CLO pipeline: 2020 absentees join new issue rush
The CLO pipeline is growing by the minute as managers prepare their first new issues of the year after varying lengths out of the market

US CLO PM leaves asset manager after 20 years
A managing director and CLO portfolio manager has departed the firm following a 20-year tenure

Sun Life Financial buys 51% stake in Crescent
Sun Life Financial has bought a 51% stake in credit manager Crescent Capital Group as part of its push into alternative credit

RBC arranges two US CLO tranche refis
Barings and PineBridge each priced their first US CLO transactions of 2020 after refinancing fixed rate tranches from 2018 vintage deals, according to market sources

Sun Life Financial in talks to buy Crescent Capital - report
Canadian insurer Sun Life Financial is said to be in talks to buy credit manager Crescent Capital, according to a report by Bloomberg

CLO pipeline: AGL aims high as it prepares fifth new issue of 2020
US CLO managers are sensing opportunities in the CLO market either via new issue CLOs or by refinancing the fixed-rate tranches in their legacy deals

OC health check: breaches start to take toll on July payment dates
37 CLOs reported an over-collateralisation test failure last week, but this was a falling percentage of those publishing trustee reports and none were fresh breaches

OC health check: US CLOs hit by new round of test failures
135 deals breached an over-collateralisation test last week, 78 for the first time, according to the latest trustee reports from CLO-i.

S&P adds to CLO negative watch list as loan downgrades pick up
Standard & Poor’s has added to the list of tranches in CLOs it has on negative watch as coronavirus concerns mount. This follows the rating agency last week highlighting 22 tranches across 15 US CLOs for having big exposure to downgraded corporate borrowers across impacted industry sectors

Crescent swoops into mid market CLOs with 'reverse-sequential' ramp-up strategy
Crescent Capital Group is launching its debut CLO backed by middle market loans and has opted to use an unusual ramp-up tactic

Crescent and Barclays price second consecutive new issue CLO
Crescent Capital teamed up with Barclays for the two firms’ second consecutive CLO new issue as partnership

Repo market bumps heads with credit to suffer SOFR doubts
The reliability of the Secured Overnight Financing Rate (SOFR) was called into question last month when it spiked to a level more than double its usual value. 

Spectre of low loan recoveries fails to spook CLO market
CLO managers and equity investors are optimistic despite recent reports which suggest that future US loan recovery rates will be lower than during the financial crisis. 

Fresh ideas blow in from the west
As Creditflux hosted its first conference in California, the hub of US innovation, it was no surprise that new ideas such as applicable margin resets and high triple-C buckets were on the agenda

Controlling equity stake in 2018 CLO fails to trade in secondary market
Over 90% of an equity tranche from a 2018 Sound Point Capital Management CLO was available on b-wic yesterday but failed to trade  

DFG hires experienced credit analyst in New York
DFG Investment Advisers has drafted in John Hwang as director and senior credit analyst on its leveraged credit team in New York

Crescent prices second new issue CLO of 2019
Crescent Capital Group priced its second new CLO of the year yesterday named Atlas Senior Loan Fund XIV

Crescent looks to meet fixed note appetite with new CLO via Jefferies
Crescent Capital Group priced its first CLO of the year via Jefferies today named Atlas Senior Loan Fund XIII

Crescent prices third new issue CLO of 2018 with Jefferies
Crescent Capital Group has teamed up with Jefferies for the third time in a row to launch a new issue CLO

Crescent reaches record annual volumes with third new CLO of 2018
Crescent Capital has priced its third new issue CLO of the year, making 2018 its biggest year by volume on record

CLO b-wic line-up: price talk circulates on CVC CLO control block
The control equity position in CVC Credit Partners’ 28 days-old reset, CVC Cordatus Loan Fund VI, is available in the secondary market today

B-wic round-up: secondary CLO market is looking more and more like new issue
2017 and 2018 CLOs flooded the secondary market last week, with bonds referencing Ares Management, LCM Asset Management and Napier Park Global Capital going on sale

Control equity position in 2018 CLO goes on the auction block
A 52.88% control equity position in a CLO that closed in February appears on b-wic for sale tomorrow

BNP Paribas bolsters its CLO origination team in New York
A CLO specialist has left the buy side in order to join BNP Paribas' credit structuring group in New York

Crescent prices $427.83 million short-term CLO reset
The manager priced its fifth transaction in the US CLO market this year yesterday