$350 million of CLO collateral drips into default as oil companies file for Chapter 11
CLOs hold $353 million worth of debt of two oil and gas companies - Ultra Petroleum and Gavilan Resources - which have become the latest casulties of the precipituous decline in oil prices. The pair filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas on Thursday and Saturday, respectively

CLO pipeline: Apollo targets fourth deal as managers line up to break 2020 ducks
Six CLO managers, five in the US and Fair Oaks Capital in Europe, are showcasing their first new issues of the year in preparation for pricing later this month. And Apollo Global Management is marketing its fourth new issue CLO (third US new issue CLO) in the last month and a half

Three-year US CLOs set to tighten as large managers market deals
US CLO triple A spreads are tightening sharply this week with market sources indicating that benchmark levels for three-year reinvestment deals have gone into the 180s

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

Secondary CLO debt trades well but Trace suggests CLO equity trading at 12 cents
A variety of CLO paper was in for the bid yesterday with US secondary CLO volumes reaching $281 million, and European volumes hitting €74 million

Ares takes different approach to primary CLOs as it plans three-year US deal
The primary market for CLOs since the coronavirus escalated into a pandemic last month is evolving briskly with Ares Management planning a new US CLO with a three-year reinvestment period

CLO pipeline: down but not out, as deals find new ways to limp forward
Deepening credit instability has taken a toll on CLO appetite, but there is still life in the primary market

CLO market celebrates Valentine's Day by romancing with resets
Refinancings have been the talk of the month in the CLO market, but this Valentines day saw managers turn their minds to resets

Few CLOs charred by Murray bankruptcy
25 CLO managers hold  $389.6 million exposure to the debt of coal company Murray Energy Holdings, which filed for Chapter 11 bankruptcy in the Southern District of Ohio on Tuesday, according to the latest trustee reports from CLO-i   

Ares joins exclusive group of managers to price six new CLOs in 2019
Ares Management yesterday completed its sixth new issue CLO of the year, joining the exclusive list of managers to have achieved this number of new money deals

Ultra Resources loan downgrade unlikely to burn CLOs
The downgrade of Ultra Resources to triple C is not expected to have a material impact on CLO portfolios, accordng to market sources. Loan investors took the matter in their stride as the issuer's term loan Bs are being quoted today at 68.4/70.2 - up from 68.2/70.25 from Thursday, according to IHS Markit

CLO pipeline: managers look to avoid a repeat of 2018 with new issue flutter
US and European CLO managers are preparing to up the ante in September, but they will have to defy a trend set a year ago

CLO managers cash in their chips as Caesars trade pays off
Caesars Entertainment was the most sold issuer in June with $158.8 million of its term loan sold out of CLOs.

Global CLO b-wic round-up: 71% of equity positions trade as supply picks up
The European and US secondary CLO market took a step back this week as the primary CLO generated $7.8 billion of deal flow globally

Ares refinances single tranche of 2016 CLO
Ares Management returned to the CLO primary market on Friday to price its seventh transaction of 2019

US CLO b-wic round-up: secondary volumes reach new heights with equity lagging
The US CLO secondary space saw almost $1.8 billion of paper listed last week according to CLO-i, a record amount for this year. Equity, however, did not draw much interest

Global b-wic round-up: Short-dated CLO paper hits the market
Last week brought over $800 million of b-wics listed in the US CLO secondary market for the first time this month, with around 10% being paper that had a reinvestment period that ended in 2019.

Spire wins Creditflux Manager of the Year award
Spire Partners was the big winner at Creditflux's Manager Awards last night as the London-based manager scooped the award for the manager of the year. On top of this, the firm picked up awards for Best European CLO Manager and Best European CLO for Aurium CLO II

US CLO league tables: heavyweights dust off and jump back in the ring
Competition has prevailed after a tough quarter for the CLO market, in which banks offloaded their carry-ons from last year

Ares makes it three new issue US CLOs with $589 million deal
Ares Management has produced its fourth new issue CLO of 2019 and its third in the US

US CLO managers look to scale flat WALs in search of flexibility
The anticipation of a downturn in the credit cycle has made investors turn their attention toward document provisions that give CLO managers flexibility

Ares aims for four new issue CLOs in 2019 as it markets $590 million deal
The one manager that has priced three new issue CLOs this year is marketing its fourth

Global CLO round-up: 15 months to one month - managers set their own pace
Three new US CLOs priced this week courtesy of; Seix Advisors, via BNP Paribas; Kayne Anderson, via Goldman Sachs; and Steele Creek, via RBC. In Europe, Oaktree Capital Management paired with Barclays to price Arbour CLO VI.

Former Ares partner takes on head of structured products role at Sound Point (correction)
A figure with more than 20 years of experience in CDO and CLO markets has resurfaced at Sound Point in New York