European new issues re-start as HPS prices EUR 407m CLO
The deal – the first new European deal in almost four weeks – priced its triple As at Euribor plus 140bps

Tikehau slashes funding cost on latest Euro reset
Tikehau Capital reset a late-2022-vintage Euro CLO achieving a dramatically lower cost of debt on Friday, as managers rushed to price deals before the holiday season

Blackstone prints new-issue European CLO
Blackstone has priced Waterstown Park CLO, its sixth new European issue of 2024, in a EUR 405.3m transaction  

PGIM prices wide of mezz guidance in return to European primary issuance
The US manager’s first European deal in two years followed the recent trend and showed some weakness in the mezz compared to initial price talk

ICG returns to the European CLO market
Intermediate Capital Group’s first primary market deal this year took the form of a new issue European transaction

New European CLO sees triple-As at 141bps
Bain Capital yesterday kick-started new European issuance with a EUR 404m transaction that matched the tightest triple-A print this year

New European CLO priced by Investcorp
Investcorp paired up with Deutsche Bank to price one last European deal before the start of this year’s Global ABS Conference

European CLO issuance spree continues with new Trinitas deal
Trinitas wrapped up the week by pricing its sixth CLO of the year and its second deal in Europe

Fair Oaks makes punchy return to European CLO primary
Fair Oaks Capital returned to the primary market for the first time in two years, getting tight pricing on its Fair Oaks Loan Funding V

Blackstone's new Euro CLO volumes pass €1 billion for 2022
Blackstone Credit's new European CLO volumes for 2022 passed €1 billion on Friday after it priced its third new issue named Edmondstown Park CLO

Europe welcomes four new CLOs in a day after nothing for one month
No issuance to speak of in a month, and then four CLOs come along at once 

Fidelity becomes latest manager to price Euro CLO with delayed draw single B
Fidelity International has become the latest European CLO manager to issue a delayed draw single B tranche as part of its new issue

Telco bucks market sell of with network merger boost
It is an off day for most borrowers in the European credit market, but one telco has bucked the trend with a sharp move tighter after unveiling network integration plans

Top macro credit PM will fly solo with fund launch
A new credit investment firm could soon be in the offing, following the departure of Alberto Gallo from Algebris Investments in April, suggest market sources

Hidden loan tail risks and mounting single B exposure could pose problem for CLOs: Barclays
A solid rally for leveraged loans this week - against returning weakness in bonds - has put focus back on the market, which seemingly has little tail risk priced in. But short term support factors and a dwindling triple C bucket mask the quality skew, warn Barclays strategists in a note today - which could spell downgrades for single-B minus rated loans

Euro CLO triple As show signs of succumbing to macro volatility as €1 billion paper prints
Over €1 billion worth of European CLO paper priced on Wednesday with two new issues from KKR and Spire, alongside a reset from ICG

Cairn CLO becomes 30th 2020 Euro CLO to be reset
Bank of America arranged the €373 million transaction for Cairn, which cuts the CLO’s cost of debt by over 40 basis points 

Northleaf closes global private credit fund with $1.2 billion deployable capital
Northleaf Capital Partners has raised more than $900 million for its second private credit strategy, Northleaf Private Credit II 

Global CLO pricing lab: investors get over fatigue and embrace reset roll over
The demand for CLOs is showing no signs of slowing down after the market had experienced some fatigue at the end of the first quarter and into the second. In the last two weeks, there have been 47 CLO transactions across all forms of pricing in the three markets; led by 18 US CLO new issues

Global CLO b-wic round-up: junior tranches trade above par as US volumes reach $45bn
A busy week of over $1.4 billion of US CLO secondary bonds and €290 million of European CLO paper gave light to CLO spreads across the capital structure continuing their push towards pre-covid levels

Europcar posed as failure to pay credit event
Europcar Mobility Group has been proposed to the Emea Determinations Committee as a failure to pay credit event, following the French vehicle hire firm's announcement of a financial restructuring

Europcar bonds hit full throttle on restructuring agreement
Europcar bonds are among the best performing in a flattish market today, after the French vehicle hire firm obtained an agreement with its main creditors on a financial restructuring

Global CLO b-wic round-up: Junior tranches rally amid heavy supply, including portfolio liquidation
The US CLO secondary market rally is showing no signs of slowing down after a week of over $1 billion worth of bonds was listed and well absorbed, according to market sources. The European market also had a roust week with over €300 million of paper up for grabs, although the market stayed generally flat with some tightening in double and single Bs

Global CLO b-wic round-up: Secondary markets rally despite ‘worst liquidity seen all year’
An adjournment in the US for Veterans Day last week still left plenty of time for the CLO secondary market to rally, thanks to Pfizer's covid-19 vaccine breakthrough and a firmer indication of the US presidential election results

Global b-wic round-up: Europe drifts wider
The CLO secondary market had a robust week with $860 million of US CLO paper and €315 million worth of European CLO bonds listed. But spreads widened off the back of concerns over lockdowns across the globe, the increased risk of downgrades and tomorrow’s US presidential election