S&P puts US CLOs on negative watch including seven failing triple C test
Standard and Poor’s put focus on the recent volatility by placing tranches in 15 US CLOs on a negative watch for having large exposures to energy related sectors such as oil and gas, consumable fuels and commodities. In total, 25 tranches have been affected by this.

Secondary CLO triple As slump below October levels
The secondary CLO market is showing no sign of stopping the rut with triple A rated paper in European and US markets displaying more weakness

Credit managers hunker down as idiosyncratic risks persist
A slew of earnings reports from credit managers and business development companies shows that deal-making and performance are robust, but great importance is being placed on credit selection.

Minnesota pension slates $600 million to four credit funds
Minnesota State Board of Investments has earmarked $600 million to four credit funds

Oaktree scores second new euro CLO of 2019
Oaktree Capital Management priced its second new European CLO of the year, known as Arbour CLO VII, via Bank of America

CLO pipeline: DFG keeps its finger on the pulse
It will be a busy year-end for new issue CLOs in the US. DFG is returning with Pulsar II, using collateral sourced entirely from the secondary market

The ideal home for a loan

US CLO league tables: CSAM climbs to the top
Only $10.9 billion was brought to the US CLO market last month, while in the middle market CLO space, no deals priced. But Credit Suisse Asset Management dared venture into the primary market and as a result it moves to the top of the league tables

Oaktree prices its largest active CLO via Wells Fargo
Oaktree Capital Management yesterday priced its fourth CLO of 2019 and its third with a deal size over $700 million

CLO pipeline: managers look to avoid a repeat of 2018 with new issue flutter
US and European CLO managers are preparing to up the ante in September, but they will have to defy a trend set a year ago

Credit funds at a glance
A round-up of fundraising and people moves in credit

Oaktree BDC appoints CLO specialist as CEO and CIO
Oaktree Speciality Lending Corporation has appointed its new chief executive officer and chief investment officer, following the resignation of the incumbent CEO and CIO Edgar Lee

Connecticut $36 billion pension hires first chief risk officer
The Connecticut Retirement Plans and Trust Funds has hired its first-ever chief risk officer

THL anchor CLO equity seeks purchase in secondary market
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

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

Global CLO b-wic round-up: secondary volumes make up for slump in primary
June saw the highest volume of US CLO b-wics this year with over $3.8 billion of US CLOs on the auction block, according to CLO-i. 

CLO pipeline: Barclays and Goldman branch out to mid market
The US CLO pipeline has been full in recent weeks and this continues, with 18 new issue CLOs and a further nine refinancings appearing this week.

Market bemoans Europe’s lack of CLO manager tiering
Manager tiering became a hot topic in Europe again last month following Credit Suisse Asset Management’s decision to break with tradition by syndicating its triple A notes in Madison Park Euro Funding XIV, rather than place the notes with an anchor investor.

Oaktree refinances 2016 European CLO with triple As at 87bp
Oaktree Capital Management yesterday refinanced its 2016 vintage CLO named Arbour CLO IV, producing the European market’s first sub-90 basis point print in over nine months

Oaktree plants US CLO with fixed rate junior triple-A notes
Oaktree Capital Management priced its second new issue US CLO of 2019, less than a month after printing Oaktree CLO 2019-1

Back so soon: Oaktree markets follow-up US CLO
US CLO managers are moving their issuance forward at a rapid rate, with sources indicating that Oaktree Capital Management is working with Morgan Stanley on a new issue less than a week after pricing its first US deal of the year

CLO pipeline: managers decide there's no point hanging about with quick-fire CLOs
The CLO pipeline for the coming week shows signs of decent flow as managers ready themselves to offload deals. 

Oaktree's head of European distressed debt to lead expansion in Asia
Oaktree Capital's head of distressed debt for Europe and Asia will relocate to Hong Kong 

Oaktree prices triple As at benchmark spread with new CLO via Wells Fargo
OakTree Capital management priced their first US CLO of the year via Wells Fargo yesterday

Global CLO round-up: 15 months to one month - managers set their own pace
Three new US CLOs priced this week courtesy of; Seix Advisors, via BNP Paribas; Kayne Anderson, via Goldman Sachs; and Steele Creek, via RBC. In Europe, Oaktree Capital Management paired with Barclays to price Arbour CLO VI.