Junior triple A-double A basis narrows as CIFC prices third post-covid CLO
CIFC Asset Management on Friday became just the ninth CLO manager to issue three new US CLOs post-covid after teaming with Citi on the $498.3 million deal named CIFC Funding 2020-III

Neuberger Berman prints third largest and second tightest post-covid CLO
Neuberger Berman has priced its third new issue CLO of 2020, according to market sources

BlackRock prices tightest post-covid CLO by far
BlackRock has priced a new issue CLO named Magnetite XXVIII via Barclays, scoring by far the tightest post-covid debt execution

Five Arrows prices third US CLO of 2020 for new personal best
Five Arrows Managers has built on its US CLO issuance boom with its third new issue of 2020

New Mountain markets debut CLO via Wells Fargo
New Mountain Capital is set to become the first manager to issue its debut CLO post-covid, with the firm marketing an inaugural deal via Wells Fargo

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

Allstate prices tightest new CLO post-covid
Allstate Investment Management Company has priced the tightest new issue US CLO since the covid-19 led sell off. The manager teamed up with JP Morgan to price the $448.55 million AIMCO 11, which has weighted funding costs of 183.9 basis points

CLO triple As tighten to 138bp as Bain prices new issue
Bain Capital Credit has priced its third new CLO of 2020 with a record-breaking 138 basis points triple A spread

Barings brings CLO market tighter with first new issue of 2020
Barings has priced its first regular way new CLO of 2020, and pulled the market a little tighter in the process. The manager teamed up with JP Morgan to print the $350.05 million deal, named Barings CLO 2020-1

Three CLO managers join rush to refi or reprice fixed rate CLO tranches
Three CLO managers - American Money Management Corporation, Teachers Advisors, and ArrowMark Colorado Holdings - have jumped on the fixed rate CLO refinancing or repricing trend

Octagon scores one of CLO market's biggest coupon cuts with repricing
Octagon Credit Investors has joined the trend of managers looking to reprice CLO tranches. The manager teamed up with Bank of America to reprice the fixed rate debt of Octagon Investment Partners 27 in a $22.5 million transaction

KKR prices its first new US CLO since January
KKR has priced its first new issue US CLO post-covid, after teaming with Credit Suisse to issue the $450.75 millon deal named KKR CLO 30

Dach mid-market lending is 'back to business', GCA Altium survey reveals
Mid-market lenders in the German-speaking region appear to be back to business, with around 90% of banks and debt funds open to evaluate new financing opportunities, according to a September survey by GCA Altium

Anchorage prices first five-year CLO structure since March
Five-year CLO structures have returned for the first time since the coronavirus outbreak, thanks to a bond flex deal issued by Anchorage Capital Group

10-day US CLO warehouses open up as managers split transactions
A report by Maples Group finds there have been several opportunistic US CLO warehouses that have launched since mid-June with durations as short as 10 days

BlackRock plans first European CLO of 2020
Barclays has begun marketing its second European CLO in September with the bank arranging a deal for a large asset manager

Black Diamond prices first CLO primary deal for over 12 months with refi
Black Diamond Capital Management has joined the fixed-rate CLO refinancing surge by teaming up with Goldman Sachs to refinance two tranches of Black Diamond 2016-1

Lenders aren’t as adventurous, but they realise if they don’t act now, 2020 will be a lost year
 

Bankers, private equity firms and corporate lenders are all looking for new ways of doing business

The length of a CLO’s reinvestment period has no substantive effect on its resilience to defaults
Three-year reinvestment CLOs are the norm, but debt investors should be locking in historically wide spreads for longer

It’s been a while — how’s tricks?

Fair Oaks markets third European CLO
Fair Oaks Capital is marketing a third European CLO, Fair Oaks Loan Funding III, just five months after pricing its second deal

US CLO league tables: AGL grabs new issue lead
AGL Credit Management has added to an impressive run of CLO deal-making, pricing its fifth US new issue of 2020

Euro CLO league tables: Deer Park takes GSO to top and gets Deutsche off the mark
For the second time in as many months a new name sits at the top of the European rankings as GSO Capital Partners takes the throne

Global CLO league tables - August 2020 YTD
Global CLO league tables - August 2020 YTD

Ticked off: European loan docs turn aggressive
Documentation for European loans tightened in the immediate aftermath of the March sell-off, with lender-friendly terms around additional debt baskets, dividend levels and acquisition thresholds. But aggressive terms are creeping back into the market