Resets prove lynchpin of US issuance as deal flow ramps up
US CLO issuance this week was dominated by a brace of resets, with deals issuing from the likes of AGL, AMMC, PPM, Sycamore Tree and Saratoga Investment Management

Global CLO law firm rankings - Q2 2025
Our global rankings for CLO law firms for the first half of 2025

AGL resets three-year old US CLO
The deal, which added a substantial slice of additional equity, saw the senior triple As clear at SOFR plus 130bps

Global CLO law firm rankings - FY 2024
Our definitive global, US and European rankings for CLO law firms in 2024

Marathon prints its seventh primary CLO deal of the year
Marathon prices US BSL CLO sized at USD 404.65m

2019 Oaktree US BSL CLO gets reset
After printing a European reset two weeks ago, Oaktree headed back to the market on Tuesday with a US reset this time

Large CLO investor sells three post-reinvestment anchor equity positions
Three control equity positions were on sale on Thursday at 9am EST (2pm GMT) in the same list. The bwic listing was made up of three 2017 US CLOs, all of which are post-reinvestment and have not been reset in the years since

Euro CLO mezz widens amid macro concerns as Cairn prints new issue and Oaktree pulls reset
Cairn priced its latest European CLO new issue, Cairn CLO XV, with the widening non-IG tranches reflective of broader macro and geopolitical stresses

Trinitas resets 2019 CLO in line with recent new issues
Trinitas Capital Management on Tuesday reset its 2019 CLO, Trinitas X via BNP Paribas, according to market sources

Aegon scores tight print with first new issue US CLO of 2022
Aegon USA Investment Management made a return to the new issue US CLO market on Wednesday, according to sources

Euro CLO single Bs widen to March 2020 levels as Partners resets
DMs on the Penta 3 reset were not disclosed but wider volatility in the market has led single B coupons on Penta 3’s deal to blow out to 983bp. But the CLO's senior tranche remained in line with guidance

Financial-corporate compression in play as relief rally extends
Credit markets are experiencing a second day of improvement, with financials outperforming corporate borrowers in the investment grade arena

Dispersion returns at wide end as credit deterioration extends
Credit spreads are back to their widest since mid-October - and approaching the year's extremes - amid a second straight session of sharp deterioration

Trimaran refis CLO in largest AMR auction to date
Trimaran Advisors has refinanced its Catamaran CLO 2014-1 via an applicable margin reset (AMR) auction

US CLO pricing lab: let’s refi like it’s 2017
The new issue US CLO market has been a slow burn over the last two weeks with only six deals being brought to the market amid wider triple A spreads. But the repricing market has been booming with today’s triple A levels still comparatively cheaper than previous vintages exiting their non-call periods

Brigade, GoldenTree and Sculptor reset $1.5 billion of CLOs
Brigade Capital Management, GoldenTree Loan Management and Sculptor Capital Management took to the CLO primary market on Friday to price a combined $1.53 billion in CLO resets

AGL cuts debt cost by 123bp in first reset of post-covid CLO
AGL Credit Management has become the first CLO manager to reset a post-covid CLO outside of static-to-static transactions

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

Oaktree markets first 2020 Euro CLO via Barclays
The €300 million deal, named Arbour VIII, is expected to price in the week beginning 13 June

Trading places: it can pay to bet on the little guy
It’s assumed investors know how good a CLO manager is by the rate at which they trade their way through a crisis. But this time fi ve small, nimble managers are outperforming the market

Beneath the triple C: downgrade rate slows as $8 billion of CLO loans tumble
May offered some respite to CLO portfolios as corporate downgrades to triple C were reduced heavily - affecting just $6.67 billion of US CLO paper and €1.09 billion of European CLO portfolios

CLO double Bs begin bounce back in b-wic bonanza

Global CLO b-wic round-up: US CLO equity returns in big way as four control positions hit the market
Over $230 million of US CLO equity went on sale last week via bid lists, the first time these assets have made their way to the secondary market in 2020. It also marks the most US CLO equity listed in a week since at least 2018, according to CLO-i

Global CLO b-wic round-up: junior mezz rebounds with busiest week since June
Secondary market CLO trading has made a busy start to 2020 with $478.6 million of US deals and €103.3 million of European CLOs up for sale last week

HalseyPoint markets debut deal with single Bs as senior US CLO spreads gap wider
HalseyPoint Asset Management is marketing a debut US CLO, which brings a return to CLO issuance for experienced portfolio managers Lynn Hopton and Yvonne Stevens