Past returns: Highland sells European CLOs at second attempt
In Creditflux 10 years ago, we reported that Highland Capital Management was offloading its European CLOs, with Alcentra and Barings among the frontrunner

CLO pipeline: US adds deals at frenetic pace as Europe catches breath after record start
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

Waiting for afters
Day one arb remains important, but last year there were opportunities aplenty in the secondary market, which put the onus on printing CLOs and waiting for the day after non-call periods expired

Carlyle brings 2021 US new CLO volume to $1.14 billion with tightly priced deal
Carlyle Group priced its second new US CLO of the year on Friday, teaming up with Citi to place the $508.8 million Carlyle US CLO 2021-2

Carlyle pushes tighter with US CLO partial refi
Carlyle Group has tightened pricing on four tranches of a 2017 CLO with a partial refinancing, adding to a flurry of activity by the manager in recent weeks

Global CLO b-wic round-up: 2020 deals trade at premium
As the primary CLO market continues to grind tighter, the secondary market is holding steady, but last year's vintages are trading well as they near the end of their call-locks

Carlyle holds first close on opportunistic credit fund amid 2020 'record fundraising'
Carlyle Group has held an initial closing on its second opportunistic credit fund amid a record credit fundraising year for the firm

It's all relative: CLOs are lagging no more, as Carlyle deal drags market tighter
“CLOs are lagging” has been a much repeated refrain over the last nine months. But Carlyle Group has this week produced a US CLO that has dragged spreads to their tightest point in three years so that, rather than comparing CLOs to pre-covid levels, they should be assessed against early 2018

Carlyle scores tightest CLO triple A print since 2018
Carlyle Group has priced a new record triple A spread on its latest deal at just 114 basis points over Libor, a full 5bp inside previous market tights

Global CLO league tables - November 2020 YTD
Global CLO league tables - November 2020 YTD

CLO pipeline: LCM switches arranger to complete deal and join issuance surge
Over $3.5 billion of global CLO issuance priced last week and managers in all three CLO markets are taking advantage of tightening spreads across the capital structure after three major covid-19 vaccine breakthroughs and increased confidence since the US presidential election

Global CLO b-wic round-up: Secondary markets rally despite ‘worst liquidity seen all year’
An adjournment in the US for Veterans Day last week still left plenty of time for the CLO secondary market to rally, thanks to Pfizer's covid-19 vaccine breakthrough and a firmer indication of the US presidential election results

US and European CLO PMs earn promotion as Carlyle's Pace takes on new role
Carlyle Group’s global head of liquid credit has decided to take on a new role as vice chair of global credit, according to an internal memo seen by Creditflux, which will involve investing capital across the Carlyle platform

Carlyle secures 132bp triple As on second post-covid CLO
Carlyle Group printed its second CLO post-covid on Friday, teaming up with JP Morgan on the new $359.8 million deal named Carlyle US CLO 2020-2

CLO pipeline: three behemoths prepare for quick-turnaround new issues
CLO managers have printed at a frenetic pace since the start of the quarter with $3.36 billion of issuance across all CLO markets and pricing types

Libor floors and Volcker tweak bode well for future of CLOs
It’s been a truly miserable year, but amid all the despair covered so tirelessly by the mainstream media has been an omission; namely, that CLOs have withstood the damage caused by the pandemic

Faith in structures has been rewarded
CLOs have been resilient against covid-19 fallout, said speakers at Creditflux’s CLO Symposium last month. But there’s always room to improve and 3.0 deals may add ESG and bullet tranches

Investors sell downgraded CLO tranches as single Bs widen sharply
Four CLO tranches downgraded during the third quarter are featured on a b-wic today that concludes 11am New York time, offering investors a chance to cash in on the recent spike in junior CLO spreads

Global CLO b-wic round-up: CLO lower mezz tightens while equity investors strive for duration
A large supply of CLO paper flooded the secondary market last week as $1.5 billion of US CLO bonds and €370 million of European CLOs were listed, according to CLO-i

Churchill appoints former Carlyle official to lead investor relations
Churchill Asset Management has appointed a former Carlyle Group official as a senior managing director and head of investor relations

Global CLO b-wic round-up: dealers get involved amid rally, but dispersion persists
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

iQor files for chapter 11 with CLOs holding $260 millon
17 CLO managers hold $263.1 million term loans of customer services provider iQor, which filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas today

Details emerge on nature of Revlon payment 'error' and lender attitudes
Fresh details have emerged on the nature of the ‘operational error’ Citi says took place when it transferred $900 million to Revlon loan holders

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

Global CLO league tables - July 2020 YTD
Global CLO league tables - July 2020 YTD