CLO platform M&A sees green shoots
ANALYSIS: CVC’s recent agreement to acquire Marathon Asset Management in a deal that sees the top European CLO player double-down on its US CLO presence may prove the start of trend 

CLO investors push managers on arb; delaying European issuances
Conversations between CLO investors and managers around arbitrage may be causing a delay in new issuances, sources say

CVC enhances US credit offering with Marathon acquisition
CVC Credit has extended its reach in the asset based, real estate, opportunistic and public credit markets by acquiring US credit manager Marathon Asset Management

Trio of Euro resets reinforce tightening trend as CVC revisits 175 AAs
CVC and Onex both printed resets with triple As at 130, while Sculptor upsized its latest print to a target par of EUR 450m

CVC prices Euro AAAs at 132, while mezz clears wide of guidance
The manager's third new Euro CLO for 2025 issued on Thursday via Natixis

CVC markets new European CLO via Natixis
The issue would be CVC’s third new Euro issue for the year, following prints in February and May

Euro CVC reset prices AAAs at 133
The reset of the 10-year-old deal follows a previous refinancing in 2019

CVC matches current Euro tight with latest new issue
The deal, which priced its senior triple As at Euribor plus 133bps, increased the manager’s total European issuance for 2025 to just under EUR 2.76bn

CVC prices first sub-140 reset in Europe since Trump tariffs
CVC Cordatus Loan Fund XXVII CLO priced in line with investor guidance published last week

Price talk puts Euro CVC reset at 138bps
The repricing of the two-year-old CLO is expected next week

CVC upsizes two-year-old Euro CLO in latest reset
The 2023-vintage transaction increased the value of the cap stack by almost EUR 106m

European spread narrowing sees historically tight deals reset
Both CVC and Five Arrows have reset 2018-vintage transactions  

New CVC issue cuts Euro AAA tight by two basis points
CVC’s first new Euro deal of the year priced triple As at 120, two basis points inside the previous low – but its overall cost of funding remained slightly wide of the tightest for the year

Bain and CVC are marketing new European CLOs looking to price next week
Price talk is circulating for two new European CLO issues from Bain and CVC, both valued at around EUR 405m and arranged by Jefferies  

European BB spreads set to tighten as "fast money" chases yield
Mezzanine spreads on European CLOs look as though they will fall significantly lower as investors take on more risk

CVC slashes cost of funding by more than 100bps on latest Euro CLO reset
The reworking of CVC Cordatus Loan Fund XXVI tightened spreads through the stack on the 2022-vintage deal

CVC prices fourth new issue European CLO of 2024
CVC has priced its eighth European deal, and fourth new-issue transaction, of 2024 called CVC Cordatus Loan Fund XXXIII that was arranged via BNP Paribas

CVC resets older Euro CLO deal with smaller equity infusion than guidance
CVC has priced a reset of a 2016-vintage European CLO that made significant changes to the capital structure including an equity injection

CVC gears up to reset a 2016-vintage European CLO
CVC has joined the Autumn deal calendar and has been marketing a reset of a 2016-vintage CLO via Natixis

CVC prices delayed double-B CLO tranche but withdraws single-B
HSBC has followed up its lead arranging return by pricing one of the two deferred tranches from the refinancing of CVC Cordatus XXII

HSBC makes a splash with first lead-arranger credit
HSBC has teamed up with CVC Credit Partners to print a EUR 102.5m partial refinancing of a 2022 vintage CLO in the bank's first lead arranger credit in many years

European CLO spreads break into 120s with new CVC print
Furthering a tightening cycle that began at the end of last year, CVC has become the first manager in Europe to price triple-A coupons in the 120s this year

Europe sees another tight print
CVC added to last week’s rush of European deals with CVC Cordatus Loan Fund XXXI – the manager’s seventh transaction of the year

2022 vintage deals score again as COLF is called with 49% gross IRR
2022 vintage deals score again as COLF is called with 49% gross IRR

CVC leaves triple As unchanged in rare refi
Goldman Sachs arranged a second European deal of 2024 for CVC Credit Partners last week, with a refi that left the triple As unchanged