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Global CLO b-wic round-up: secondary market awakens with control equity bonanza
4 years ago
Four anchor positions made available on secondary market as equity accounts for over a third of all volumes. -
CLO pipeline: Carlyle and KKR plan swift re-entries
4 years ago
Carlyle Group and KKR are included in the CLO pipeline this week as both managers have started marketing their latest transactions as the US CLO pipeline begins to look full after a quiet week -
Euro trading: Vue proves to be leading light for CLOs, but liquid bonds play crucial support role
4 years ago
Vue International's newly issued loan starred in 25 CLO managers' portfolios, which bought €239.4 million of the loan in June and made it a box office hit among CLO managers, according to CLO-i. -
CLO pipeline: Golub and Sound Point to cement positions among market leaders
4 years 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 sources -
CLO pipeline: refis can't wait till after summer
4 years ago
The CLO market in both the US and Europe looks to be slowing down in the near future with only two deals added to the running pipeline. -
CLO pipeline: US takes up baton after European July sprint
4 years ago
The US CLO market is ready to kickstart issuance in August as nine deals have been added to the running pipeline. -
Market rallies as key CLO investor retreats
A key CLO triple A investor dropped back from the market in the second quarter of 2019, but, remarkably, CLO spreads tightened as repricings came back and other investors drove demand4 years ago -
Global CLO b-wic round-up: 71% of equity positions trade as supply picks up
4 years 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 -
CLO pipeline: CSAM and Octagon look to move further ahead of the chasing pack
4 years ago
The CLO pipeline in all three markets looks similar to last week with a reduction of only around $500 million in predicted new issue volumes in each of the US, European and mid market CLO spaces. But all three of these market segments look healthy with new issues and refinancings being favoured by managers -
CLO pipeline: there's no drought here as market is doused with deals
4 years ago
Deal-makers have been taking in their H2O with little sign of summer slowdown in the CLO market as the pipeline approaches full force -
Global CLO b-wic round-up: control equity hits the market as secondary market picks up
4 years ago
The CLO secondary market in both Europe and the US brought healthy volumes last week. There was €174.9 million listed in the European CLO secondary market, while the US returned a with just over $600 million in CLO b-wics. -
CLO pipeline: managers return in force after varying time-outs
4 years ago
CLO managers in all markets are taking the view that the time is ripe to print their latest deals. There are 30 transactions in the US CLO pipeline this week with a further four in the middle market space and Europe -
Euro CLO round-up: returnee CIFC comes full circle, seven years after CLO sale
4 years ago
Having sold a European CLO contract seven years ago, CIFC is back and determined to build on its debut 2.0 European CLO -
Global CLO b-wic round-up: secondary volumes make up for slump in primary
4 years ago
June saw the highest volume of US CLO b-wics this year with over $3.8 billion of US CLOs on the auction block, according to CLO-i. -
Euro CLO round-up: smaller (and newer) issuers print deals as spreads edge wider
4 years ago
It has been a relatively busy week for the European CLO market after three new deals priced to end a 17- day silence in the primary market. The quiet spell was broken by smaller CLO issuers. -
CLO pipeline: Barclays and Goldman branch out to mid market
4 years ago
The US CLO pipeline has been full in recent weeks and this continues, with 18 new issue CLOs and a further nine refinancings appearing this week. -
CLO pipeline: newcomer emerges with unusual transaction
4 years ago
The US CLO pipeline continues to fill up, with 20 new issue US CLOs featured and another 17 deals set to be refinanced. -
CLO pipeline: deal flow picks up as Amherst and SocGen work on mandates
4 years ago
This week’s CLO pipeline looks very healthy in the US broadly syndicated loans CLO market with Amherst Pierpont and Societe Generale among the firms working on mandates -
Euro CLO b-wic round-up: secondary volumes increase amid demand for short-dated paper
4 years ago
Last week saw over €230 million of European CLO items listed on the secondary market, matching the almost €1 billion seen in refinancing volume. -
CLO pipeline: new business and manager returns add ray of light as arbitrage clouds the picture
4 years ago
The near-term CLO pipeline is shrinking amid familiar cries that the equity arbitrage is challenging. Adding to constraint fundamentals, the usual summer torpor is also approaching. -
Euro CLO round-up: after three-year hiatus, two Apollo/Redding Ridge CLOs come along at once
4 years ago
The Japanese bid for CLO triple A notes is taking a break for at least a few weeks, according to market sources, effectively removing a key contributor to the benchmark levels set this year. -
Euro CLO round-up: benchmark ruffles up, but junior tranches sit tight
4 years ago
CLO triple A benchmark levels underwent a shake-up last week as Credit Suisse Asset Management and HPS Investment Partners brought deals to the market with first-pay tranches printing above the recent benchmark of 108.5 basis points -
Global b-wic round-up: Short-dated CLO paper hits the market
4 years ago
Last week brought over $800 million of b-wics listed in the US CLO secondary market for the first time this month, with around 10% being paper that had a reinvestment period that ended in 2019. -
Global b-wic round-up: US CLO equity continues its surge
4 years ago
Last week marked the third straight week that the US CLO secondary market has seen total listings of under $600 million, but over a quarter of that was equity. -
Managers slide down term curve
4 years ago
PGIM and Voya were among managers issuing short dated deals in the first quarter. These CLOs, along with a surge in b-wics, kept up the supply of short dated paper as refinancings fell away
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