Refis, resets and reissues back in vogue as four US CLO managers print deals
Various shades of CLO refinancings dominate the US CLO primary market with four deals - two refis, a reset and a reissue - printing on Wednesday for a total volume of $1.1 billion. This surpassed all US CLO refinancings in the six months from March to September last year

US CLO league tables: AGL and JP Morgan topple leaders in new issuance, but Apollo and Citi maintain overall dominance
Only 13 months after setting up shop, AGL Credit Management vaulted itself to the top of the US CLO new issue league tables in 2020

Global 2020 CLO league tables
Global 2020 CLO league tables 

FS Investment scored late entry in 2020 with debut BSL CLO
The world welcomed a new CLO manager in the final days of 2020 as FS Investments teamed up with JP Morgan to bring its first solo transaction to market

CLO issuers flex their bond muscles
Some panellists at Creditflux’s US CLO Investor Summit pointed to structural difficulties, but the consensus was that flexibility — particularly the ability to buy bonds — could improve performance

US CLO league tables: new issue rankings go to wire as post-pricing upsizes pop up
The new issue US CLO rankings are tightly contested with JP Morgan leading Citi by just $641 million with one month left of the year. Even in December's typically slower weeks this is a closeable gap 

Global CLO league tables - November 2020 YTD
Global CLO league tables - November 2020 YTD

LCH starts clearing US credit index options
LCH, the central clearing house of the London Stock Exchange Group, has expanded its CDSClear service to clear US credit index options

PGIM reunites with JP Morgan for first US new CLO partnership in six years
PGIM has reunited with JP Morgan for the pair's first new issue US CLO in partnership in almost six years

CLO pipeline: LCM switches arranger to complete deal and join issuance surge
Over $3.5 billion of global CLO issuance priced last week and managers in all three CLO markets are taking advantage of tightening spreads across the capital structure after three major covid-19 vaccine breakthroughs and increased confidence since the US presidential election

Correction: JP Morgan shifts bulk of CLO portfolio to held to maturity
JP Morgan has shifted two thirds of its CLO portfolio to the 'held to maturity' part of its balance sheet, posting $31.15 billion worth of CLO holdings on 30 September of which $20.95 billion were held to maturity

Loan market delivers best one-day returns since April due to US election and vaccine
The S&P/LSTA Leveraged Loan Index recorded its best single day returns since April on Monday as investors celebrated in a string of positive developments that sent markets into overdrive

US CLO league tables: JP Morgan nips ahead of Citi as debutants pour in
JP Morgan has surged to the top of new issuance rankings following a busy September and October in which the bank was lead arranger for 10 new CLOs totalling $3.9 billion

Global CLO league tables - October 2020 YTD
Global CLO league tables - October 2020 YTD

Single B notes return as Palmer Square prints third reinvesting US CLO of 2020
Palmer Square Capital Management priced its ninth new issue CLO of 2020 on Friday, teaming with JP Morgan on the $401.1 million Palmer Square CLO 2020-3

Palmer Square achieves tightest cost of debt for European CLO since March sell-off
Recent European CLO debutant Palmer Square Capital Management priced its second static CLO on the continent last week

CLO pipeline: deal flow slows ahead of US election
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

Voya prints ESG European CLO via JP Morgan
Voya Investment Management has priced an environmentally, social and governance-compliant European CLO named Voya European CLO IV

Carlyle secures 132bp triple As on second post-covid CLO
Carlyle Group printed its second CLO post-covid on Friday, teaming up with JP Morgan on the new $359.8 million deal named Carlyle US CLO 2020-2

CLO Census results: Citi comes out top but several banks make big leaps
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

Ares prices third new US CLO since April
Ares Management printed its third US CLO post-covid yesterday, bringing its new issue volume amid the pandemic to $1.39 billion

Gulf Stream employs 'additional issuance' option to complete novel CLO upsize
Gulf Stream Asset Management has upsized the entire capital stack in Gulf Stream Meridian 2 five months after the deal was closed, in what is thought to be first 2.0 CLO to opt for an upsize after closing date

Marathon prices first new issue CLO of 2020
Marathon Asset Management has completed its first new issue CLO of 2020

Time to trade falling dispersion and high yield compression, says JP Morgan
Investors should position for falling dispersion by trading on-the-run versus off-the-run iTraxx Europe index series, say JP Morgan strategists. And Crossover / Main compression trades look attractive as high yield underperformance has gone too far

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