Rising stars will fuel double B boom, says BofA
A rising star cycle is underway and adds to a bullish outlook for double B credits with company results pointing to an ‘epic V-shaped recovery’ in high yield revenues and earnings, say Bank of America credit strategists

CLO pipeline: Birch Grove and Fort Washington dish out first 2021 deals as Carlyle goes for sevenths
CLO investors can feast on a range of deals in the new issue market over the next month. 

Triple Bs gain momentum as IG buyers pick best spots
The absolute tightness of credit spreads has led many to lament their chances of delivering strong returns in 2021, while stressing the need to move down either the quality or duration curve. But even within investment grade, European and US managers are still finding pockets of value

Barings becomes latest to include sustainable disclosure language in new Euro CLO
Barings has printed its second European CLO of the year, with deal the latest to include ESG-focused language relating to the Sustainable Finance Disclosure Regulation’s 'principle adverse impact' effects

CIP plugs ABS team gap with senior portfolio manager hire in London
CIP Asset Management has filled a gap on its European structured credit team

Euro resets close triple A basis with US CLOs
The basis between European and US CLO triple As is narrowing

Publishing boost for French firm but China sours wider market
Lagardere is a notable positive outlier in another off day for the credit market, after China turmoil rocked stocks and sent spreads wider

Eurazeo closes €1.5 billion European direct lending fund and readies next one
Eurazeo has closed its fifth European direct lending fund, Idinvest Private Debt V, at €1.5 billion

Blackstone prints Euro CLO reset at wider end of guidance
Blackstone Credit has priced the reset of its European CLO Tymon Park via Goldman Sachs

Global CLO trading lab: Equity supply spikes as investors go long
CLO equity returned to the secondary market in a big way last week, after a month of very little visibility, with $118.3 million of US CLO and €44.9 million of European CLO subordinated notes on sale

China crackdown and Fed meeting rattle nerves
Credit spreads widened as financial markets began the week on a less certain footing amid panic stock selling in China and a retreat to treasuries ahead of the US Federal Reserve two-day monetary policy meeting

Tikehau retains 68% of investors for second €617 million special opps fund
Tikehau Capital has closed a second special opportunities fund at €617 million - and says 68% of commitments in Fund II were re-ups from investors in Tikehau’s inaugural special opportunities fund

Mizuho keeps big European CLO plans on track with senior hire after key CLO figure leaves
Mizuho has lost a key figure in its European CLO business, which it had sought to expand this year. However, it has been quick to fill the gap. 

Redding Ridge prints European CLO as triple As drift beyond 100bp
European new issue CLO triple As have passed the 100 basis points over Euribor mark with Redding Ridge Asset Management’s latest CLO pricing at 102bp

King Street raises $1.2 billion for first global credit drawdown fund
The fund will target distressed and stressed corporate debt, structured products, and asset-backed investments, as well as claims and claim-related opportunities

Mizuho European CLO sales hire unveiled
Mizuho has hired to its European securitisation sales team in London

CSAM takes Euro CLO 2021 volumes to over €2 billion
Credit Suisse Asset Management has taken its European CLO 2021 volumes to over €2 billion with its latest new issue, Madison Park Euro Funding XVII

Credit Suisse promotes London-based official to co-head of global CLOs
Credit Suisse has assigned a bigger role to a CLO and corporate asset finance official in London

UK pension allocates £2.1 billion to CQS, Neuberger and Oaktree
Three global credit managers have won a total of £2.1 billion in credit mandates from Brunel Pension Partnership, as part of its newly launched Multi Asset Credit Fund.

European CLO structurer to land at Credit Suisse
A European CLO structurer is moving to Credit Suisse from a rival bank, sources say

Mizuho says CLO sales hire is imminent as it adds to European loans team
Mizuho says that it will announce a CLO sales hire in the next few weeks

Chenavari pairs with Barclays for second Euro CLO reset in a month
-Barclays arranged the €373.75 million transaction yesterday, marking a second time partnership for the pair this month

NIBC scores tight execution on Euro CLO reset with triple As at 94bp
NIBC has scored tight execution on a reset of North Westerly V, with triple As pricing tighter than other recent new issue deals

It's all relative: IG index drifts wide of 50bp as European CLO triple Bs outperform
US investment grade credit has been an underperformer in the last few weeks with CDX IG trading north of 50 basis points again. But European CLO triple Bs are looking strong while there is a stronger bid for two- to three-year paper in the US