Redding Ridge and Palmer Square climb to top of US new issue CLO league tables
Redding Ridge Asset Management and Palmer Square Capital Management have climbed to first and second position in the 2020 new issue US CLO league tables after each pricing new deals

Global CLO b-wic round up: dealer bid strengthens secondary CLO market across the board
The US CLO secondary market had over $1 billion listed in b-wics last week, the first time at this level in three weeks according to CLO-i. A further €270 million went on sale in the European CLO secondary market, as the dealer bid returned to assist in continued tightening across the capital stack

Nuveen targets $500 million for 'pure play' talf fund
Nuveen is aiming to raise up to $500 million for a 'pure play' term asset backed loan strategy, Creditflux understands

Mezzanine CLO spreads tighten with BlackRock US deal
BlackRock has priced a $397.7 million new CLO via Goldman Sachs, acheiving a 175 basis points print on its tightest triple As, according to market sources

OC health check: interest diversion failures foreshadow breaches
14 CLOs reported over-collateralisation test breaches last week, five for the first time, according to the latest trustee reports available on CLO-i. 

Ares sets CLO triple A benchmark with senior notes at 170bp
Ares Management has priced a new three-year reinvestment US CLO at the tight end of price guidance, setting new benchmark levels in the process

JC Penney bankruptcy weighs on CLO and CDX HY baskets
CLO managers hold nearly $250 million of the debt of JC Penney, which filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas on Friday

$350 million of CLO collateral drips into default as oil companies file for Chapter 11
CLOs hold $353 million worth of debt of two oil and gas companies - Ultra Petroleum and Gavilan Resources - which have become the latest casulties of the precipituous decline in oil prices. The pair filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas on Thursday and Saturday, respectively

Zais teams up with RBC for US CLO
Zais Group is working with Royal Bank of Canada on a forthcoming US CLO, with market sources indicating the senior notes are being guided at 250 basis points

Oaktree gets off the mark with one-year reinvestment CLO
Oaktree Capital Management has priced its first US CLO of 2020, partnering with Barclays to produce a one-year reinvestment deal. The CLO has priced wide of where some three-year deals were being marketed, with Oaktree CLO 2020-1 printing its senior notes at 200 basis points

Apollo and Barings defer equity payments on long-dated CLOs
Apollo Global Management and Barings have joined PGIM in deferring their scheduled April payment dates for a handful of European CLOs, according to the latest payment reports on CLO-i. Apollo also deferred payments on several of its US CLOs.

Assurant outsources investment management
Assurant has outsourced the management of its core investment portfolio to Goldman Sachs Asset Management and Voya Investment Management

Listed CLO fund rebounds in April with 5.7% gain
US and European CLO equity tranches brought in gains of 10% in April for the fund, US CLO debt 12.1%, ABS 0.6% and bank balance sheet transactions 0.3%

US pension's joint venture with Barings set to produce first CLO
Jocassee Partners, a joint venture established between Barings' business development company and South Carolina Retirement Systems, is marketing a CLO

Mid market CLOs open for business as Owl Rock prices first new issue after covid-19 shock
The primary market for CLOs backed by loans to middle market companies is open for business with Owl Rock Capital today pricing the first new issue mid market deal following the coronavirus outbreak

Onex scores tightest CLO debt execution following covid-19 outbreak
Onex Credit Partners today teamed up with Bank of America to price its first CLO since the coronarvirus outbreak, named OCP CLO 2020-18

Junior spreads finally tighten as Fair Oaks prices Europe's fifth pandemic-era CLO
Fair Oaks Capital today became the fifth CLO manager to price a new issue amid the coronavirus pandemic

CLOs hold $100 million of Intelsat debt as it files for bankruptcy
CLOs hold nearly $100 million of the debt of Intelsat, a Luxembourg-headquartered fixed satellite services provider, which filed for chapter 11 protection in the US Bankruptcy Court for the Eastern District of Virginia late last night

First Creditflux web panel discusses outlook for CLOs amid covid crisis
Panellists at the first ever Creditflux webinar conference on CLOs struck a balanced view on the outlook for their market, highlighting crucial differences between the crisis resulting from the coronavirus pandemic and the global financial crisis of 2008

CLO pipeline: Apollo targets fourth deal as managers line up to break 2020 ducks
Six CLO managers, five in the US and Fair Oaks Capital in Europe, are showcasing their first new issues of the year in preparation for pricing later this month. And Apollo Global Management is marketing its fourth new issue CLO (third US new issue CLO) in the last month and a half

Three-year US CLOs set to tighten as large managers market deals
US CLO triple A spreads are tightening sharply this week with market sources indicating that benchmark levels for three-year reinvestment deals have gone into the 180s

Private credit wins investor as Maryland pension introduces 5% allocation
Howard County Retirement has introduced a new bucket to the private credit asset class, reducing its core bond and hedge fund exposure to facilitate this measure, according to board documents seen by Creditflux

Gulf Stream prices upsized CLO as demand picks up
Gulf Stream Asset Management has priced a second CLO following its longawaited return to the market earlier in the year

CLO market welcomes 'favourable and surprising' revisions to talf, but issues remain
CLO participants are welcoming the 'many favourable and even pleasantly surprising' revisions to the term asset backed lending facility announced by the US Federal Reserve today to address previous concerns. This could help reignite the market, but some issues were not addressed

Legacy CLO warehouses brought into scope of Fed's talf programme
The US Federal Reserve has published an updated term sheet and FAQ for its term asset-backed securities loan facility programme with amendments to allow a greater scope of CLOs as eligible collateral