Global CLO league tables - July 2020 YTD
Global CLO league tables - July 2020 YTD

Five Arrows prices same-day CLOs in US and Europe for first time
Five Arrows Managers broke new ground on Friday after pricing two CLOs on one day for the first time in its history

Angelo Gordon prices US CLO with make-whole on senior notes
Angelo Gordon has priced its first US CLO since the coronavirus outbreak, teaming up with Barclays to issue the $294.8 million Northwoods Capital CLO 22

Palmer Square becomes most prolific CLO issuer in 2020 and since March sell-off
Palmer Square Capital Management on Monday became the most prolific US CLO issuer following the coronavirus outbreak after pricing its third new issue since April

CBAM prices second European CLO with triple As at 159bp
CBAM priced its second European CLO on Friday evening via  Barclays

European CLO spreads tighten across stack as Oaktree prices new issue
Oaktree Capital Management broke European CLO market records yesterday by pricing the tightest new issue transaction amid the coronavirus pandemic

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

Five Arrows notches first new CLO of the year
Five Arrows Managers, the CLO management arm of Rothschild, has priced a short one-year CLO via Barclays

CBAM markets second European CLO just 21 days after debut
CBAM, who debuted in European CLO management just earlier this month, has become the first manager to market a second Eurpopean CLO post covid-19

CLO double A-single A basis falls to just 10bp in 2.0 record
The basis between US CLO double As and single As has fallen to just 10 basis points – which is the lowest it has been since the financial crisis in 2008, according to Creditflux data

CLO and distressed fund recovery disparity could grow, say Barclays
CLO investors should apply a haircut to the $55-60 loan recovery range to better estimate recoveries in CLO models, as the disparity between how distressed debt funds and CLOs extract value in a loan restructuring is expected to widen

Former Barclays global CLO distribution head joins Nearwater
Barclays’ former head of global CLO distribution has landed at a risk retention financing firm as senior managing director in New York

US CLO league tables: light at the end of the tunnel as primary revives
May brought a rise in US CLO primary market activity with a combined $5.55 billion in new issuance for the month

US CLO spreads set to tighten across the stack as CIFC targets 170bp triple A print
CIFC Asset Management is marketing its first new issue CLO of 2020 with price talk for the triple A notes pointing to a print of around 170 basis points - a new market tight since the coronavirus pandemic began

Oaktree gets off the mark with one-year reinvestment CLO
Oaktree Capital Management has priced its first US CLO of 2020, partnering with Barclays to produce a one-year reinvestment deal. The CLO has priced wide of where some three-year deals were being marketed, with Oaktree CLO 2020-1 printing its senior notes at 200 basis points

Static US CLO advocate prices one-year reinvestment deal
Palmer Square Capital Management on Friday priced a $437.9 million CLO named Palmer Square CLO 2020-1, according to market sources

Ellington European CLO still on table despite scrapped warehouse rating
DBRS Morningstar has discontinued ratings on the warehouse line backing the launch of Ellington Management’s debut European CLO, but sources say the CLO is still going ahead

AGL prices novel CLO with ability to reinvest would-be equity distributions
AGL Credit Management has become the fourth manager to issue a new CLO following the coronavirus-triggered sell-off

Four managers eye breakthrough new issue European CLOs
The European primary CLO market is showing signs of revival with four managers eyeing deals

Unique CLO upsizes to $22 billion
The world’s largest CLO has more than doubled in size to total a whopping $22 billion

Palmer Square becomes third manager to tout special static sell-off CLO
Palmer Square Capital Management is the latest manager to unveil a forthcoming static CLO to make good from the loan market's sell-off following the coronavirus outbreak

CIFC pushes European CLO spreads to new tights
CIFC Asset Management’s second CLO in the European market, CIFC European Funding CLO II, has set a new benchmark for the year as triple A spreads move tighter to 90bp with a cost of debt of 165.6bp.

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

Davidson Kempner hires ex-Barclays convertibles research head
DavidsonKempner, the investment management firm, has hired the former head of European and Asian convertibles research at Barclays to manage convertible bonds in its London office

CVC resets 2016 US CLO
CVC Credit Partners joined Credit Suisse Management in resetting a 2016 vintage US CLO via Barclays on Friday