Carlyle defers $4 million CLO sub fees after loan downgrades
Carlyle Group deferred $4 million CLO subordinated fees in the first quarter, as a result of rating downgrades across the industry, the firm's quarterly earnings call revealed

US and European CLO triple Bs hit secondary market as downgrade fear sets in
Downgrade risk is being priced into triple B-rated CLO tranches, according to market sources, after a wave of mezzanine and junior CLO debt tranches swept onto b-wics yesterday

OC health check: another two CLOs fail senior OC tests
Two senior overcollateralisation test failures number among 26 deals joining the list this week of CLOs breaching their OC tests in April, according to the latest trustee reports on CLO-i.

European CLO triple Bs go from 99 to 73 in less than a month
European CLO mezzanine prices have fallen by almost 30 cents in less than a month, with a b-wic yesterday featuring a 2019 PGIM-managed CLO underlining the dramatic decline

US CLO double Bs struggle as 2020 deal drops 40 cents in three months
A gap is emerging between single A US CLO tranches and junior CLO debt after $33 million of single As changed hands yesterday via a b-wic with prices between 82 and 87 cents. But a 2020 CLO shows how fast and sharp the decline has been for junior CLO paper

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

Global CLO league tables - February 2020 YTD
Global CLO league tables - February 2020 YTD

Senior portfolio manager leaves Octagon ahead of move to rival CLO issuer
A CLO portfolio manager has left Octagon Credit Investors with market sources indicating that she is heading to a rival CLO issuer in New York

Carlyle prices triple As at market tights with new European CLO
Carlyle Group has priced its first new European CLO since July 2019 with triple As printing at market tights of 92 basis points

Global CLO b-wic round-up: that's another fine mezz you've gotten me into
European CLO investors are tripping over themselves to buy mezzanine paper in the secondary CLO market

Manager markets European CLO as single B attachments drop to 6.75%
Attachment points for CLO single B tranches are dropping with market sources indicating that a large European CLO manager is launching a deal with single Bs attaching at 6.75%

Beneath the triple C: $1 billion of CLO credits take a dive
$957.9 million worth of loans held by CLOs suffered downgrades to triple C last month, with a further $442.1 million of existing triple C credits getting knocked lower still, according to the latest trustee reports on CLOi.

Flurry of US CLO refis takes year's tally to 16
Four US CLO refinancings took place on Friday, underlining that 12- to 18-month deals can price their senior liabilities in the low 100s

Carlyle revives amortising euro CLO with upsized capital structure
Carlyle Group has reset a CLO in the middle of its amortisation period, giving a new lease of life to the deal named Carlye GMS Euro CLO 2015-1

CLO pipeline: a refi of nine cuts time (and margins)
Nine US CLO managers are preparing to refinance one of their CLOs to lower financing costs

Carlyle and Natixis prepare European CLO reset
Carlyle Group is poised to reset one of its European CLOs for another 4.5 years of reinvestment, according to market sources

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

Carlyle hires CLO investment specialist to structured credit team in New York
Carlyle Group has added to its CLO investment team after losing its co-head of global structured credit at the end of last year

Carlyle matches 2018 US new issue CLO volume with fourth deal of 2019
Carlyle Group completed its fourth US new issue CLO offering of the year on Friday, according to market sources

CLO tranche investor leaves Carlyle after 12 years
The New York-based co-head of global structured credit has parted ways with Carlyle, sources say. The firm is understood to have appointed a replacement in London

CLO pipeline: ESG, risk retention and secondary loans come to the fore
Managers new and old are trying different strategies and structures to price their latest deals    

Kroll fires back at ‘factual errors’ in WSJ CLO rating report
Kroll Bond Rating Agency has hit back at the Wall Street Journal article that suggested the firm gives higher ratings to CLOs than its competitors

Carlyle brings short CLO paper tighter with euro triple A refi
Short CLO spreads inched tighter in Europe yesterday after Carlyle Group refinanced the triple A notes of Carlyle GMS Euro 2013-1 at 66 basis points over Euribor

US CLO round-up: Fed up of waiting
The US CLO market made a bright start this year, but 2019 now lags 2018 and 2017 after a weak August checked its momentum. This has left some pinning their hopes on a favourable outcome to the US Federal Reserve meeting this week, amid political overtures to up its game in the wake of the European Central Bank's stimulus package

Carlyle prices its largest CLO transaction of 2019
Carlyle Group yesterday returned to the primary market with its largest CLO transaction of 2019, according to market sources