BofA bumps up Euro CLO refi/reset forecast as CVC and CBAM rework 2020 deals
Bank of America analysts revise forecasts of European CLO refinancing and reset volumes this year by €15 billion, as CBAM and CVC become the latest to rework deals

CLO triple As drip wider in Europe as CVC prices refi in line with recent new issues
European CLO refinancing triple As have widened with CVC’s Cordatus Loan Fund XIV the latest to price.

Euro CLO league tables: out with the old, in with the new as Jefferies leads way
Despite being a newcomer to the European CLO market this year, Jefferies has taken the market by storm and leads the way in overall European CLO issuance

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

CVC pairs with Goldman to market Euro CLO refi
CVC is pairing with Goldman Sachs to refinance a 2017 European CLO, in a deal that will merge some of the original asset classes

European senior mezz hits tights as CVC resets CLO
CVC Credit has reset its 2017 European CLO CVC Cordatus Loan Fund VIII, with the deal highlighting tightening of spreads in upper mezzanine tranches

Global CLO league tables - April 2021 YTD
Global CLO league tables - April 2021 YTD

Record-breaking Apollo and Blackstone European CLOs make first distributions
Two 2020 CLOs managed by Blackstone Credit and Redding Ridge (Apollo) that set equity cover records in the secondary CLO market earlier this year have made their first payments

Mezz narrows as CVC prices tightest Euro CLO since February
CVC Credit Partners has priced its latest European CLO with the tightest funding costs since mid-February

Global CLO trading lab: secondary volumes inflate and easily get absorbed
Weekly secondary CLO volume has been lower across the capital structure in recent weeks as 2021’s refinancing wave left investors with plenty of choice

Beneath the triple C: CLOs benefit as upgrades make for lighter triple C buckets
For the first time since the sell off in March last year, downgrades to triple C have come to a near-standstill

CVC cuts cost of debt by 17.5bp with Euro CLO partial refi
CVC has teamed up with Jefferies to partially refinance its 2018 vintage European CLO, CVC Cordatus Loan Fund XII, cutting its cost of debt by 17.5 basis points

European CLO leverage hits double-figures
European CLO leverage has increased this year, from an average of 9.4 debt-to-equity in 2020 to 10.3 times in 2021, according to Creditflux data.

Barclays pulls levers as CVC resets and GoldenTree CLO surpasses Spire leverage
Barclays added to its arranging volume on Friday as GoldenTree Asset Management priced the market's highest levered European CLO

Alcentra, BlackRock and CVC refi €1.5 billion of European CLO paper
Deutsche Bank arranged the transactions for BlackRock and CVC while Morgan Stanley arranged partial refinancings for three of Alcentra’s deals

Euro CLO single As and triple Bs could tighten by 10bp with CVC refi
CVC Credit Partners is looking to refinance the five most senior tranches of its 2018 European CLO, CVC Cordatus Loan Fund VII. Price talk on mezzanine tranches suggests a big shift in prevailing spreads  

Global CLO b-wic round-up: 2020 deals trade at premium
As the primary CLO market continues to grind tighter, the secondary market is holding steady, but last year's vintages are trading well as they near the end of their call-locks

Basis between resets and new issues collapses as CVC prints Euro triple As at 83bp
CVC has reset and upsized a 2014 vintage European CLO, CVC Cordatus Loan Fund IV

Global CLO b-wic round-up: US lower mezz trades strong, but European piece softens
CLO investors have had no chance to catch their breath after a historic 2020 as US CLO secondary volume reached $3.3 billion and European secondary listings topped €1 billion in January

Euro CLO league tables: Barclays heads close race for new issues
Bridgepoint became the fifth European debut manager in 2020 when it teamed up with Barclays to price Bridgepoint CLO I on 13 November. The €301.85 million deal featured triple A notes at 121bp over Euribor, 11bp wide of market tights

European CLOs rise in secondary with Sound Point deal up 4.25 cents from issuance
Double-B rated CLO tranches received bids in the high 90s on Wednesday with Sound Point Capital Management’s debut European CLO attracting the highest cover of 98.25 cents on the euro. But the CLO rally is lagging moves in corporate credit  

European triple As tighten to 106bp with CVC benchmark CLO
CVC Credit Partners priced its latest European CLO on Friday, securing the tightest triple A print since the March sell off

CLO pipeline: LCM switches arranger to complete deal and join issuance surge
Over $3.5 billion of global CLO issuance priced last week and managers in all three CLO markets are taking advantage of tightening spreads across the capital structure after three major covid-19 vaccine breakthroughs and increased confidence since the US presidential election

CVC markets four-year Euro CLO from post-covid warehouse
CVC Credit Partners is marketing a European CLO with a four-year reinvestment period, having originated the deal from a warehouse it opened in October

CVC sets new triple A benchmark for Euro CLOs at 110bp
Triple A spreads continue to grind tighter with CVC pricing notes on CVC Cordatus Loan Fund XVIII today with a Euribor plus 110 basis points discount margin