Sound Point goes refi route for fixed notes of 2018 CLO
Sound Point Capital management is the latest CLO manager to refinance the fixed rate debt in one of its CLOs after working with Goldman Sachs to slash funding costs on Sound Point CLO XIX

CLO pipeline: a marathon for some, a sprint for others
Following a week in which there were three US CLO refinancings, one new issue CLO and one upsizing, three more US CLO managers are marketing latest new issue CLOs after varying times away

Global CLO b-wic round-up: Palmer Square sets highest cover as double B curve inverts
Palmer Square and MJX set the CLO secondary market trading range, but pickings in Europe were the slimmest they have been in almost five months

Loan slump brings managers closer
A 19% slide in new US loan volumes last year has left CLO managers with fewer options in the primary market, and portfolio overlap between US managers has increased to 35.3% on average

Loan slump brings managers closer

OC health check: second European 2.0 CLO reports junior OC breach
33 deals reported overcollateralisation (OC) breaches last week in a relatively quiet reporting period.  314 deals are now reporting OC breaches as of the latest report, according to CLO-i.

Spread tightening allows Sound Point to drop delayed draw double Bs in new CLO
Sound Point priced a $399.32 million new CLO via Citi today amid signs the market is on track to return to normalcy following the coronavirus outbreak

Rapid CLO M&A activity on the horizon as fee deferrals pick up
A flurry of M&A deals could soon sweep the CLO market as management fee deferrals become an increasing pressure point for small CLO managers

A different kind of crisis
Panellists on Creditflux’s US CLO webinar were positive about the robustness of CLO structures and the role of cure contributions. But they warned about zombie defaults and gaming tests

Post-sell-off US CLO volumes on track to pass $9 billion as Sound Point markets deal
US CLO volumes since the pandemic outbreak are on track to pass $9 billion as Sound Point Capital Management markets its first new issue since December

First Creditflux web panel discusses outlook for CLOs amid covid crisis
Panellists at the first ever Creditflux webinar conference on CLOs struck a balanced view on the outlook for their market, highlighting crucial differences between the crisis resulting from the coronavirus pandemic and the global financial crisis of 2008

Who’s got the moves US: oil and gas leads renaissance for US CLO managers
The US leveraged loan market has held steady over the last two weeks. After rising to just below 87 of par in mid-April, the S&P LSTA US Leveraged Loan index closed at 85.75 to start this week

34% of CLOs on track to miss equity payments, virtual conference hears
The impact of the coronavirus crisis on CLOs could only just be starting to bite, said panellists at a virtual CLO conference hosted by IMN

We’ve survived before, we can do so again

We’ve survived before, we can do so again
$7.8 billion of CLO collateral, split evenly between the US and Europe, is in the loans that have fallen fastest in the past month. But short term CLO pain will bring opportunities for building par

Euro CLO league tables: Carlyle doubles down in February as 2019's leaders look on
Carlyle Group has jumped to the top of the European CLO manager league tables after bringing two deals to the market in February

Credit funds at a glance

Sound Point adds third new CLO in first 10 months of European issuance
Sound Point Capital Management is keeping up the pace on its European CLO platform with its third new issue since its launch in April last year

CLO pipeline: Medalist ascends podium as new issues pace themselves
CLO managers are biding their time before re-entering the primary CLO market, but this week Investcorp Credit Management, KKR and Medalist Partners are marketing new issue US CLOs

Sound Point's breakneck pace of CLO issuance continues with third euro deal
Sound Point Capital Management has hit the ground running in Europe and has one of the fastest rates of issuance on the continent, with sources saying the manager is premarketing its third new issue CLO there

Deutsche Bank's global CLO head moves to big US manager
The head of Deutsche Bank's global CLO business has left after working at the firm for 16 years, with sources indicating he has taken a buy-side structuring job at one of the most prolific issuers in the business

Job opportunity with Sound Point: CLO structuring
Sound Point Capital Management is seeking a CLO structuring analyst for its New York team

CLOs face losses as Constellis loan drops to 28.5
32 CLO managers hold $640.4 million of Constellis Holdings’ debt, which Moody's downgraded to C after the company missed an amortisation payment due 31 December

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

US CLO league tables: CSAM makes it three in a row as Citi completes a clean sweep
The US CLO market suffered a drop in volume last year with $149 billion of issuance, down 43% on 2018’s $262.5 billion. But the heavy slump was not across all forms of CLO pricing, as new issues once again crossed $100 billion and only suffered a 6.5% fall