Marathon sees value in Sofr CLO tranche over fixed-rate option
Marathon Asset Management stole a march on other CLO issuers by including a Sofr tranche as part of a new issue transaction on 10 November via Bank of America. Officials at the company say the Sofr tranche makes a compelling alternative to a fixed-rate tranche

Market ponders Sofr spread adjustment amid investor lag
The CLO market is waving goodbye to Libor as a benchmark rate and transitioning to alternatives for the first time in the history of the asset class. But there is no consensus as to what the Sofr spread adjustment should be, and some of the largest buyers are said to be slow to consider the impact of a benchmark transition

Unique Onex CLO draws in ABS crowd with replenishment structure
Onex Credit Partners struck a compromise between debt and equity investors last week when it created the first CLO to feature a replenishment period, according to market sources. Creditflux analysis of the CLO's execution suggests it was well recieved. 

Onex issues rare short-dated CLO structured with replenishment period
Onex Credit Partners has issued an unusual short-dated CLO that utilises a replenishment period as opposed to a reinvestment period

US CLO pipeline: Carlyle and Blackstone aim for CLO-a-month 2021 as BlackRock goes for baker's quadruple
The Thanksgiving holiday has not dampened the US CLO market’s appetite as a flurry of deals are set to price in the next couple of weeks. That includes 18 new deals, 11 resets and seven refinancings in the US

CLOs at a glance (November 2021)
A listing of CLOs that have priced in the last month

Sofr so good as Onex prices breakthrough CLO with Libor replacement
Onex Credit Partners made CLO history on Thursday by partnering with Nomura to reset OCP CLO 2015-10, becoming the first firm to issue a liability tranche linked to the Libor-replacement rate Sofr,

Nomura closes in on Sofr CLO milestone with 15bp emerging as standard for spread adjustment
Nomura is close to a major breakthrough by arranging the first CLO transaction with a Sofr pricing component

Onex's 2021 US CLO volume passes $1 billion with fixed-to-floating tranche
Onex Credit Partners priced its second new US CLO of the year on Friday, bringing its issuance volume for the year over $1 billion for the first time

Lead Onex CLO PM joins Dallas-based credit start-up Sycamore Tree
Start-up credit manager Sycamore Tree Capital Partners has hired an experienced CLO PM to oversee its nascent CLO management business

Onex opts for shorter reinvestment on 2020 Euro CLO reset
Europe’s CLO market has taken a welcome summer pause in the second week of August - with Onex's reset on Thursday the first deal of the week 

Three CLO resets from Natixis grow market $450 million via upsizings alone
Natixis has priced CLO resets for Benefit Street Partners, Onex Credit Partners and Voya Investment Management that include big upsizings, with the combined total amounting to $455.1 million of additional CLO paper

Two analysts poised to join Onex as it expands in European credit
Onex Credit Partners is adding research analysts in London

Onex shakes up senior debt structure in refi of 2019 CLO
Onex Credit Partners has restructured the senior debt tranches of OCP 2019-17 after refinancing the deal via Citi

Onex prices its first CLO of 2021
Onex Credit Partners has issued its first new CLO of 2021

CLO pipeline: go long! new issues and resets push refis aside
The CLO market is ready to go beyond refinancings - after this year's opening blitz of those deals - into the longer tenored territory of resets and new issues

CLO pipeline: expensive 2019 CLOs in vogue with 32bp savings potential
The CLO pipeline is dominated by refinancings and resets, with new issuance taking a backseat

CLO pipeline: Carlyle eyes fourth new issue in two months but refis and resets dominate
Manager focus has shifted to reworking vintage CLOs to lower funding costs in a much tighter market, with the new issue US market having slowed

CLO pipeline: busy year, so let's take time to reset
The US CLO market this year has been dominated by new issues and refinancings, but now is the time of the reset judging by this week’s pipeline

Onex converts notes to loans in revamped 2019 CLO amid $457 million refi
Onex Credit Partners has completely overhauled the capital structure of its 2019 deal named OCP CLO 2019-16 as part of a refinancing, including converting parts of tranches originally issued as bonds into loan format

Onex hires former BlackRock official as European CLO head following departure
The appointment comes after the departure of Onex's senior-most European CLO portfolio manager Steve Baker late last year

Onex prices sixth CLO primary market transaction of 2020
Onex Credit Partners returned to the CLO primary market on Thursday to print its sixth transaction of 2020

Onex claims three new US CLO equity investors
Onex Credit Partners has confirmed the pricing of a US CLO earlier this week, which it says resulted in three new equity investors to its platform

Onex prints seniors at 141.6bp in five-year reinvestment CLO
Onex Credit Partners has priced its third US CLO post-covid, and its first with a five-year reinvestment period

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