Creditflux

Global CLO round-up: it's time to rethink benchmarks
The CLO market broke out of holiday mode last week by presenting strong issuance on both sides of the Atlantic - $2.8 billion in the US and €1.6 billion in Europe. High volumes have brought with them bigger shifts in market dynamics. This week put the focus on tightening spreads, as benchmark triple A levels dipped.

Wellfleet teams up with Citi to issue $404 million CLO
Wellfleet Credit Partners has priced its latest CLO offering named Wellfleet CLO 2019-1, according to market sources

Controlling equity stake in 2018 CLO fails to trade in secondary market
Over 90% of an equity tranche from a 2018 Sound Point Capital Management CLO was available on b-wic yesterday but failed to trade  

Wellfleet reworks its debut CLO for a third time in $325 million reset
Wellfleet Credit Partners has teamed up with Morgan Stanley to rework its inaugural 2015 vintage CLO for a third time, according to market sources

Wellfleet prices triple As tight of market average after issuing CLO via Mizuho
Wellfleet Credit Partners teamed up with Mizuho on Friday to launch a new issue CLO named Wellfleet CLO X

Mizuho wins first new issue CLO arranger mandate since 2015
Mizuho is marketing its first new issue CLO since 2015, having scored the mandate to arrange the forthcoming 10th CLO to be managed by Wellfleet Credit Partners

CLO portfolio managers score promotions at Wellfleet
Wellfleet Credit Partners, the performing credit arm of Littlejohn and co., has promoted its two CLO portfolio managers Scott McKay and Dennis Talley to managing director, according to a statement from the firm. Wellfleet also announced that Jeff Tynik has been promoted to senior credit analyst and loan trader

Wellfleet prices third new issue CLO of 2018
Wellfleet Credit Partners has moved close to $4 billion CLOs under management, after pricing a $407.5 million new issue deal on Friday via Bank of America Merrill Lynch

Wellfleet cuts triple A spread by 51bp in second CLO refi of October
Wellfleet Credit Partners has returned to the CLO refi market for the second time this month to rework Wellfleet CLO 2016-2

Wellfleet refinances CLO's triple As after leaving them untouched last year
Wellfleet Credit Partners priced a partial CLO refi yesterday in a $230.75 million transaction

Wide CLO pricing need not be a drag
Established managers can price CLO liabilities at attractive levels, but we find that CLOs saddled with higher financing costs have nevertheless been among the market’s outstanding performers

Global CLO round-up: buttermilk-shakes things up as CLO spreads go everywhere
Ahead of the US Labor Day weekend, CLO issuers have been grafting away with $6.5 billion pricing across the US market through 11 deals

Wellfleet prices its second new issue CLO of the year
Wellfleet Credit Partners priced its eighth-ever new issue CLO yesterday following a $508.6 million transaction

Wellfleet looks to build CLO investment business after big hire
Wellfleet Credit Partners has hired a CLO investor with a view to developing a structured product investment arm

Greenwich-based manager prices its first new CLO of 2018
A Greenwich-based CLO manager has priced its seventh new issue transaction since it entered the market in 2015

Greenwich manager sails into CLO market to refi 2016 deal
A US credit manager has priced its first CLO transaction of 2018

Fast-growing CLO manager prices triple As at 115bp in new US deal
A credit manager is building up a following among CLO investors, and has now priced three deals this year

CLO manager leaves triple As untouched in unusual refi
A US CLO manager priced its first refi on Friday, but a make-whole clause meant that the triple A notes were left untouched

Boutique US CLO manager prices triple As at 125bp
A firm, which debuted in CLOs back in 2015, seems to have acquired a strong investor following

Spread decline makes style vital
It’s not the number of CLOs you manage, it’s how you manage them: with 62 US firms pricing CLOs this year, managers are keen to stand out from the crowd

Citi upsizes US manager’s planned fifth CLO amid strong demand
US manager puts majority equity into planned CLO number five: the rest of he sub notes are also spoken for

Littlejohn affiliate prices first CLO of the year after $50 million upsize
Wellfleet Credit Partners has priced its first CLO of the year, according to market sources

Greenwich-based manager gets to work on $400 million CLO
A Greenwich-based credit manager is working on its first CLO of the year, and fourth overall, according to market sources

Wellfleet prices third risk retention-compliant CLO in 13 months
Risk retention is proving to be a doddle for this new CLO manager, which has now priced three CLOs in just over a year