CLOs at a glance – May 2025
Our list of recent CLO pricings globally

Tariffs kill off year-long CLO boom
The global impact on CLOs of President Trump’s tariffs was plain as volatility increased and spreads blew out. But managers helped keep US issuance steady with print-and-sprint deals

CLOs at a glance – April 2025
Our list of recent CLO pricings globally

CLOs at a glance – March 2025
Our list of recent CLO pricings globally

Fortress and Polen print their first new CLOs of the year
Fortress and Polen Capital have priced their first BSL offerings of the year, both via BofA  

Rockford Tower prices Euro and US resets on same day
King Street Capital Management affiliate Rockford Tower echoed KKR and Permira in pricing dual European and US CLOs at the end of last week

Apollo and Mubadala extend capital solutions originations partnership
Apollo and Mubadala Investment Company have extended a private debt partnership established in 2022 that focuses on finding larger deals that require bespoke capital solutions

Polus debuts as US CLO manager with first deal pricing
Polus Capital Management has become the first debut US BSL CLO manager of the year after pricing Polus US CLO I 

Greensledge arranges new private credit CFO
Churchill Asset Management, an investment-specialist affiliate of Nuveen, announced on Monday it had closed its second collateralised fund obligation, or CFO

CLOs at a glance
Recent CLO pricings

CLOs at a glance
A round-up of recently priced CLOs

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

Points up front: Shhh, don’t tell! Secret CLO pricing is in progress
The CLO industry has come a long way in the last decade — so much so that managers can now boast of their track records and CLOs are no longer (wrongly) touted as the acronym that caused the 2008 financial crisis. But in recent weeks some CLO market participants seem to have gone back to a time when pricing a CLO was taboo

CLOs at a glance (November 2022)
A listing of CLOs that have priced in the last month

Private equity firms are becoming CLO converts: TwentyFour
Private equity firms have increasingly bought CLO and other securitised debt tranches in recent weeks instead of their usual preference for physical assets - a trade TwentyFour believes "makes perfect sense"

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

CLOs at a glance (October 2022)
A listing of CLOs that have priced in the last month  

US loan index falls below 92 to almost wipe out gains since July
The S&P/LSTA Leveraged Loan Index sank to an average bid of 91.92 cents by Monday, down by two points in as many weeks, wiping out almost all the gains seen in the late-summer market rally

European IG CLO mezz is attractive versus US paper: Barclays
There is no reason for European CLO mezzanine tranches to be as wide as they are versus equivalent US paper, according to a strategy note from Barclays.

Widening asset/liability gulf will hurt CLOs: Barclays
A mismatch between CLO asset / liability rate risk is increasing in the US as more leveraged loan issuers opt for one-month pay frequency, Barclays credit strategists have found

CLOs at a glance (August 2022)
A listing of CLOs that have priced in the last month

Euro risk retention becomes must-have feature for US CLOs
For the past four years, risk retention-compliant US CLOs have been viewed as a luxury. But today issuers see a clear advantage to putting skin in the game

Euro loans with FX hedging offer better value than US: Barclays
The big underperformance of European loans in June has left them looking cheap versus those in the US – but FX hedging and a nuanced selection process are advisable for investors looking to take advantage of that

Can someone call the triple A? We’ve stalled
CLO issuers are in need of AAA roadside assistance. Despite the emergence of new buyers, a lack of senior CLO investors — particularly US banks — has brought the primary market to a halt