Four-year CLOs return to Europe as CBAM makes breakthrough
Citi returns to the European CLO market after a six month hiatus, while CBAM delivers Europe's first four-year CLO post covid

Investcorp completes second largest European CLO since March sell-off
Investcorp has upsized its latest European CLO since marketing, with the manager pricing a €419.6 million transaction

PGIM embarks on European CLO comeback with first deal since early March
PGIM is set to price its first post-covid European CLO as the manager markets Dryden 79 with triple A notes within range of a deal which it priced in early March

Fair Oaks sprints its way to second European CLO in four months
Fair Oaks Capital has priced its third European CLO transaction and second in four months, according to market sources, with the London-based manager opting for a print-and-sprint route for this deal.

CLO triple As expected to tighten to low 120s as CVC markets European deal
CVC Credit Partners is marketing a European CLO with triple As guided at Euribor plus 120 basis points to 125bp

Global CLO b-wic round-up: secondary CLOs rally but dispersion persists
The US CLO secondary market rallied, and spreads compressed last week, but there are still several outliers

Double B CLOs on downgrade watch up for grabs as market eyes tightening
CLO double B spread averages tightened 24.44 basis points on Wednesday, ending a 22-day widening streak. On Thursday, a b-wic of seven CLO double Bs goes live at 11am New York time and should clarify if spreads will tighten further

Global CLO b-wic round-up: secondary prices reach March levels
The Memorial Day bank holiday in the US and the late May bank holiday in the UK meant a short week for CLO trading, but that did not stop a good supply of US CLO triple A rated paper making its way to the secondary market

Beneath the triple C: April showers send buckets overboard
Downgrade waves rocked the CLO market in April as Moody's and Standard & Poor's downgraded 135 corporate borrowers to triple C or below, from ratings above that level. The downgrades put CLOs in rough waters as $41.6 billion of such loans are prevalent in US CLOs while €5.64 are moored in European CLO portfolios – affecting 5.92% of the US market and 4.37% of the European market

Who's got the moves US: Carlyle leads as $3.7 billion of CLO loans recover
CLOs were exposed to $833.4 million worth of paper in the 10 term loans that suffered the largest price falls last week. But CLOs also had exposure to $3.67 billion of loans that recovered the most over the seven days.

GSO out the gate with first new issue CLO post-covid 19 crash
GSO Capital Partners today became the first manager to issue a CLO following the coronavirus-triggered financial crash

PGIM revives CLO plan with switch to static transaction
The CLO market has been on hold for three weeks due to coronavirus-induced volatility, but experienced CLO managers are attempting to revive the primary pipeline via a static format

Kayne Anderson prices US CLO in line with experienced issuer as triple As tighten
Kayne Anderson underlined its position as one of the leading CLO issuers among the new generation of CLO managers, pricing a US CLO on the same day as PGIM

Redding Ridge prices senior triple As at 123bp in new US CLO
Redding Ridge Asset Management teamed up with BNP Paribas today to issue the manager’s latest new issue CLO, known as RR 8

AGL prices largest five-year CLO so far in 2020
AGL Credit Management has priced the largest new money CLO of 2020 with five years of reinvestment

Global CLO round-up: welcome back, give us a (refi) wave
Tighter corporate credit spreads means new issue volumes are down, but it makes a decent entry point for new CLO managers to price deals and also makes refinancing CLOs imperative

KKR goes for three years of reinvestment to capitalise on steep CLO term curve
KKR Credit has priced the first three-year CLO of 2020 as the manager looks to capitalise on a steeper term curve

Pacific AM prices first new US CLO in 18 months
Pacific Asset Management has sailed back into the CLO primary market with its first new issue deal since May 2018, becoming the first CLO manager to issue a five-year reinvestment CLO in 2020

Investcorp lines up new CLOs on both sides of the Atlantic
Investcorp Credit Management is gearing up to price new issue CLOs in both the US and Europe, according to market sources

TPG CLO points to tighter pricing across all ratings bands
TPG Capital has launched a new issue CLO via JP Morgan, with price talk pointing to tighter CLO liability pricing heading into the new year

Apex brings 2019's CLO market to a close with final transaction
Apex Credit Partners, the CLO management arm of Jefferies, brought 2019’s CLO market to a close on Christmas Eve by pricing the final transaction of the year

Barings splits triple As for latest new issue CLO
Barings has split its latest European CLO’s triple A notes into senior and junior tranches in a rare move for the European market

PGIM launches US CLO with unfunded double Bs
To double B or not to double B, that is the question as PGIM issues an unfunded double B-rated note as part of Dryden 80 CLO, a new issue deal which priced on Friday via Bank of America

Global CLO b-wic round-up: volumes jump as investors get their triple A fix
The US CLO secondary market brought over $1.2 billion in total listings last week with the main driver behind last week’s supply being an increase in US CLO triple A bonds and an anchor equity position.

Mid market CLO league tables: Golub and Natixis increase their leads
August saw over $2 billion of issuance in the mid market space with managers that have been active this year, returning managers and debut managers all pricing last month.