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Global CLO b-wic round-up: junior tranches trade above par as US volumes reach $45bn
1 month ago
A busy week of over $1.4 billion of US CLO secondary bonds and €290 million of European CLO paper gave light to CLO spreads across the capital structure continuing their push towards pre-covid levels -
CLO pipeline: LCM switches arranger to complete deal and join issuance surge
1 month ago
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 -
Global CLO b-wic round-up: Junior tranches rally amid heavy supply, including portfolio liquidation
1 month ago
The US CLO secondary market rally is showing no signs of slowing down after a week of over $1 billion worth of bonds was listed and well absorbed, according to market sources. The European market also had a roust week with over €300 million of paper up for grabs, although the market stayed generally flat with some tightening in double and single Bs -
Global CLO b-wic round-up: Secondary markets rally despite ‘worst liquidity seen all year’
2 months ago
An adjournment in the US for Veterans Day last week still left plenty of time for the CLO secondary market to rally, thanks to Pfizer's covid-19 vaccine breakthrough and a firmer indication of the US presidential election results -
Beneath the triple C: cinemas get clipped but default picture improves
2 months ago
14 corporate debt issuers were downgraded to triple C or below in October by Moody’s or Standard & Poor’s – hurting $3.15 billion of US CLO loans, €761.73 million of European CLO portfolios and $37.95 million of middle market CLOs loans, according to CLO-i. Cinema chains were among those to suffer last month -
US CLO round-up: 23 managers wait in the wings after avoiding pre-election rush
2 months ago
CLO managers rushed to the primary market last week as they sought to lock in financing before the US presidential elections. This resulted in one of the busiest weeks in the primary market with 10 new issues -
Global b-wic round-up: Europe drifts wider
2 months 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 -
Euro CLO round-up: fluctuating spreads give mixed signals
3 months ago
Last week was one of the European CLO market’s busiest since the coronavirus crisis began, as four managers brought new deals to market – adding €1.35 billion -
US CLO round-up: New Mountain gives a peek at better times
3 months ago
CLO primary issuance has produced healthy volume over the last few weeks with new issue paper totalling $7.9 billion since 21 September. -
Global CLO b-wic round-up: CLO mezz tranches widen amid macro concerns
3 months 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 -
Global CLO b-wic round-up: CLO lower mezz tightens while equity investors strive for duration
3 months ago
A large supply of CLO paper flooded the secondary market last week as $1.5 billion of US CLO bonds and €370 million of European CLOs were listed, according to CLO-i -
LP round up: private credit drive gains momentum as Calpers backs Pimco
4 months ago
Private credit continues to be viewed as an attractive investment strategy for institutional investors, with four global allocators outlining new buckets, or increases to the asset class -
Global CLO b-wic round-up: dealers get involved amid rally, but dispersion persists
4 months ago
The CLO secondary markets returned to form last week with $716.2 million of US CLO bonds and a further €306.5 million of European CLO paper listed. Although for both markets over half of the total volume listed came from Thursday’s scheduled b-wics -
Global CLO b-wic round-up: US CLO triple As finally rally while European investors go ‘all in’
5 months ago
A huge supply of $731 million of US CLO triple A bonds pushed US CLO secondary volumes to just shy of $1.5 billion last week -
Global CLO b-wic round-up: Palmer Square sets highest cover as double B curve inverts
5 months ago
Palmer Square and MJX set the CLO secondary market trading range, but pickings in Europe were the slimmest they have been in almost five months -
CLO pipeline: AGL aims high as it prepares fifth new issue of 2020
5 months ago
US CLO managers are sensing opportunities in the CLO market either via new issue CLOs or by refinancing the fixed-rate tranches in their legacy deals -
Global CLO league tables - July 2020 YTD
5 months ago
Global CLO league tables - July 2020 YTD -
US CLO league tables: refis return as Apollo and Citi maintain leads
5 months ago
US CLO monthly issuance rose above $8 billion in July for the first time since the coronavirus pandemic wreaked havoc across the globe -
Global CLO b-wic round-up: secondary CLOs rally but dispersion persists
5 months ago
The US CLO secondary market rallied, and spreads compressed last week, but there are still several outliers -
CLO pipeline: Redding Ridge plans fourth US CLO since March
5 months ago
Last week proved to be one of the busiest weeks of the primary CLO market since the start of the coronavirus pandemic, with $5.21 billion worth of new paper issuance coming through: eight US CLOs, one middle market deal and three euro CLOs -
LP round up: Oregon eyes $1.8 billion into structured credit
5 months ago
Institutional investors have earmarked over $6 billion to credit funds over the past two weeks -
Global CLO b-wic round-up: CLO lower mezz spreads tighten back after volatile two weeks
6 months ago
Secondary CLO spreads in the US and European markets have recovered after moving wider over the last two weeks -
CLO pipeline: break's over - time to print deals
6 months ago
The CLO market has taken a slight pause after the independence holiday in the US last weekend, meaning the CLO pipeline includes a backlog -
Global CLO b-wic round-up: spreads widen in short week to end manic June
6 months ago
A shortened week brought an end to a manic month of secondary CLO activity. $343.5 million of US CLO and €309 million of European CLO paper was on sale last week, dropping $1.05 billion and €170 million from the previous week -
CLO pipeline: Managers prepare to build on momentum in July
6 months ago
The demand for new issue CLO paper is strengthening with eight US CLOs, one mid market CLO and three European CLOs preparing to print in the coming days
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