Oaktree prices its first US new issue of the year
The USD 405.58m BSL-backed CLO comes a month after the manager’s first European new issue of 2025 

Maine, Louisiana, San Jose, Kern County pensions make new private credit investments, plot future moves
Public Pensions, Private Pursuits: Maine PERS to further increase exposure to TPG Angelo Gordon’s direct lending arm

Neuberger Berman latest reset reinforces triple-A spreads of 124 as new market tight
Neuberger Berman has priced a CLO reset via Mizuho that reinforces triple-A spreads of 124 as new US market tight  

US CLO resets price from Octagon, Trimaran, Sculptor and UBS
Four managers -- Octagon, Trimaran, Sculptor and UBS -- has priced end-of-year US BSL resets totalling USD 2bn  

First Eagle resets MM CLO with unusual capital structure
First Eagle has reset a CLO deal that maintains majority allocation toward single-A liabilities   

CVC resets Apidos CLO XVIII-R, slashes leverage
CVC Credit Partners has printed a reset of Apidos CLO XVIII-R that nearly doubles the equity in the US BSL deal.

Oak Hill resets OHA Credit Funding 4 for a second time
Oak Hill Advisors has reset a CLO called OHA Credit Funding 4. It’s the second reset for the US BSL CLO which last hit the market in 2021.

522 Funding CLO 2020-6 gets a refinancing and a new name
Morgan Stanley Eaton Vance has refinanced 522 Funding CLO 2020-6, a US BSL deal from 2020

Direct lending defaults decline for all except middle market according to Proskauer
Default rates for US direct loans declined to 1.95% in the third quarter of 2024 from 2.71% in the second quarter, according to a new report from law firm Proskauer

Northwestern Mutual makes it three for 2024 with latest new US issue
Northwestern Mutual prices its third new CLO this year with a USD 403.7m US BSL issue via Morgan Stanley   

Fund performance
August returns were largely positive for credit hedge funds, as 88% of those listed in the Creditflux database reached into the black

September 2024 US Leveraged Highlights
While new money activity in the loan market reached its highest point in the last 18 months in 3Q24, it remains significantly lower than historical averages

Benefit Street Partners resets 2016-vintage CLO
A reset of a 2016-vintage US BSL CLO from Benefit Street Partners has priced with a senior triple-A tranche at SOFR plus 137bps

Angelo Gordon refinances CLO that turned heads with step-up structure
Triple-A investors in the Northwoods Capital XII-B reissued step-up tranche had a great run, but have now be refinanced

Blackstone prints new US BSL CLO at 135bps
Blackstone priced a new US BSL USD 509.3m CLO with triple-As at 135bps over SOFR

Cerberus secures major tightening with mid-market refi
Middle market CLO specialist Cerberus priced its first refi deal of the year after three new-issue offerings

Private credit default rate rises sharply, according to new report
The second quarter of 2024 saw a further increase in the default rate for US middle market companies, according to legal firm Proskauer's latest report

Angelo Gordon adds fresh equity for 2018 CLO reset
Angelo Gordon’s latest reset of a 2018-vintage CLO saw a huge equity injection. The deal was originally a reissue of a 2014 deal.

Fund performance
CLO funds dominate again as they take 18 spots in top 30 list

Golub prints tightest new middle-market CLO of 2024
Golub Capital, working with RBC Capital Markets, has priced a new middle market CLO with the tightest senior and mezz spreads so far this year

AMMC refinances 2022 vintage CLO
American Money Management Corporation has refinanced a 2022 vintage CLO, knocking 20bps from the senior spread

Unusual Golub CLO sees huge upsize
Golub Capital concluded last week with the reset of an unusual static middle market deal – a US CLO with a rare euro-denominated tranche

2020 vintage MM CLO gets a reset
PennantPark has priced its third middle-market CLO offering of 2024, a reset of a 2020-vintage CLO that was the manager’s second transaction

Ares refinances 2019 vintage CLO
Ares CLO Management on Friday refinanced Ares LIV CLO, a 2019 vintage US BSL CLO

Octagon refis 2019 vintage CLO
Octagon Credit Investors has refinanced the top four tranches of Octagon Investment Partners 43, a half-billion dollar deal from 2019