US CLO round-up: Fed up of waiting2 days ago
The US CLO market made a bright start this year, but 2019 now lags 2018 and 2017 after a weak August checked its momentum. This has left some pinning their hopes on a favourable outcome to the US Federal Reserve meeting this week, amid political overtures to up its game in the wake of the European Central Bank's stimulus package
US loan trading: Sinclair loans dominate the airwaves as CLOs tune in2 days ago
Sinclair Broadcasting Group and Diamond Sports – both subsidiaries of issuer Sinclair - worked their way into CLO portfolios in July, with 91 managers purchasing $1.42 billion of the loans in July
CLO pipeline: managers look to avoid a repeat of 2018 with new issue flutter8 days ago
US and European CLO managers are preparing to up the ante in September, but they will have to defy a trend set a year ago
US CLO round-up: 20 managers sit on the sidelines as volumes play catch-up9 days ago
US CLO issuance this year is trailing 2018 by $10.7 billion as of 6 September, dampened by a slow third quarter. But Napier Park and Par-Four priced deals, which means that 20 managers are yet to return having priced CLOs last year
Global CLO b-wic round-up: secondary market awakens with control equity bonanza9 days ago
Four anchor positions made available on secondary market as equity accounts for over a third of all volumes.
CLO managers cash in their chips as Caesars trade pays off21 days ago
Caesars Entertainment was the most sold issuer in June with $158.8 million of its term loan sold out of CLOs.
CLO pipeline: Carlyle and KKR plan swift re-entries22 days 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
CLO pipeline: Golub and Sound Point to cement positions among market leaders29 days 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 summer1 month 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.
US CLO round-up: summer blues don’t weigh on the issuance parade1 month ago
Summer is shining on US CLOs as $3.8 billion worth of activity entered the market last week. The flow brought four new deals (including one middle market deal), one reset and two refinancings.
Credit traders' kickstand: volatility puts paid to primary, but pays out for relative value buyers1 month ago
The persistence of credit market choppiness has brought into focus CDS/bond basis plays, options positioning, high yield dispersion and peripheral European weakness - but mainly the volatility rash has put a block on borrowers' primary market aspirations
CLO pipeline: US takes up baton after European July sprint1 month ago
The US CLO market is ready to kickstart issuance in August as nine deals have been added to the running pipeline.
- 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 demand1 month ago
Global CLO b-wic round-up: 71% of equity positions trade as supply picks up1 month 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
Credit traders' kickstand: tighter and tighter we go, as outlook gets 'worse and worse'1 month ago
It’s a strange world, where the president of the European Central Bank can say the economic outlook is “getting worse and worse” as credit markets surge into new territories of tightness
CLO pipeline: CSAM and Octagon look to move further ahead of the chasing pack1 month 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 deals2 months 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 up2 months 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-outs2 months 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
Global CLO b-wic round-up: secondary volumes make up for slump in primary2 months 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.
CLO pipeline: Barclays and Goldman branch out to mid market2 months 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 transaction3 months ago
The US CLO pipeline continues to fill up, with 20 new issue US CLOs featured and another 17 deals set to be refinanced.
US loan trading: CLO managers on cloud nine after Ultimate Software allocations3 months ago
CLO managers took down about 27% of Ultimate Software's loans in April, when the cloud operator issued its $2.3 billion first lien term loan due 2026, according to CLO-i
CLO pipeline: deal flow picks up as Amherst and SocGen work on mandates3 months 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
US CLO b-wic round-up: secondary volumes reach new heights with equity lagging3 months ago
The US CLO secondary space saw almost $1.8 billion of paper listed last week according to CLO-i, a record amount for this year. Equity, however, did not draw much interest
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