Global CLO b-wic round-up: that's another fine mezz you've gotten me into4 days ago
European CLO investors are tripping over themselves to buy mezzanine paper in the secondary CLO market
Beneath the triple C: $1 billion of CLO credits take a dive11 days ago
$957.9 million worth of loans held by CLOs suffered downgrades to triple C last month, with a further $442.1 million of existing triple C credits getting knocked lower still, according to the latest trustee reports on CLOi.
Global CLO round-up: welcome back, give us a (refi) wave17 days ago
Tighter corporate credit spreads means new issue volumes are down, but it makes a decent entry point for new CLO managers to price deals and also makes refinancing CLOs imperative
Global CLO b-wic round-up: equity, equity everywhere, but trading volumes sink25 days ago
For the second week in a row, over $230 million of US CLO equity went on sale and multiple control equity positions were listed in the CLO secondary market
CLO pipeline: Medalist ascends podium as new issues pace themselves29 days ago
CLO managers are biding their time before re-entering the primary CLO market, but this week Investcorp Credit Management, KKR and Medalist Partners are marketing new issue US CLOs
Global CLO b-wic round-up: US CLO equity returns in big way as four control positions hit the market1 month ago
Over $230 million of US CLO equity went on sale last week via bid lists, the first time these assets have made their way to the secondary market in 2020. It also marks the most US CLO equity listed in a week since at least 2018, according to CLO-i
CLO pipeline: no rest for the wicked as new issues hit the market1 month ago
CLO market participants do not have the luxury of easing their way back to work with the new issue market up and running and a pipeline that is filling up fast
Global CLO b-wic round-up: junior mezz rebounds with busiest week since June1 month ago
Secondary market CLO trading has made a busy start to 2020 with $478.6 million of US deals and €103.3 million of European CLOs up for sale last week
Global mid market CLO league tables: Golub and Natixis lead by a distance1 month ago
Golub Capital and Natixis dominated the mid market CLO space in 2019 in the manager and arranger league tables, respectively
Euro CLO league tables: new issues shatter 2018’s record but total issuance falls1 month ago
The European CLO market continues to grow at a record shattering pace with 2019 new issuance volumes totalling €29.8 billion, an 8% increase on 2018’s previous record figure, from 53 active managers
US CLO league tables: CSAM makes it three in a row as Citi completes a clean sweep1 month ago
The US CLO market suffered a drop in volume last year with $149 billion of issuance, down 43% on 2018’s $262.5 billion. But the heavy slump was not across all forms of CLO pricing, as new issues once again crossed $100 billion and only suffered a 6.5% fall
CLO 2020 outlook: lower volumes predicted, but it’s not all bad news2 months ago
US CLO issuance is expected to drop by roughly 20% next year, according to bank research desks. This comes after a solid 2019 in which $101 billion of new US CLOs have priced through 92 managers, as Creditflux goes to press
CLO pipeline: DFG keeps its finger on the pulse2 months ago
It will be a busy year-end for new issue CLOs in the US. DFG is returning with Pulsar II, using collateral sourced entirely from the secondary market
CLO pipeline: high triple C bucket opens a Gateway to pricing2 months ago
In less than ideal market conditions, even experienced CLO managers are learning new tricks to keep the pipeline full. Of the 11 US new CLOs that appear in the pipeline this week, two are high triple C bucket transactions
Global CLO b-wic round-up: Junior mezz covers return while triple A supply drives big week2 months ago
Narrowing of the bid-ask gap that has plagued junior mezzanine tranches could bring a change of fortunes in the US CLO secondary market
European CLO round-up: new look turbos power up junior CLO tranches3 months ago
Junior CLO debt investors are getting more defensive and this has resulted in the emergence of new-look CLO turbo tranches
CLO pipeline: ESG, risk retention and secondary loans come to the fore3 months ago
Managers new and old are trying different strategies and structures to price their latest deals
CLO pipeline: Sculptor begins to mould its first CBO4 months ago
Silence! Artist at work: Sculptor has got its apron on and is shaping up to launch its first CBO
Global CLO b-wic round-up: volumes jump as investors get their triple A fix4 months ago
The US CLO secondary market brought over $1.2 billion in total listings last week with the main driver behind last week’s supply being an increase in US CLO triple A bonds and an anchor equity position.
CLO pipeline: Capital time to debut in Europe as liability spreads drop4 months ago
CLO managers are showing no signs of slowing down, as a further 16 US and five European new issue CLOs, including Capital Four's CLO management debut, appear in the pipeline
Global CLO b-wic round-up: control stake trades as junior notes come to the fore4 months ago
The European and US CLO secondary markets produced high volumes of junior and subordinated notes last week. Over 30% of listings were rated as equity, single B or double B.
Euro CLO league tables: repricings take centre stage in bumper month as CVC leaps into first4 months ago
The European CLO market returned with a bang in September as €4.8 billion of issuance priced of which €2.7 billion was in repricings.
US CLO league tables: CSAM climbs to the top4 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 tables
Global CLO b-wic round-up: US and European double B trading patterns diverge4 months ago
48% of the CLO secondary market was made up of triple A bonds; $255.6 million of US CLOs and €108.55 million of European CLOs. But there were differences in how CLO double Bs are trading in those markets.
Euro CLO round-up: debt investors own the floor as tempo picks up5 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.
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