CLO 2023 Outlook: CLOs look set to rise to the challenge of a tough 2023
CLO researchers had an (understandable) inability to accurately predict the staggering array of macro shocks that affected the CLO market this year. So it comes as a surprise that overall CLO issuance reached a lot closer to anticipated levels than many would have expected back in Q2

US CLO investors express cautious optimism for 2023
After a turbulent year in 2022, US CLO investors are sounding a cautiously bullish tone heading into 2023

Canyon scores 225bp triple A print on latest CLO
Canyon Partners priced a new CLO on Thursday with the triple A notes printing at 225 basis points over Sofr

US CLO tranches had best month of year in November: Barclays
CLO debt investors enjoyed their best month of returns for 2022 in November, with triple As returning an annualised excess return of 12% and triple Bs returning 37% on the month

Sound Point prints its first new CLO in 11 months
Sound Point Capital Management returned to the CLO primary market on Monday to print its first new CLO in 11 months

Euro CLOs have better 2023 entry point than US in $140 billion issuance year: Barclays
CLO performance and issuance may have to wait until the second half of next year for improvement, say Barclays credit strategists in a 2023 outlook piece. But Europe could fare better than the US given starting levels in a year the market faces some challenging regulatory hurdles

CSAM and CVC take different paths to benchmark 220bp US CLO triple A print
Credit Suisse Asset Management and CVC Credit Partners each came out with a new CLO on Tuesday with senior triple A notes yielding 220 basis points over Sofr, proving the benchmark triple A print for tier one CLO managers is unchanged since October

Bridgepoint set to become 43rd European CLO issuer in 2022
Bridgepoint Credit Management is poised to end a one-year absence from new issue European CLOs with a forthcoming deal expected to price next week

Axa IM claims "more than 15 investors" in new European CLO
Axa Investment Managers says that “more than 15” investors allocated to its static European CLO, Adagio X, which closed on Friday

US CLO pipeline: PPM returns to playing field after 14-month absence
Five fresh deals have made their way on to the pipeline this week, including PPM Loan Management company preparing to end its 14-month drought

Palmer Square includes senior/junior triple As and delayed draw double Bs in Euro CLO
Barclays arranged the €400.8 million deal, which features a one-year reinvestment period 

Neuberger Berman prints US CLO with senior triple As hitting 220bp benchmark
Neuberger Berman priced a new CLO on Thursday with the deal's triple A notes placing at the current benchmark yield of 220 basis points over Sofr

CLO triple As face contest with "appealing" US treasuries: Barclays
The challenge of issuing new CLOs has been put into sharper relief, with Barclays strategists arguing US treasuries look attractive versus triple A tranches

CVC and PGIM add to European CLO new issue surge
CVC and PGIM joined Ares, Neuberger and Oaktree in pricing new issues last week

US CLO issuance to drop 15% in 2023: Barclays
US CLO new issuance is likely to be around $117 billion in 2023, a decline of around 15% on 2022

AGL teams up with two arrangers on new US CLO
AGL Credit Management has worked with two arranging banks on its new $387.65 million CLO named AGL CLO 23

CLOs underperform recovery as central bank tone shifts: Barclays
CLOs have lagged the recovery in risk assets over the last week and remain at near year-to-date wides, according to research from Barclays. Strategists add CLO triple Bs look cheap versus high yield corporate bonds

CVC markets another Euro CLO following Nochu-withdrawal
CVC Credit is wasting no time in getting back to the Euro CLO arena and marketing a full five-year reinvestment European CLO, CVC Cordatus Loan Fund XXVI. The firm had originally had originally lined up CVC Cordatus Loan Fund XXV via Citi to print first, but lost triple A anchor investor Norinchukin earlier this month

Sofr away from me – basis puts new CLO triple As in dire straits
A relative value gap has opened between secondary and primary market CLO triple A tranches, with the former looking attractive as volatility heightens and the basis grows between Libor and Sofr. This presents an additional problem for managers hoping to do new business

European CLO primary re-awakens to tune of Adagio X
Axa Investment Managers priced a European CLO on Friday (a few days before anticipated), printing a €324.75 million static deal via Barclays

CIFC's seventh new US CLO of year takes tally to $3.3 billion
CIFC Asset Management priced its seventh US CLO of the year on Friday, bringing its yearly issuance volumes to $3.3 billion and climbing to fifth on the manager leaderboard

Axa IM chooses static format for upcoming European CLO
Axa Investment Managers is marketing a static European CLO new issue named Adagio CLO X

Five Arrows and Cross Ocean print Euro CLOs with triple As at 200bp
Five Arrows Managers and Cross Ocean both priced European CLO triple As at 200 basis points over Euribor - one has a 4.5-year and the other a one-year reinvestment period 

Trimaran comes at wider end with first CLO of year
Trimaran Advisors on Tuesday priced its first CLO of 2022

Four Euro CLOs emerge with target pricings as early as tomorrow
According to the latest marketing blasts, WhiteStar is targeting pricing tomorrow, Palmer Square and Cross Ocean are aiming for ‘as early as’ tomorrow and Five Arrows will aim for early-to-mid next week