Beneath the triple C: downgrades hold steady as Travelport loses its luggage
For the second month in a row downgrades to triple C steadied, with just under $9 billion of CLO loans falling to this rating across 34 corporate borrowers

Q2 US CLO volumes pass $14 billion as Benefit Street issues new deal
Benefit Street Partners has issued its first new CLO of 2020, bringing the total volume of US CLOs priced since the coronavirus selloff to $14.32 billion, according to market sources

CSAM scores market tights with first new US CLO for over six months
Senior CLO spreads tightened as Credit Suisse Asset Management brought its first new issue CLO of the year, according to market sources

Double B spreads move inside pre covid-19 levels as Neuberger Berman prices CLO
US CLO double B spreads are 75bp tighter than then were in early March with two Neuberger Berman deals highlighting the fact that investment grade CLO tranches have lagged junior tranches since the March sell-off

Mid market CLO league tables: Golub keeps hold of top spot
A busy start to March saw three new mid-market deals by three new managers hit the market

Global CLO league tables - April 2020 YTD
Global CLO league tables - April 2020 YTD

AGL prices novel CLO with ability to reinvest would-be equity distributions
AGL Credit Management has become the fourth manager to issue a new CLO following the coronavirus-triggered sell-off

CLO triple As drop to 128bp as TICP prices
US CLO triple A spreads have jumped tighter with TPG Instiutional Credit Partners pricing senior CLO liabilities at 128 basis points yesterday

Apex brings 2019's CLO market to a close with final transaction
Apex Credit Partners, the CLO management arm of Jefferies, brought 2019’s CLO market to a close on Christmas Eve by pricing the final transaction of the year

Marble Point prices new CLO with unusual debt structure
Marble Point yesterday priced its second new CLO of 2019 via Bank of America Merrill Lynch, according to market sources

US CLO round-up: managers flock back to market in Groundhog week
The CLO market picked up where it left off as a variety of managers flocked to the primary market with new deals. There were some events which led us to believe that things were on repeat, with managers synchronising their issuance, more examples of structural innovation and PGIM pricing tight (again)

Guardian Life subsidiary prices new issue CLO with triple As at 148bp
Park Avenue Institutional Advisers, the asset management affiliate of insurer Guardian Life, returned to the new issue CLO market yesterday with its latest offering, PAIA CLO 2019-1

Voya teams up with Jefferies for the first time to print short-dated CLO
Voya Alternative Asset Management priced a new issue CLO yesterday with a six month call-lock and a one year reinvestment period

Willis Towers Watson raises $620 million for two credit funds
Willis Towers Watson has launched a Group Trust with two credit funds, a spokesperson for the firm has confirmed.

Direct lending leverage takes off
HPS, NXT and Crescent target mid market with leverage in Q4. By Grace Jennings-Edquist

Jefferies brings two deals to market as Golub makes broadly syndicated return
Jefferies had a hectic end to last week, pricing both a new CLO for Golub Capital and a reset for Aegon USA on Friday.

Ares and KKR score five-year resets for US CLOs
Amid a burst of US CLO new issue activity, Friday saw two relatively rare five-year resets