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

The tranche market shines, whatever your view on credit
Index tranche volumes have reached record levels this year and CSOs have withstood the covid crisis. Panellists at the Credit Dimensions webinar outlined a range of trades in a thriving market

Dealers power up as tranche trading hits new heights
A big year for index tranche trading has taken volume within grasping distance of full-year 2019, a post-financial crisis record, with a deepening pool of dealers adding support

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

Sixth Street prices first CLO following split from TPG
Sixth Street Partners has priced its first CLO under its own moniker. Named Sixth Street CLO XVI, it follows Sixth Street's split from private equity parent firm TPG in May this year

Four US CLO refis highlight diverging manager strategies
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

Oak Hill breaks post-covid CLO record with 125bp triple A print
US CLO triple As reached new tights last week after Oak Hill Advisors' latest new issue placed its first-pays at just 125 basis points over Libor

Golub takes CLO series to 50 with first BSL deal of 2020
Golub Capital Partners reached a new milestone last week after pricing the 50th deal in its series of US CLOs

CLO pipeline: managers prepare to end quarter with a bang
CLO issuance is showing no signs of slowing down as spreads continue to grind tighter and election day draws ever closer

Aegon matches BlackRock for tightest CLO triple A print since March
Aegon USA Investment Management has priced one of the tightest CLO structures post-covid via JP Morgan, with a triple A note printing at 127 basis points over Libor

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

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

European CLO volumes expected to rise and fall in coming months: Creditflux CLO Symposium
Europe's CLO primary market is gearing up for a busy few months as managers seek to term out pre-covid warehouses before they enter their amortization periods, but the longer-term outlook for issuance is more uncertain, according to panelists on the European CLO panel at Creditflux's CLO Symposium today

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

Whitebox returns after 13 months to issue second CLO
Whitebox Capital Management has priced the second new CLO in its history, with a new $404.4 million transaction named Whitebox CLO II

CLO pipeline: a marathon for some, a sprint for others
Following a week in which there were three US CLO refinancings, one new issue CLO and one upsizing, three more US CLO managers are marketing latest new issue CLOs after varying times away

Big US banks pull back from CLO primary market to preserve cash
CLO triple As have tightened substantially in recent weeks to tights of 155 basis points in the primary market - but sources say the big US banks that typcially invest in these bonds are not buying

Global CLO league tables - July 2020 YTD
Global CLO league tables - July 2020 YTD

US CLO league tables: refis return as Apollo and Citi maintain leads
US CLO monthly issuance rose above $8 billion in July for the first time since the coronavirus pandemic wreaked havoc across the globe

CSAM prices second-largest CLO following March loan market crash
Credit Suisse Asset Management has priced the second largest CLO of the pandemic era, according to market sources. Its latest new issue, named Madison Park Funding XLVI, came in at a supersized $596.2 million