Fair Oaks returns to European CLO primary with tight new issue
The European manager priced its first deal in over 12 months with relatively tight pricing throughout the stack

Fair Oaks adds US dollar-hedged share class to Euro CLO ETF
Trading began on Monday, with a denomination size of USD 10

European CLO market sees burst of ETF launches to start new year
CLO ETFs are gaining traction in Europe, with growing institutional and retail investor demand 

Fair Oaks wins approval to launch industry’s first European CLO ETF
Fair Oaks Capital has received approval from Luxembourg-based regulator CSSF to launch the industry’s first European CLO ETF 

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

Loan managers must act to prevent CSA leakage, say CLO investors
CLO investors have made clear that managers need to stay on top of US loan amendments that are switching benchmark from Libor to Sofr

European CLOs emerge as gilt-y pleasure for US investors amid record b-wic volume
European CLO b-wics have flooded the market this week with sources indicating elevated supply on Wednesday and Thursday resulted in some of the busiest days on record. Officials at Bank of America say their weekly trading volume approached €1 billion  

Fair Oaks adds to credit, CLO and marketing team in London
Fair Oaks Capital has hired three people to its investment team and two to its marketing team

Fair Oaks achieves tight cost of debt on new European CLO
The manager has brought a €404.4 million, 13.4 times levered deal that features environmental, social and governance criteria

CLO pricing holds up against omicron as liquid credit takes a hammering
Being illiquid sometimes has its advantages, with the CLO market the picture of serenity as CDS swings imply volatility is afoot

CLO managers join forces as they line up behind SFDR
A plethora of European CLO managers have teamed up with regulatory reporting provider FinDox to form a working group focused on Sustainable Financial Disclosure Regulation (SFDR), sources tell Creditflux.

Euro 2020 CLO resets reach €8 billion as Blackstone and Fair Oaks price at similar levels
Blackstone and Fair Oaks Capital took to the European CLO reset market this afternoon with both managers reworking 2020 deals

CLOs at a glance (June 2021)
A listing of CLOs that have priced in the last month

Fair Oaks saves nearly 100bp on 2020 reset as single Bs edge tighter
Fair Oaks has reset a 2020 European CLO with tight single Bs but triple As leaking wider

CLO pipeline: Five out, five in as market digests new issuance wave
Five new issue US CLOs priced from last week’s pipeline, but five more have replaced them in this week's edition of our pipeline report

Fair Oaks, PineBridge and Sculptor rework €1 billion in Euro CLO resets
Fair Oaks Capital, PineBridge Investments and Sculptor Capital Management all took to the European CLO reset market on Wednesday, in transactions that amounted to over €1 billion

CLO pipeline: expensive 2019 CLOs in vogue with 32bp savings potential
The CLO pipeline is dominated by refinancings and resets, with new issuance taking a backseat

Axa IM leads as ESG grows in European CLO industry
European CLOs are increasingly launching with express ESG mandates embedded as issuers seek to get ahead of what appears to be an inevitable shift towards ethical investing

B-wic appearances boost CLO equity valuations
CLO investors who use third party valuations say that CLO equity may be undervalued

Faith in structures has been rewarded
CLOs have been resilient against covid-19 fallout, said speakers at Creditflux’s CLO Symposium last month. But there’s always room to improve and 3.0 deals may add ESG and bullet tranches

European CLO leverage battered

CLO-friendly workout language crosses Atlantic to Europe
European CLO managers are including workout language in new issue deal documentation that gives greater ability to participate in restructurings, according to market sources

Fair Oaks sprints its way to second European CLO in four months
Fair Oaks Capital has priced its third European CLO transaction and second in four months, according to market sources, with the London-based manager opting for a print-and-sprint route for this deal.

Fair Oaks rotates to Euro CLO equity after 32% gain on double Bs
Fair Oaks Capital is starting to rotate back to CLO equity positions after taking advantage of the stabilising market and using profits from its higher-quality, more opportunistic trades earlier this year to carefully dial up the risk

CLO pipeline: managers large, small and new ready to price in post-Labour Day surge
US managers are preparing a wave of new issue CLOs in the coming days, as the usual post-Labour Day pricing surge comes to fruition even in this most unusual of years