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Direct lenders agree to PIK as borrowers feel tariff pressure
20 days ago
Borrowers are facing stress and asking direct lenders for the option to use payments-in-kind instead of cash for interest payments, leading to debate over whether PIK use aids recovery or simply obscures financial stress -
The market will not look kindly on managers that don’t reset their deals
20 days ago
In today’s CLO market, the choice is stark: reset or slowly perish -
CLOs that refinanced in 2024 are set to take advantage of market turbulence
1 month ago
There are opportunities for CLOs to build par through discounted purchases -
LCM shaves 27bp off 2022 CLO's funding costs following reset
1 year ago
LCM Asset Management reset its 2022 CLO named LCM 38 on Thursday, tightening the deal's original capital structure by 27.46 basis points -
New CLO reset from Elmwood has 2023's tightest capital structure
1 year ago
Elmwood Asset Management reset Elmwood CLO 19 on Tuesday, scoring the tightest liability pricing of the year for a five-year reinvestment deal in the process -
LCM readies its first CLO primary transaction of the year
1 year ago
LCM Asset Management is working with Deutsche Bank on its first CLO primary market transaction of 2023 which is expected to print next week -
Triple As tighten to 170bp as Ares resets 2022 CLO
1 year ago
Ares Management teamed up with JP Morgan on Monday to reset its 2022 deal named Ares CLO LXVI, with the triple A notes matching the tightest print of the year -
Audax becomes first manager of 2023 to reset a CLO
2 years ago
Audax Private Debt has become the first manager of 2023 to complete a CLO reset, teaming with Bank of America to rework its 2020 middle market deal named Audax Senior Debt CLO 4 -
CLO resets poised to return despite wide liability spreads
CLO onlookers are heralding the return of resets in 2023 in a boost to CLO primary market forecasts. -
Brightwood prices sole CLO reset in second half of 2022
2 years ago
Brightwood Capital Advisors reset its 2020 middle market CLO named Brightwood MM CLO 2020-1 on 21 December, in the process completing the only CLO reset in the second half of 2022 -
CLOs can weather a short recession, but maybe not a long one, conference hears
2 years ago
The US economy is likely to enter a recession in the first half of 2023, attendees at IMN's ABS East conference heard on Tuesday. While the severity of the downturn is unknown despite the Federal Reserve aiming for a 'soft landing', CLOs are well positioned to weather the storm - as long as the recession is contained in a relatively short period -
Short duration CLOs are putting reset risk in the post: Barclays
2 years ago
The CLO market’s recent trend of shorter duration issuance could be setting up a problem for managers down the line that will impact their equity returns, Barclays has warned -
Oaktree prints new US CLO while Deerpath resets mid-market deal
3 years ago
The US CLO market has added to its June transaction tally, with Oaktree Capital pricing a new issue while Deerpath Capital Management reset a 2018 vintage mid-market deal -
Loan buyers warned about rush of Sofr opt-in amendments
3 years ago
CLO managers must be mindful of loan amendments that facilitate a benchmark switch from Libor to Sofr, as they could find themselves buried in paperwork and locked into tight deadlines -
"The CLO market can resemble a primary school soccer game, with everyone crowded around the ball"
3 years ago
The ability to refinance or reset a CLO is valuable, but there are friction costs to consider -
US CLO refis return with Angelo Gordon pricing first since February
3 years ago
Angelo Gordon refinanced its Northwoods Captital 22 CLO on Tuesday, completing the first successful CLO refi in two and a half months -
Antares upsizes billion-dollar CLO in third-largest primary transaction of 2022
3 years ago
Antares Capital reset its 2018-2 CLO via Deutsche Bank on Thursday, in the third-largest primary market transaction of the year at $1.06 billion -
CBAM CLO debt comes into play with reset incentive
3 years ago
Carlyle Group’s acquisition of CBAM for roughly $787 million ($615 million in cash) has underlined that we are in a seller’s market, sources say. But a key part of that deal will be the ability to extend CBAM CLOs through resets -
Owl Rock doubles size of 2020 mid market CLO with reset
3 years ago
Owl Rock Capital has more than doubled the size of its late 2020 CLO named Owl Rock CLO V after resetting the deal on Monday, -
Bain and CSAM each reset a late 2019 CLO with senior triple As yielding 135bp
3 years ago
Bain Capital Credit and Credit Suisse Asset Management each reset a CLO from late 2019 on Friday, with both deals placing their senior triple A tranches at 135 basis points over Sofr -
Credit Suisse braves market turmoil to print CLOs for Nuveen and Onex
3 years ago
Credit Suisse has maintained its CLO issuance amid market turmoil by printing transactions for Onex Credit Management and Nuveen Asset Management -
Golub upsizes 2020 CLO by over $100 million
3 years ago
Golub Capital Partners took to the CLO reset market on Wednesday to reset its late 2020 CLO named Golub Capital Partners CLO 50(B), upsizing the transaction by $102.5 million -
MidCap doubles size of 2018 CLO with reset
3 years ago
MidCap Financial almost doubled the size of its 2018 CLO named Woodmont 2018-4 Trust by resetting the deal via Deutsche Bank on Friday -
Sound Point resets 2019 US CLO for three years
3 years ago
Sound Point Capital Management priced a short reset of its 2019 CLO named Sound Point XXV, renewing the deal's reinvestment period for three years -
Trinitas resets 2019 CLO in line with recent new issues
3 years ago
Trinitas Capital Management on Tuesday reset its 2019 CLO, Trinitas X via BNP Paribas, according to market sources
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