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Issuers fashion new outfits for junior mezz
Junior CLO tranches have lost around five points in the past quarter. In response, new issue desks are dressing up junior debt in two piece suits and designing a range of protective styles2 days agoCLOs at a glance: innovations arrive as year draws to close
A round-up of CLO performance2 days agoPGIM resets European CLO to cross €2 billion in 2019 issuance
4 days ago
PGIM reset its 2015 European CLO today, Dryden 35, via Goldman Sachs. It takes the PGIM’s 2019 European CLO volumes pass €2 billionGlobal CLO league tables at a glance - November 2019 YTD
9 days ago
Global CLO league tables at a glance - November 2019 YTDUS CLO league tables: CSAM pulls away from pack
9 days ago
The back and forth tussle between Octagon Credit Investors and Credit Suisse Asset Management for the lead in the US CLO issuance league tables took a new turn in NovemberSenior European CLO spreads edge wider as PGIM markets reset
15 days ago
PGIM is marketing a reset of a 2014-vintage European CLO with price talk on the floating rate senior notes at 98 basis points, say market sourcesGlobal CLO b-wic round-up: Junior mezz covers return while triple A supply drives big week
19 days ago
Narrowing of the bid-ask gap that has plagued junior mezzanine tranches could bring a change of fortunes in the US CLO secondary marketUS CLO league tables: Octagon retakes US lead, but CSAM still on top globally
1 month ago
Octagon Credit Investors priced Octagon 45 via Goldman Sachs to overtake CSAM by just $33.3 million in overall US issuance, but CSAM still leads the way in new US CLO and global CLO issuance- European corporate loans can fit into various fund types and this year there has been an increase in managed accounts targeting these assets. But CLOs are still the best structures to house loans1 month ago
PGIM launches US CLO with unfunded double Bs
1 month ago
To double B or not to double B, that is the question as PGIM issues an unfunded double B-rated note as part of Dryden 80 CLO, a new issue deal which priced on Friday via Bank of AmericaPGIM becomes first CLO manager to price 12 transactions in 2019
1 month ago
PGIM has priced a €412.38 million new issue CLO via Citi named Dryden 73 Euro CLO 2018, becoming the first CLO manager to complete 12 transactions globally this yearKroll fires back at ‘factual errors’ in WSJ CLO rating report
2 months ago
Kroll Bond Rating Agency has hit back at the Wall Street Journal article that suggested the firm gives higher ratings to CLOs than its competitorsUS CLO league tables: CSAM climbs to the top
2 months ago
Only $10.9 billion was brought to the US CLO market last month, while in the middle market CLO space, no deals priced. But Credit Suisse Asset Management dared venture into the primary market and as a result it moves to the top of the league tablesPGIM teams up with BNP Paribas for new issue US CLO
2 months ago
PGIM priced its fifth new issue CLO of the year on Friday in a $401.3 million transaction arranged by BNP ParibasEuro CLO round-up: debt investors own the floor as tempo picks up
2 months ago
It was one of those rare weeks in Europe when volumes surpassed the much larger US CLO market and, to cap it all off, spreads made a big jump tighter.PGIM scores Europe's tightest CLO print of 2019 as resets make a comeback
3 months ago
PGIM yesterday reset its 2016 CLO named Dryden 48 via BNP Paribas, according to market sources, scoring the European market’s tightest triple A print of the year at 101 basis points over EuriborPGIM's euro credit research head joins former colleague at Angelo Gordon
3 months ago
PGIM’s head of European credit research has joined Angelo GordonCLO pipeline: Golub and Sound Point to cement positions among market leaders
3 months ago
Last week there were nine CLOs priced in the US market, including four broadly syndicated loan new issues and two middle market new issues, whereas there was no issuance in Europe. The CLO action over the next few weeks is again weighted towards the US, according to market sourcesPGIM to join exclusive list of managers to reset, rather than refi, a euro CLO
3 months ago
PGIM is set to join the small but growing list of managers to reset a European CLO this year, as the manager teams up with BNP Paribas to bring a reset of Dryden 48 Euro CLOUS CLO league tables: JP Morgan narrows gap to Citi in new issues to $50 million
4 months ago
July saw $14.9 billion of issuance in the US CLO space with $9.4 billion of that in new issue CLOs. One of the transactions brought to the market was Whitebox Capital Management’s debut CLO, Whitebox I.Global CLO b-wic round-up: 71% of equity positions trade as supply picks up
4 months ago
The European and US secondary CLO market took a step back this week as the primary CLO generated $7.8 billion of deal flow globally- A round-up of CLO performance5 months ago
PGIM goes all in as it refis 2016 CLO for second time
5 months ago
Having refinanced the junior debt in a US CLO last year, PGIM has refied the entire capital stack of its 2016-vintage CLOPGIM resets January 2019 'print and sprint' CLO for three years
5 months ago
PGIM has teamed up with Jefferies to reset its ‘print and sprint’ CLO from earlier this year, extending the deal’s reinvestment period for three yearsUS life insurers grew their CLO investments by 31% in 2018, finds Moody's
5 months ago
US life insurers held $79.4 billion in CLO exposure at the end of 2018, which is up 31% from the amount held at the end of 2017, according to a report by Moody’s Investor Service
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