Palmer Square sets tight print with first new issue CLO of 2021
Palmer Square Capital Management has priced the first new CLO of 2021, teaming up with Citi to issue the $401.6 million static transaction named Palmer Square Loan Funding 2021-1

CLO pipeline: managers waste no time cracking open the new year
The US CLO primary market is itching to open shop in 2021 as four refinancings and two resets line up alongside seven managers marketing new deals

US CLO league tables: new issue rankings go to wire as post-pricing upsizes pop up
The new issue US CLO rankings are tightly contested with JP Morgan leading Citi by just $641 million with one month left of the year. Even in December's typically slower weeks this is a closeable gap 

Global CLO league tables - November 2020 YTD
Global CLO league tables - November 2020 YTD

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

LP round up: Monroe and Angelo Gordon beat 25 for direct lending mandate, as private credit plans brew
US public pension funds have disclosed $1.2 billion in commitments to credit focused strategies

Colorado pension allocates $70 million to CLO debt strategy
Colorado Fire & Police Pension Association approved a $70 million commitment to a CLO debt strategy at its 5 November board meeting

Global CLO league tables - October 2020 YTD
Global CLO league tables - October 2020 YTD

Single B notes return as Palmer Square prints third reinvesting US CLO of 2020
Palmer Square Capital Management priced its ninth new issue CLO of 2020 on Friday, teaming with JP Morgan on the $401.1 million Palmer Square CLO 2020-3

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

CLO pipeline: fixed income giants plan debut 2.0s with Morgan Stanley
Two large fixed income managers are pre-marketing debut 2.0 CLOs

European CLO leverage battered

CLO rally keeps primary market flowing for most prolific issuers
The rally in CLO liabilities in September has given fresh impetus to the primary CLO market, which has benefitted from almost six months of favourable market dynamics

Static US CLOs snap back to early March levels as Palmer Square prints
Palmer Square Capital Management priced its fourth static CLO of the year yesterday, with its triple A spread tightening to just 100 basis points over Libor. The print is another step for the CLO market toward pre-pandemic levels

This doesn’t look like Kansas anymore: Palmer Square opts for unusual road to Europe
Palmer Square Capital Management is taking a novel approach to European CLO management with the head portfolio manager for its deals being stationed at its headquarters in Kansas City

Global CLO league tables - August 2020 YTD
Global CLO league tables - August 2020 YTD

CLO managers turn out pre-covid warehouses by splitting them in half
CLO managers are working through their backlog of hung warehouses that were ramped before the coronavirus crash by splitting their deals in half, according to market sources

Global CLO b-wic round-up: Palmer Square sets highest cover as double B curve inverts
Palmer Square and MJX set the CLO secondary market trading range, but pickings in Europe were the slimmest they have been in almost five months

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

US CLO league tables: refis return as Apollo and Citi maintain leads
US CLO monthly issuance rose above $8 billion in July for the first time since the coronavirus pandemic wreaked havoc across the globe

CLO pipeline: Redding Ridge plans fourth US CLO since March
Last week proved to be one of the busiest weeks of the primary CLO market since the start of the coronavirus pandemic, with $5.21 billion worth of new paper issuance coming through: eight US CLOs, one middle market deal and three euro CLOs

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

Global CLO b-wic round-up: CLO lower mezz spreads tighten back after volatile two weeks
Secondary CLO spreads in the US and European markets have recovered after moving wider over the last two weeks

Global CLO b-wic round-up: spreads widen in short week to end manic June
A shortened week brought an end to a manic month of secondary CLO activity. $343.5 million of US CLO and €309 million of European CLO paper was on sale last week, dropping $1.05 billion and €170 million from the previous week

Palmer Square eyes talf-eligible CLO after Fed clarification
Palmer Square Capital Management is said to be exploring its options for issuing a term ABS loan facility (talf) eligible static CLO