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Lighten up, these are due an upgrade
2 years ago
CLO triple C buckets were overflowing last year, but the average exposure is now 7.3%. That is still close to trigger levels, but CLO managers are relaxed, as further loan upgrades are on the horizon -
CLO pipeline: queue gets longer as Blackstone goes again and Sancus makes first move
2 years ago
The queue to price for US CLO managers is only getting larger with 18 new issue CLOs in the pipeline, according to market sources, along with 18 repricings and two new issue European CLOs and two mid market CLO resets -
KKR, Oak Hill and Madison print combined $1.3 billion CLO resets
2 years ago
KKR Credit, Oak Hill Advisors and Madison Capital each priced a CLO reset on Wednesday, with the three deals amounting to $1.27 billion -
KKR prints new $406.05 million CLO via GreensLedge
2 years ago
KKR Credit teamed up with GreensLedge on Friday to produce its latest CLO offering -
Woah, we’re halfway there
2 years ago
Judging by the 2020 vintage, European CLO overlap is 50%. But varied approaches to holding bonds and the many loans managers turn down mean there are ways for issuers to outperform -
Global CLO league tables - April 2021 YTD
2 years ago
Global CLO league tables - April 2021 YTD -
Structurers tempted by buy-side perks amid CLO bonanza
2 years ago
Do you have experience structuring CLOs? If the answer is yes, then your skills are in demand, with asset managers keen to add CLO capital markets specialists amid the onslaught of CLO transactions that have taken place this year -
CLO pipeline: and breathe... issuance splurge clears the backlog
2 years ago
Over 20 deals remain in the CLO pipeline, despite a glut of issuance last week in which 38 transactions priced, totalling $18.1 billion -
JP Morgan US CLO structurer switches to buy side
3 years ago
A JP Morgan executive director is leaving the bank's CLO arranging team to join KKR Credit as a CLO structurer -
Former Credit Suisse CDO head returns to KKR
3 years ago
KKR has hired two managing directors to its global private credit team, with one its former structured credit fund manager -
KKR matches PGIM CLO triple A print despite extra year of reinvestment
3 years ago
PGIM and KKR have turned to the primary market to refinance legacy CLO transactions, each placing their triple A notes at Libor plus 95 basis points -
Secondary CLO spike pushes double Bs to 800bp as KKR resets
3 years ago
KKR Credit has priced a US CLO reset in another example of how junior CLO spreads have gapped out over the last two weeks -
Waiting for afters
3 years ago
Day one arb remains important, but last year there were opportunities aplenty in the secondary market, which put the onus on printing CLOs and waiting for the day after non-call periods expired -
KKR US CLOs highlight sharp February rally as triple Bs move in by 60bp
3 years ago
KKR priced its largest CLO in almost three years on Friday, teaming up with Citi to issue the $607.6 million deal named KKR CLO 31 -
Global CLO b-wic round-up: 2020 deals trade at premium
3 years ago
As the primary CLO market continues to grind tighter, the secondary market is holding steady, but last year's vintages are trading well as they near the end of their call-locks -
Global CLO league tables - January 2021
3 years ago
Global CLO league tables - January 2021 YTD -
CLO pipeline: snow business like the CLO business
3 years ago
CLO issuers are putting aside the cold snap and are warming up with a flurry of deals. -
KKR prices three-year reinvestment CLO via BNP Paribas
3 years ago
KKR Credit teamed up with BNP Paribas on Thursday to print a $402.3 million three-year reinvestment CLO named KKR 29 -
FS KKR resets 2019 CLO with single As the only tranche to tighten
3 years ago
FS Investments and KKR's business development company, FS KKR Capital Corp, has reset its sole CLO from 2019 -
KKR promotes three in credit team to managing director
3 years ago
KKR has unveiled 26 promotions globally to managing director, including three in credit -
KKR features delayed-draw single Bs in US CLO
3 years ago
KKR priced its fourth US CLO of 2020 last week, taking its deal volume for the year to $1.31 billion in the US and around $2.17 billion globally -
FS and KKR to merge BDCs to create $14.9 billion vehicle
3 years ago
FS Investments and KKR plan to merge their two business development companies into a single vehicle which would have about $14.9 billion in assets -
CLO pipeline: New issuance pause ends as managers look to gain from rallying spreads
3 years ago
It is two and a half weeks since the last US CLO new issue priced, but that is set to change and Bridgepoint’s debut European transaction on Friday brought an end to Europe’s own two-and-a-half-week primary break -
Global b-wic round-up: Europe drifts wider
3 years ago
The CLO secondary market had a robust week with $860 million of US CLO paper and €315 million worth of European CLO bonds listed. But spreads widened off the back of concerns over lockdowns across the globe, the increased risk of downgrades and tomorrow’s US presidential election -
Global CLO b-wic round-up: CLO mezz tranches widen amid macro concerns
3 years ago
Last week was busy for the primary European CLO market but not for secondary, with €1.35 billion of new issue European CLOs priced across four transactions but just €190 million of European CLO paper listed in b-wics
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