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Invesco reduces CLO funding costs by 30 basis points in refi
4 years ago
Invesco has reduced the funding costs on Verde CLO, a 2019 transaction, by 29.58 basis points following a $457.2 million refi arranged by Goldman Sachs -
Blackstone and Invesco hold CLO triple A levels at 100bp
4 years ago
Invesco and Blackstone Credit each issued new CLOs in recent days with first pay notes locked in at 100 basis points over Libor -
Global CLO b-wic round-up: record level of CLO paper stalls rally
4 years ago
Record levels of primary and secondary CLO supply has left investors spoilt for choice and led to the CLO rally stalling -
Points up front: A gander at Recette’s reset
4 years ago
The paths of a CLO and the restaurant it was named after are entwining after Invesco reset its 2015 CLO, Recette, last month. -
CLO pipeline: US adds deals at frenetic pace as Europe catches breath after record start
4 years ago
US CLO investors have numerous deals to consider with 13 new issues and 15 repricings being prepared to flood the market in the coming days -
Credit fundraising: ESG centre stage as capital pours into new strategies
4 years ago
Sustainability was the watchword for fundraising in February, amid a flurry of fund launches as well as first closes for impact funds and sustainable bond funds -
Invesco flavours 2016 CLO vintage with single B notes
4 years ago
Invesco has priced a $553.6 million reset of 2016's Riserva CLO via Goldman Sachs, inserting a new single B-rated liability tranche into the structure in the process -
Recette reset takes US CLO market to new tights
4 years ago
Invesco has priced the tightest CLO reset in the market with a triple A print of just 108 basis points over Libor -
Large US manager launches CLO equity fund
4 years ago
A US manager headquartered in Atlanta has raised its latest CLO equity fund and collected at least $133.6 million of capital for the strategy -
US CLO league tables: new issue rankings go to wire as post-pricing upsizes pop up
4 years ago
The new issue US CLO rankings are tightly contested with JP Morgan leading Citi by just $641 million with one month left of the year. Even in December's typically slower weeks this is a closeable gap -
LP round up: Arcmont, Ares and Sixth Street win European direct lending mandates
4 years ago
Investors have allocated around $2 billion to credit funds in recent weeks, according to board documentation seen by Creditflux. Among those to recieve allocations include ADM, Arcmont, Ares, Audax, Bain, Centerbridge, Clearlake, Goldman Sachs merchant banking, Invesco, Monarch, Oaktree, Raven, Sixth Street and Sound Mark -
Europe leads corporate credit rally, but US outperforms in CLOs
4 years ago
iTraxx Crossover has been the CDS market's outperformer this week, tightening over 30 basis points, or 11.4%, to trade at 235bp today. But in the CLO market, US deals have come out on top thanks to a BlackRock CLO that priced its double Bs at some of the tightest levels this year -
Invesco scores tightest three-year triple A print with first US CLO in 12 months
4 years ago
Invesco has returned to the CLO primary market with a first new issue deal since October 2019 -
LP round up: EIF backs four debt funds while Carlyle wins $1 billion
4 years ago
Institutional investors have allocated just over $4 billion to 27 credit managers in October board meetings -
Global CLO b-wic round-up: dealers get involved amid rally, but dispersion persists
4 years ago
The CLO secondary markets returned to form last week with $716.2 million of US CLO bonds and a further €306.5 million of European CLO paper listed. Although for both markets over half of the total volume listed came from Thursday’s scheduled b-wics -
MUFG refis fixed rate tranches in two US CLOs
4 years ago
Mitsubishi UFJ Financial Group refinanced fixed rate tranches in CLOs managed by CBAM and Invesco yesterday -
CLO pipeline: AGL aims high as it prepares fifth new issue of 2020
4 years ago
US CLO managers are sensing opportunities in the CLO market either via new issue CLOs or by refinancing the fixed-rate tranches in their legacy deals -
Fieldwood slips into second bankruptcy as CLOs hold $314 million
4 years ago
CLO managers hold $314.5 million of oil and gas drilling company Fieldwood Energy, which filed for Chapter 11 bankruptcy yesterday for the second time in two years -
CLO pipeline: Redding Ridge plans fourth US CLO since March
4 years ago
Last week proved to be one of the busiest weeks of the primary CLO market since the start of the coronavirus pandemic, with $5.21 billion worth of new paper issuance coming through: eight US CLOs, one middle market deal and three euro CLOs -
Managers raise billions to take advantage of talf opportunities
5 years ago
Aegon, Payden & Rygel, Invesco, Morgan Stanley IM, Voya and Palmer Square are just some of the latest managers to have raised funds dedicated to the strategy -
CLO pipeline: marathon runners and sprinters join the race
5 years ago
Five new CLOs priced last week, four of which were US issues and one European, but they have been ably replaced in the pipeline, with a handful of managers looking to strike while the CLO market is still hot -
European investors eye 180bp pick-up on triple B CLOs traded in April
5 years ago
A b-wic consisting of mostly European triple B CLOs that traded in late April is on offer at 9.30am New York time tomorrow, according to market sources, as data shows spreads for the rating band averaging 546 basis points over Euribor as of 27 May -
Invesco suffers Moody's downgrade after struggling to delever balance sheet
5 years ago
Moody's has downgraded Invesco Ltd from A2 to A3 citing the "challenges Invesco has faced delevering its balance sheet following the acquisition of Oppenheimer Funds", the rating agency said in a notice -
Benchmark European 2020 CLO trades 11 points down in secondary
5 years ago
A senior European CLO investor has flipped €21.9 million worth of notes onto the secondary market, selling eight of nine line items via a b-wic, sources say. Meanwhile, US CLO trading switched from being investment grade focused over the last month to being centred on below IG tranches yesterday: IG volumes reached $574 million versus $926 million for lower rated tranches -
CLO pipeline: make some noise for repricings
5 years ago
CLOs may be a bit late to the spread-tightening party, but a hoard of CLO repricings is aiming to make up for it by sheer volume
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