Triple A delayed-draw structure helps European CLOs beat negative carry
The first quarter of this year saw a trio of unusual deals in the European market: new issues that include delayed-draw options on triple A coupons. It is the first time this facility has been seen on CLO triple A notes.

Neuberger Berman keeps it tight for new European CLO
The European market saw another deal print at this year’s record tight of 147bps yesterday, when Neuberger Berman priced its first Euro deal of 2024

Sculptor launches CLO captive equity platform
Sculptor Capital Management launched its new CLO captive equity platform today, anchored by a commitment from Rithm Capital

Billion-dollar Adams Street CLO is private deal for single investor
New details have emerged of the unusual billion-dollar middle market “CLO” that Adams Street Partners closed last week

European resets return as Carlyle reworks 2022 vintage deal
This week’s latest European CLO reset from Carlyle Group maintained the market’s trend so far this year for sub-150bps pricing levels

Canyon returns in a big way for second European CLO
Thirteen months after its European debut, Canyon Partners priced its upsized second European deal yesterday

Deutsche Bank upgrades European new issue forecast
Deutsche Bank has upgraded its European new CLO issuance forecast for 2024 to a total of EUR 37bn

Napier Park resets 2017 vintage
Napier Park Global reset its Regatta IX Funding yesterday according to market sources, adding four tranches and a fixed-rate coupon

Another European CLO single B gets drawn by Blackstone
Blackstone priced its second delayed draw issue in three weeks via BNP Paribas, this week targeting Glenbrook Park CLO 

The Last Tranche with JP Morgan's Ferris: new managers should focus on equity
In this episode of our podcast The Last Tranche, Christine Ferris, JP Morgan's Global Head of CLO Primary talks about why she loves working with debut managers, despite the extra challenges they face

Bridgepoint hits the mark with sixth European CLO
As new figures showed the European CLO market enjoyed its strongest first quarter since 2007, Bridgepoint Capital became the first manager to price a European CLO after Easter

CLO round-up: March 2024
March was another busy month for the CLO market, with eighty deals pricing. That total includes ten new European deals as that side of the market finally kicked into gear.

Nassau joins delayed draw issuance wave
The latest manager to draw down a delayed draw tranche in the run-up to Easter was Nassau Corporate Credit, the ninth such draw-down so far this year

Blackstone chooses static structure for new European CLO
Blackstone’s sixth CLO deal of the year priced yesterday in the market’s third static European deal of 2024

Europe sees another delayed-draw AAA as Onex prices
Onex Credit Partners became the third manager to bring to market a deal with a triple-A tranche in a delayed-draw format, when it priced OCP Euro CLO 2024-9 yesterday

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

Permira prices tenth European Providus CLO
Permira Credit threw their hat into the increasingly crowded European ring with their first deal of 2024

Carlyle joins European rush with new CLO
Carlyle returned to the European CLO market for the first time in 18 months with Carlyle Euro CLO 2024-1

KKR leads flood of European CLOs
The first European print of 2024 for KKR, arranged by JP Morgan, came on a busy day for Euro CLOs

Sculptor returns to European CLO market after two year gap
Sculptor priced its fourth deal of the year on Wednesday, and its first European CLO in over two years

Arini is already back as second CLO prices
Continuing its rapid advance in the European market, Arini Capital priced its second CLO last week

Blackstone CLO gets bushier as delayed draw tranche issues
Blackstone added its contribution to 2024’s accelerating run of delayed draw single-B issues yesterday, as it priced a drawn-down class-F tranche

Palmer Square prices delayed draw for 2023 CLO
The latest in a sequence of delayed-draw European issues hit the primary market on Friday, when Palmer Square priced the F-class notes of a 2023 CLO

CVC leaves triple As unchanged in rare refi
Goldman Sachs arranged a second European deal of 2024 for CVC Credit Partners last week, with a refi that left the triple As unchanged

European CLO reset matches market tights
The triple-A spreads on a European reset matched the tightest seen in European new-issue this year with the restructuring of a 2022-vintage transaction yesterday