Creditflux

Bridge markets fourth CRE CLO
With three prior deals outstanding, Bridge Investments last visited the market in December

Ellington expands CLO team by hiring Black Diamond loan specialist
Ellington Management Group has hired an associate portfolio manager to its loan team

Oaktree prices one of the largest new CLOs of the year
Oaktree Capital Management yesterday priced one of the largest new CLOs of 2019, with the transaction coming in at $748.6 million

Job opportunity with Nassau: CLO investing
Nassau Private Credit is looking to hire a senior associate/senior vice president

Clover Tech cov-lite loan blots CLOs after spilling a third of its value
The past week’s biggest declining loan by some way, for printing cartridge maker Clover Technologies (aka 4L Technology), is a worry for CLO portfolios as some 21 managers hold the name, according to CLO-i

Waterfall hires CLO tranche investor in New York
Waterfall Asset Management has hired a CLO specialist from TIG Advisors, Creditflux has learned

Shenkman affiliate prices first new issue CLO after 12-month hiatus
Romark Credit Advisors, the Shenkman Capital Management affiliate formed for risk retention compliance, has priced the third CLO under its own moniker named Romark CLO III

Sound Point resets 2015 CLO with just days of reinvestment remaining
Sound Point Capital Management has squeezed in a $470 million reset of 2015’s Sound Point CLO IX just days before it left its reinvestment period

York prices first new CLO in 11 months
York Capital Management returned to tap the CLO primary market yesterday after an 11-month break

Investcorp prices triple As at 110bp in European new issue
The global issuer prices its second new deal in Europe

KKR splits double A tranche into fixed and floating as it prices US new issue CLO
KKR Credit has issued its third third new CLO of the year. One crucial difference between marketing and pricing was the split in the double A tranche into a fixed rate and floating rate tranche

CLO pipeline: there's no drought here as market is doused with deals
Deal-makers have been taking in their H2O with little sign of summer slowdown in the CLO market as the pipeline approaches full force 

Barings targets 110-111bp print on forthcoming European CLO
Barings is looking to join the exclusive list of European CLO managers to issue triple As around 110 or 111 basis points over Euribor

Eagle Point looks to complete IPO for CLO debt fund
Eagle Point Credit Management is looking to complete an IPO for a fund which invests in double B-rated CLOs, according to documents filed with the SEC

Deutsche AM's real estate division prepares second infra CLO
RREEF America, a subsidiary of Deutsche Asset Management that invests in commercial real estate, is readying a new securitisation backed by project finance assets named RIN II

CLO investor looks to offload US and European anchor equity positions
There are two controlling CLO equity stakes up for sale today with a 2017 European deal and a reissued US transaction going under the hammer

Global CLO round-up: it's time to rethink benchmarks
The CLO market broke out of holiday mode last week by presenting strong issuance on both sides of the Atlantic - $2.8 billion in the US and €1.6 billion in Europe. High volumes have brought with them bigger shifts in market dynamics. This week put the focus on tightening spreads, as benchmark triple A levels dipped.

Global CLO b-wic round-up: control equity hits the market as secondary market picks up
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. 

Alcentra scores tightest 1.5-year US CLO spread after 2016 deal refinancing
Alcentra has refinanced a single tranche of its 2016 CLO named Shackleton 2016-IX

Benefit Street slashes 32bp from 2016 CLO's funding costs via refi
Benefit Street Partners teamed up with Citi on Friday to refinance Benefit Street Partners CLO X, according to market sources, slashing 31.96 basis points from the deal’s weighted funding costs

Chenavari prices new issue CLO with triple As at Euribor plus 114bp
Chenavari Credit Partners priced a new issue CLO on Friday known as Toro European CLO 6, marking its first new issuance to come to market via Morgan Stanley

Carlyle teams up with Morgan Stanley to reset post-reinvestment CLO
Carlyle Group priced its ninth CLO transaction of the year on Friday, becoming the second manager after PGIM to achieve the feat

Partners teams with BAML to price US CLO
Partners Group has teamed up with Bank of America Merrill Lynch to price its fourth US CLO since debuting in May 2018

Another 2008 would leave IG CLOs without losses but default rates will climb, says BofE
CLOs will see greater losses in a downturn than they did in the last financial crisis, according to the Bank of England’s Financial Stability Report