSL AUM table. The highest-profile faller is UBS, which dropped out of the top 10. It was top in 2024

New European Blackstone CLO prices at 127bps
The manager’s latest European deal, Stannaway Park CLO, showed some evidence of weakening demand in the lower mezz, with its double Bs issuing at 540bps over the base rate

M&G prices its second CLO of 2025
Margay CLO IV was M&G’s fourth transaction since it returned to CLO issuance last year

Blackstone markets new Euro CLO with AAAs at 127bps, mezz outside recent tights
The triple As are just outside the new tight set last week by KKR's Avoca CLO XXXIV, but guidance for the mezz suggests some market widening

Euro AAAs tighten to mid-120s with new KKR issue
Avoca CLO XXXIV lowered the existing market tight by two bps, to Euribor plus 126bps

‘This is probably going to stimulate some interest for triple As’
The European securitisation market has come under new regulatory scrutiny this year, with a series of rules being published which have shifted manager obligations. Alexander Batchvarov, managing director, Bank of America Merrill Lynch, explains what this all means for CLO managers

Bank of America ups forecast for European CLO issuance for 2025
Bank of America research has revised upwards its estimates for 2025 Euro CLO gross issuance in light of strong YTD numbers and the expectation of continued market strength

GoldenTree and Apollo set new mid-mezz tights with latest Euro deals
A new GoldenTree issue priced its single A paper at Euribor plus 200bps, while Apollo lowered the benchmark for triple Bs with a reset of its first European CLO

KKR prices tightest Euro reset since April
Tuesday's reworking of the nine-year-old Avoca CLO XVII issued its triple As at Euribor plus 132bps

Arini resets first CLO
The 2023 Euro deal marked Arini's first foray as a CLO manager

Fidelity Euro triple A spread level matches post-April tight
The manager's first new European issue this year saw its top-of-stack paper equalling the tariff-era market low of Euribor plus 131bps

Onex issues full refi of previously-reset 2022 Euro CLO
The deal, which initially priced as a static issue, was reset in 2023 on a standard-duration timetable

KKR resets 2019-vintage Euro deal with increased cost of funding
Friday's print was the second repricing of Avoca CLO XX, following a partial refi in 2021

Blackstone prices tightest Euro AAAs in more than 10 weeks
Ringsend Park CLO lowered the tariff-era benchmark to Euribor plus 131bps

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