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Short duration CLOs are putting reset risk in the post: Barclays
1 year 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 -
Euro CLO seniors firm up, but mezz widens as Jefferies prints Spire new issue and CSAM reset
1 year ago
Jefferies has expanded its European CLO arranging lead as senior spreads remain in line with recent deals, mezz appears to have leaked slightly wider and deals continue to feature capped tranches -
Euro CLO triple As show signs of succumbing to macro volatility as €1 billion paper prints
2 years ago
Over €1 billion worth of European CLO paper priced on Wednesday with two new issues from KKR and Spire, alongside a reset from ICG -
Euro CLO single Bs widen to March 2020 levels as Partners resets
2 years ago
DMs on the Penta 3 reset were not disclosed but wider volatility in the market has led single B coupons on Penta 3’s deal to blow out to 983bp. But the CLO's senior tranche remained in line with guidance -
HPS resets 2017 CLO bought from Bardin Hill
2 years ago
HPS Investment Partners has reset and upsized a 2017 CLO it acquired from Bardin Hill Investment Partners in 2021 -
PGIM becomes third manager this year to reset 2015 Euro CLO
2 years ago
PGIM has paired with Morgan Stanley to reset its 2015 deal Dryden 39 -
BlackRock resets 2019 European CLO with strong single B execution
2 years ago
BlackRock has reworked its 2019 European CLO BlackRock European CLO VIII -
Sound Point resets second Euro CLO with triple As to 93bp
2 years ago
Sound Point has teamed up with Credit Suisse to rework its second European CLO, resetting the deal and shaving 18.6 basis points off the CLO’s cost of debt -
KKR matches CSAM senior notes in Euro CLO refi, but goes tighter with mezz
2 years ago
JP Morgan has arranged a refinancing of KKR's 2016 European CLO Avoca XVII, which has around 2.2 years left of reinvestment with its non-call ending next February -
CSAM refis European CLO with two-year triple As at 82bp
2 years ago
The CLO’s triple As priced at 82 basis points over Euribor, down from 95bp, in line the deal’s most recent guidance but wider than the 77-79bp original guidance -
Barings and BNP Paribas team up for first European CLO reset of year
2 years ago
BNP Paribas has reset Barings Euro CLO 2015-1 with all tranches (bar the double Bs) pricing roughly in line with December resets. -
GLG and Citi kick off Europe's CLO market in 2022 with partial refi
2 years ago
Man GLG has kicked off the European CLO market in 2022 with a partial refi of its 2020 short-dated deal, Man GLG Euro CLO VI -
Three managers think alike with refis of two-year European CLOs
2 years ago
Three European CLO managers hit the primary market on Friday to print two-year refinancings. This deal profile has been popular of late with seven such deals pricing in little over a month -
Cairn CLO becomes 30th 2020 Euro CLO to be reset
2 years ago
Bank of America arranged the €373 million transaction for Cairn, which cuts the CLO’s cost of debt by over 40 basis points -
Oak Hill resets 2016 European CLO via Morgan Stanley
2 years ago
Oak Hill Advisors has reworked its 2016 European CLO Oak Hill European CLO V -
Napier Park resets 2020 Euro CLO for five years
2 years ago
Napier Park has reset its 2020 European CLO, Henley CLO III, with Greensledge and NatWest partnering to upsize and inject the CLO with a fresh, full five-year reinvestment period -
PGIM switches Euro CLO double A tranche from fixed to floating rate with refi
2 years ago
PGIM has refinanced three tranches – the triple As, one double A tranche and triple Bs - of its 2018 European CLO Dryden 66 -
Partners becomes first manager to refi rather than reset 2020 European CLO
2 years ago
JP Morgan won the mandate to refinance Penta CLO 8, which cuts the deal's cost of debt by 34.6 basis points -
KKR offers 105bp area for junior triple As with Avoca Euro CLO refi
2 years ago
KKR Credit Advisors is looking to refinance triple A to triple B minus debt tranches from its Avoca CLO XX this week -
Euro CLO 2021 issuance exceeds €90 billion as CVC takes top spot with reset
2 years ago
The reset of CVC Cordatus Loan Fund XVIII also brings CVC’s volume this year past €5 billion and takes the manager into top spot for overall issuance -
Redding Ridge jumps to third spot as it resets 2020 European CLO
2 years ago
JP Morgan reset and upsized Redding Ridge's European CLO, RRE 5 -
Investcorp reworks 2020 European CLO via BNP Paribas
2 years ago
BNP Paribas arranged the €443 million transaction, which cuts the CLO’s cost of debt by over 18 basis points to 190.3bp -
Natwest partners with GreensLedge for second European CLO arranging role this year
2 years ago
GreensLedge and Natwest have teamed up for what will be their second European CLO arranging role in 2021 -
BNP Paribas AM cuts CLO tranche costs throughout structure with refi
2 years ago
=BNP Paribas Asset Management has refinanced a 2019 Euro CLO, arranged via its banking arm, with tightening across all tranches -
ICG resets European CLO for third time
2 years ago
Intermediate Capital Group has reset a 2013 European CLO transaction, having initially reset it in 2017, reissued in 2018 and reset the deal in 2018
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