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PGIM completes first multi-tranche floating-rate CLO refi since February
3 years ago
PGIM has hastened the return of pre-covid-style CLO refinancings by cutting the funding costs on multiple floating-rate debt tranches of its 2014-vintage CLO named Dryden 36 Senior Loan Fund -
Benefit Street prints three-year US CLO via Citi
3 years ago
Benefit Street Partners has teamed up with Citi to print a three-year reinvestment CLO -
Pre-covid style CLO refis set to return as PGIM plans four-tranche deal
3 years ago
PGIM is set to bring back pre-covid style refinancings of floating rate CLO debt on Monday as the manager prepares to refi four tranches of its 2014 vintage CLO named Dryden 36 Senior Loan Fund -
Trinitas prints first CLO following Clearlake aquisition with five-year deal
3 years ago
Trinitas Capital Management, the CLO management vehicle affiliated with Dallas-based WhiteStar Asset Management, has priced its first CLO since being bought by Clearlake Capital in June -
Blackstone revisits Reese Park with post-pricing CLO upsize
3 years ago
Blackstone Credit has become the fourth CLO manager this year to upsize a CLO post-pricing. Reese Park initially priced on 16 October at $408 million and is set to close on 30 November at $510 million, with the addition of new debt tranches paying lower rates of interest -
York executes post-pricing upsize on CLO's floating rate notes
3 years ago
York Capital Management has upsized a US CLO between its pricing and closing dates, mirroring a route taken by PGIM in August -
Colorado pension allocates $70 million to CLO debt strategy
3 years ago
Colorado Fire & Police Pension Association approved a $70 million commitment to a CLO debt strategy at its 5 November board meeting -
Apollo appoints head of credit valuations from sell-side
3 years ago
Apollo has appointed a head of credit valuations, as its previous head of credit valuations has transitioned internally to cover private equity valuations -
Five-year reinvestment CLOs now market standard after Kayne prices
3 years ago
Kayne Anderson has priced its second CLO post-covid and continued the market's decisive shift towards five year reinvestment periods -
CLO pipeline: deal flow slows ahead of US election
3 years ago
Only two forthcoming new issue US CLOs have been added to the pipeline this week as the election slowdown hits credit markets. This comes after eight new issue US CLOs and five European CLOs have priced over the last ten days during the pre-election rush -
York completes first new issue CLO of 2020
3 years ago
York Capital Managemend priced its first new issue CLO of the year on Friday, teaming up with Goldman Sachs on the $387.6 million deal named York CLO-8 -
CLO Census results: Citi comes out top but several banks make big leaps
3 years ago
Citi has been voted top in five out of the eight primary CLO categories as part of the 2020 Creditflux CLO Census, but BNP Paribas, Goldman Sachs, Jefferies and Natixis are among the banks that have made huge strides compared to last year -
Alcentra and Black Diamond print unusual CLO refis with variable call structures
3 years ago
Black Diamond Capital Management and Alcentra have priced unusual CLO refinancings in the last few days. Uniquely among post-covid deals, the two managers have completed fixed-note refis where different tranches of their CLOs will have variable non-call periods -
Octagon cements itself as most prolific refinancer of fixed-rate CLOs
3 years ago
Octagon Credit Investors teamed up with Goldman Sachs on Friday to refianance the $10 million double A-rated fixed tranche of its 2017 CLO Octagon Investment Partners 32 -
GSO edges past Redding Ridge in 2020 CLO new issues with US deal
3 years ago
GSO Capital Partners priced a new issue US CLO on Friday, bringing its total volume globally for 2020 ahead of Redding Ridge Asset Management for the first time since March -
Four US CLO refis highlight diverging manager strategies
3 years ago
Four US CLO managers - Ares Management, GSO Capital Partners, Marathon Asset Management and Voya Alternative Asset Management - have each refinanced fixed-rate CLO tranches, with the four deals totalling $69 million in paper. But new strategies are beginning to emerge -
Symphony prices unusual refi of CLO three years out of reinvestment
3 years ago
Symphony Asset Management has taken the unusual step of refinancing a tranche of a CLO three years after it left its reinvestment period. The deal, named California Street CLO XII, is a 2013 vintage CLO that exited reinvestment in October 2017 -
CLO pipeline: managers prepare to end quarter with a bang
3 years ago
CLO issuance is showing no signs of slowing down as spreads continue to grind tighter and election day draws ever closer -
Fracking servicer FTS files for chapter 11 protection
3 years ago
Fracking servicer FTS International filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas Houston yesterday. The credit is not widely featured in CLOs with only nine managers holding $47.9 million of FTI’s term loans -
Two managers team up with Goldman to refinance 2017 CLO tranches
3 years ago
Two CLO managers - Sound Point Capital Management and Sculptor Capital Management - yesterday teamed up with Goldman Sachs to refinance fixed-note CLO tranches from 2017 vintage CLOs. Both managers' fixed coupon fell by 137 basis points in the process -
Ares prices second tightest CLO post-covid with 180.5bp funding costs
3 years ago
Ares Management has priced its second US CLO amid the coronavirus pandemic, securing the second tightest funding costs for a three-year reinvestment deal since the March sell off -
Boutique Chicago manager returns to CLO primary after 16 months to reprice tranche
3 years ago
PPM Loan Management made a CLO primary market comeback on Tuesday after repricing a fixed-rate tranche from its inaugural 2.0 transaction PPM CLO 2018-1 -
Three CLO managers join rush to refi or reprice fixed rate CLO tranches
3 years ago
Three CLO managers - American Money Management Corporation, Teachers Advisors, and ArrowMark Colorado Holdings - have jumped on the fixed rate CLO refinancing or repricing trend -
Black Diamond prices first CLO primary deal for over 12 months with refi
3 years ago
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 -
Sound Point goes refi route for fixed notes of 2018 CLO
3 years ago
Sound Point Capital management is the latest CLO manager to refinance the fixed rate debt in one of its CLOs after working with Goldman Sachs to slash funding costs on Sound Point CLO XIX
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