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European CLO trades wide in secondary amid CLO risk retention issue
3 years ago
A European CLO manager has been caught in a rare situation owing to risk-retention compliance for its 2015-vintage Euro Galaxy IV – and CLO traders have factored this in the secondary market -
US and European control CLO positions land in secondary market
3 years ago
The first control equity positions of 2021 for the European and US CLO markets were listed in the secondary market on Thursday -
PineBridge resets 2016 Euro Galaxy V
3 years ago
PineBridge Investments has reset a 2016 CLO via Bank of America -
Managers brave covid-hit sectors to drum up returns
3 years ago
Price dislocations among companies operating in industries affected by covid-19 mean they may offer some of the best opportunities for CLO managers and CSO investors — and sources say that neglecting these sectors could hurt performance -
RBC arranges two US CLO tranche refis
3 years ago
Barings and PineBridge each priced their first US CLO transactions of 2020 after refinancing fixed rate tranches from 2018 vintage deals, according to market sources -
Trading places: it can pay to bet on the little guy
3 years ago
It’s assumed investors know how good a CLO manager is by the rate at which they trade their way through a crisis. But this time fi ve small, nimble managers are outperforming the market -
It’s all going to plan
3 years ago
Whether managers are relaxed because they can make up losses later, or are putting more money into their deals, panellists on the Creditflux West webinar weren’t panicking about OC breaches -
Global CLO b-wic round-up: US triple Bs edge wider but 2020 bonds trade at a premium
3 years ago
The furious rally that the secondary CLO markets have gone through over the last two weeks was brought a halt by the Federal Reserve’s reminder on Wednesday night that all is still not well with the economy -
CLO managers seek to defer and redirect equity distributions
3 years ago
Half of US CLOs are due to miss equity payments as downgrades and defaults resulting from the lockdown economy trigger overcollateralisation breaches across the market, according to the latest bank research estimates. But some managers are being granted the flexibility to redeploy cash -
Global CLO b-wic round-up: equity makes a return as investors search for price levels
3 years ago
Three European CLO equity bonds have traded with colour attached in the last two weeks in the secondary market -
Euro CLO league tables: new issues shatter 2018’s record but total issuance falls
4 years 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 -
Beyond blacklists: the next step in ESG
4 years ago
Credit managers are integrating ESG into their investment processes, but that does not mean they are unable to invest in unethical credits — they can, if they are paid adequately for the risk. -
Euro CLO league tables: back to earth in tandem as issuance nosedives
4 years ago
August brought just €1.12 billion of issuance in the European CLO market across two refinancings and one reset, the quietest month since January when only €0.51 billion of European CLOs priced -
CLO pipeline: refis can't wait till after summer
4 years ago
The CLO market in both the US and Europe looks to be slowing down in the near future with only two deals added to the running pipeline. -
THL anchor CLO equity seeks purchase in secondary market
4 years ago
Up for auction later today is the 15th controlling stake in a US CLO this year, with nine of the previous 14 having failed to trade -
PineBridge refi shows steep term curve in European CLO market
4 years ago
PineBridge Investments has refinanced its 2016 vintage CLO named Euro Galaxy V, according to market sources -
The sky is not falling in on the CLO market, writes PineBridge
4 years ago
CLO market participants are fighting against the perception that their strategy is the detonator to another nuclear financial crises. PineBridge Investments took aim this week at naysayers predicting doom, re-emphasising arguments made last month during Creditflux's CLO Symposium in London. -
Budge up, more new managers are coming
Room for 10 more? The average loan overlap among recent European CLOs is 48.7% – so the expected influx of new managers will have to work hard to distinguish themselves from the pack4 years ago -
Capital raised for risk retention keeps struggling CLOs afloat
4 years ago
In a bid to turn struggling warehouses into CLOs, managers are prepared to take losses on funds raised for risk retention in order to issue new deals. -
Euro CLO round-up: managers make equity work with innovative structures
5 years ago
Equity arbitrage has been under pressure but managers are braving the market and getting creative with deals to make deal economics work -
114bp is Europe's syndicated triple A benchmark as Pinebridge prices new CLO
5 years ago
114 basis points has been reinforced as the benchmark for syndicated CLO triple As in Europe with Pinebridge Investments becoming the fourth manager to issue at this level -
European CLO equity in focus for secondary market with 50% trade rate
5 years ago
European CLO equity valuations ranged from the 50s to 70s, but only two our of four positions traded yesterday -
PineBridge prices $454.5 million new issue CLO with triple As at 120bp
PineBridge Investments has priced its fourth new issue CLO of the year via Barclays
5 years ago -
Goldman prices new issue US CLO for regular client
5 years ago
A west coast manager issued its eighth CLO transaction of the year, with Goldman Sachs now having completed four of those -
PineBridge prices CLO refi via Mizuho with unusual triple A debt structure
5 years ago
PineBridge Investments teamed up with Mizuho to refinance 2016 CLO, Galaxy XXII, according to market sources
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