Dutch VAT ruling to reduce impacted CLO equity returns by 1 to 2%, says BofA
The Dutch tax authority’s decision to charge a 21% VAT on CLO collateral management fees will have a ‘substantial’ impact on equity, with returns likely to be 1 to 1.2% lower going forward, according to a research paper published by Bank of America

European CLO single Bs jump to 1,100bp with GSO deal - but seniors hold firm
Junior European CLO spreads have slumped, with GSO Capital Partners pricing new issue single Bs at 1,100 basis points on Friday

Global CLO league tables - February 2020 YTD
Global CLO league tables - February 2020 YTD

Invesco sets new benchmark in European CLO market
Invesco priced Europe’s sixth new issue CLO of the year on Friday, according to market sources. Invesco Euro IV pays 93bp over Euribor on its triple As, the tightest print of any European CLO with four or more years of reinvestment  

Credit funds at a glance

CLO pipeline: a refi of nine cuts time (and margins)
Nine US CLO managers are preparing to refinance one of their CLOs to lower financing costs

Euro CLO league tables: new issues shatter 2018’s record but total issuance falls
The European CLO market continues to grow at a record shattering pace with 2019 new issuance volumes totalling €29.8 billion, an 8% increase on 2018’s previous record figure, from 53 active managers

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

Oaktree scores second new euro CLO of 2019
Oaktree Capital Management priced its second new European CLO of the year, known as Arbour CLO VII, via Bank of America

Global CLO league tables at a glance - November 2019 YTD
Global CLO league tables at a glance - November 2019 YTD

Euro CLO league tables: repricings take centre stage in bumper month as CVC leaps into first
The European CLO market returned with a bang in September as €4.8 billion of issuance priced of which €2.7 billion was in repricings.

Angelo Gordon prices first euro CLO and matches market's tightest triple A print
Angelo Gordon made its European CLO market debut on Friday and scored the continent’s tightest triple A print in the process, according to market sources

Two managers market their first ever European CLOs
Two CLO managers are in the process of marketing their inaugural European CLOs to investors, according to market sources

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

Ares and Barings lead the way as triple A spreads regain lost ground
CLO triple A spreads in Europe have reached their tightest point in months, with two deals issuing their first pay notes at 108 basis points over Euribor

Euro CLO league tables: three debutants, but familiar faces stay top
June brought €3.4 billion of European CLO issuance between seven new issues and two refinancings. Of the seven new issue European CLOs priced last month, three were from debut managers to the continent 

European spreads come in as CVC prices latest CLO via BAML
European CLO spreads dipped tighter yesterday as CVC Credit Partners issued its latest deal with triple As pricing at 110 basis points

CVC targets 110bp triple A print as European CLO spreads show signs of tightening
CVC Credit Partners is close to pricing a European CLO, with price guidance suggesting strong demand for the deal's debt

CIFC announces four analyst hires in London
CIFC Asset Management says that it has completed phase one of its build-out of a European credit team

Permira returns to price third 2.0 European CLO
Permira Debt Managers priced its third European new issue CLO since returning to the market in February of last year and its first this year.

Spreads tighten as ICG prices second euro CLO of 2019
Intermediate Capital Group teamed up with Bank of America Merrill Lynch yesterday to price a new issue CLO named St Paul’s CLO XI

European managers find tight debt execution by refinancing once more
PGIM and Carlyle Group joined the growing list of CLO managers to refinance in Europe since the seven-month refinancing drought was brought to an end last month – and these managers are enjoying tight debt execution on their liabilities

CLO pipeline: refinancings to make a comeback
CLO refinancings look set to continue their recent surge in the US CLO market, with another five refinancings and two resets appearing in the pipeline.

Return of the refi: GSO produces Europe's first CLO refinancing for seven months
GSO Capital Partners has priced Europe’s first CLO refi transaction since last September, according to market sources

European spreads pushed wider with Bardin Hill's new CLO
The transaction has also catered to the growing demand for fixed rate notes