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

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

US CLO single Bs reach post-crisis tights despite rating pressure
US CLO single Bs are trading at their tightest levels since the coronavirus pandemic outbreak and ,while these bonds make up a tiny slice of the market, more and more instances of single B b-wics are ocurring

CLOs hold $600 million of bankrupt retailer Tailored Brands
Tailored Brands has become the latest US retailer to file for Chapter 11 as a result of the coronavirus-induced pandemic. 37 US CLO managers hold $588.9 million in term loans of the Houston-headquartered firm,

Carlyle defers $4 million CLO management fees in the second quarter
Carlyle Group deferred $4 million subordinate fees on its CLOs in the second quarter, representatives for the firm announced on the company's earnings call on Thursday

Carlyle prices fourth largest covid-era CLO with $499.4 million new issue
Carlyle Group has priced one of the largest new CLOs following the March sell off, teaming up with Citi to issue the $499.4 million Carlyle US CLO 2020-1

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

Global CLO b-wic round-up: spreads widen in short week to end manic June
A shortened week brought an end to a manic month of secondary CLO activity. $343.5 million of US CLO and €309 million of European CLO paper was on sale last week, dropping $1.05 billion and €170 million from the previous week

CLO pipeline: Managers prepare to build on momentum in July
The demand for new issue CLO paper is strengthening with eight US CLOs, one mid market CLO and three European CLOs preparing to print in the coming days

Moody's downgrades five tranches from three Carlyle-managed CLOs
The rating agency took action on the ER tranche of Carlyle's 2015-3 CLO, the CR and DR tranches of its 2015-4 CLO, and the CR and DR notes of its 2016-4 deal

OC health check: US CLOs show improvement as first euro CLOs breach multiple tests
15 deals reported a breach in an overcollateralisation test last week according to the latest reports available on CLO-i, including one European CLO and 14 US broadly syndicated loan CLOs.

Global CLO b-wic round-up: US triple Bs edge wider but 2020 bonds trade at a premium
The furious rally that the secondary CLO markets have gone through over the last two weeks was brought a halt by the Federal Reserve’s reminder on Wednesday night that all is still not well with the economy