Ares adds sixth deal to 2023 tally
The wave of CLOs that priced today included a new US CLO for Ares Management arranged by Bank of America

Ares turbocharges European CLO
Jefferies arranged a new European CLO on Thursday featuring a turbo feature for the class F notes

Triple As dip back under 170bp as Ares reset prices
Citi reset a 2022 vintage US CLO for Ares on Wednesday, the first deal this month with triple A levels below 170bp

CLO round-up: blinded by the tights
Secondary CLO spreads continued to grind tighter this week and, at last, the primary market began to follow in both the US and Europe

Triple As tighten to 170bp as Ares resets 2022 CLO
Ares Management teamed up with JP Morgan on Monday to reset its 2022 deal named Ares CLO LXVI, with the triple A notes matching the tightest print of the year

2023's mid market CLO volumes pass $13 billion as Ivy Hill prices
Ivy Hill Asset Management priced its second middle market CLO of the year on Wednesday named Ivy Hill Middle Market Credit Fund XXI

Pressure starting to mount as CLO warehouses turn stale
In the US CLO market, deals have been marinating for a long time. That’s to say CLO warehouses – the traditional appetiser before a CLO is served – have been at the prep stage far longer than managers would have originally expected.

New CLOs from AGL and Ares amount to almost $900 million issuance
AGL Credit Management and Ares Management both priced a new CLO on Thursday, with the two transactions amounting to $882.75 million issuance

Triple As heading back to 180s as tranches on new Ares US CLO go subject
The tranches on a forthcoming CLO from Ares Management named Ares CLO LXVIII went subject on Monday with triple A spreads set to head back into the 180s

US CLO pipeline: issuers takes credit sell-off in their stride as supply picks up
Despite the collapse of Silicon Valley Bank and Signature Bank in the last week, the CLO machine has continued to churn with just shy of $5 billion of US and mid market CLO issuance this week

Ivy Hill climbs back into CLO market after Natixis plants mid-market deal
Ivy Hill Asset Management is back with its first middle-market US CLO in two years 

Beneath the triple C: Winter is coming for CLOs as downgrades outstrip upgrades
Both US and European issuers have felt downward pressure from the rating agencies as we head towards the end of the year, with downgrades to triple C now firmly outpacing upgrades out of it.

Ares prints new issue Euro CLO via BofA
Ares Management has priced a new issue European CLO, Ares European CLO XVI

Ares targets today for European CLO pricing
Ares Management is targeting today to price its new issue European CLO, Ares European CLO XVI

Ares markets first 2022 CLO in Europe
Ares Management is targeting Wednesday to price a new issue European CLO 

Ares prints new US CLO with 220bp senior triple A print
Ares Management priced a new CLO on Monday with a senior triple A spread of Sofr plus 220 basis points

Ares markets new $400 million CLO via Nomura
Ares Management is marketing a new CLO via Nomura, with pricing expected next week

US CLO pipeline: issuance expected to slow as blockages emerge
Only three new deals have been added this week to the list of forthcoming CLOs. The pipeline is suffering from some blockage after only four US CLOs priced last week 

CLO managers find safety and return potential in IG
An investment grade bond might not seem the most suitable candidate for a CLO portfolio, but managers are increasingly going up the capital structure as they brace for a recession.

LP round up: $2.7bn flows to 20 credit managers as investors battle PE overallocation
Investors faced huge headwinds in September with inflation, rising interest rates, and geopolitical turmoil, alongside the UK gilts sell-off at month end

Identity of sellers emerges as CLO equity blocks change hands
Two majority equity positions have changed hands in the secondary market over the last two days, with details behind the cover price and sellers coming to light 

Three control CLO equity positions hit market with another to follow
Three anchor US CLO equity positions were listed on the secondary market yesterday in what was a busy day for investors

Quick! Avaya has ignited and $1 billion of CLO assets are at risk
Sparks are flying in the leveraged loan and high yield market after communications company Avaya Holdings slashed its forecasted earnings mere weeks after syndicating new debt. The rapid decline of Avaya's debt has left CLO managers little time to avoid the blaze

Credit funds at a glance (August 2022)
A round up of fundraising and people moves in credit
   

Large US manager closes third captive CLO equity fund
The $140 million fund is anticipated to invest in over five of US CLOs