Dealers zero in on pair of managed CSO formats
The eagerly awaited introduction of ‘managed’ CSOs is getting closer, with hopes still alive for an inaugural deal before the end of March and consensus forming around two alternative approaches.

Bank's former US CLO syndication head lands at Apollo
The former head of US CLO syndication at a bank has joined Apollo Global Management for a dual role in the firm’s structured credit business

Carlyle prices triple As at market tights with new European CLO
Carlyle Group has priced its first new European CLO since July 2019 with triple As printing at market tights of 92 basis points

Voya reworks second CLO in space of two weeks
Voya Alternative Asset Management has reworked a second CLO in as many weeks, with the manager turning to BNP Paribas to refinance four tranches of Voya CLO 2014-2

Redding Ridge prices senior triple As at 123bp in new US CLO
Redding Ridge Asset Management teamed up with BNP Paribas today to issue the manager’s latest new issue CLO, known as RR 8

Manager markets European CLO as single B attachments drop to 6.75%
Attachment points for CLO single B tranches are dropping with market sources indicating that a large European CLO manager is launching a deal with single Bs attaching at 6.75%

GSO joins exclusive club of US CLO managers to price triple As under 100bp
GSO Capital Partners joined a select few US CLO managers that have priced a deal this year with triple As paying under 100bp

Euro CLO league tables: three new issues make January just right
Three European managers braved the waters in January to kickstart the CLO primary market

US CLO league tables: old deals get a fresh start in the new year
The majority of CLO issuance last month was in all forms of repricings, which totalled $4.8 billion and accounted for 54.5% of US CLO volumes

First AMR auction passes smoothly with all bonds trading
The first applicable margin reset (AMR) auction took place between 8am and 10am eastern time yesterday to refinance TCW CLO 2019-1, with all five tranches clearing successfully

Accunia returns to CLO primary market with first new issue since 2018
Accunia yesterday returned to the CLO primary market with its first new issue since June 2018

Medalist makes CLO breakthrough with $305.9 million new issue
Medalist Partners Corporate Finance has priced its first CLO since rebranding from JMP Credit Advisors, according to market sources

Medalist prepares first CLO since 2019 rebranding
Medalist Partners Corporate Finance is preparing to price the first CLO under its own moniker, according to market sources

Credit traders’ kickstand: primary market flood gives basis for relative value
A deluge of investment grade bond supply in the first two weeks of the year has weighed on the spread basis between the cash market and CDS, leaving opportunities for traders who believe this dislocation should correct over the coming weeks

Oil supply concerns grease CDS relative value trade
With credit spreads having begun 2020 circling post-crisis tight prints, there is not much room across the market for improvement and plenty of susceptibility to jitters. But at least one CDS index shows scope to narrow further and could form part of a relative value trade

CLO 2020 outlook: lower volumes predicted, but it’s not all bad news
US CLO issuance is expected to drop by roughly 20% next year, according to bank research desks. This comes after a solid 2019 in which $101 billion of new US CLOs have priced through 92 managers, as Creditflux goes to press

AGL follows up October CLO debut with new low-levered deal
AGL has made good on its low levered CLO promise after pricing AGL Core CLO 2 via BNP Paribas on Friday

CSO arrangers look to build on $65bn of issuance in 2019
The synthetic bespoke tranche market this year has fallen short of expectations in terms of overall issuance volume, but ends with transformative inroads being made.

No 2020 recession, cyclical bonds will outperform and CLOs won't crash, says BNP Paribas
There will not be a recession in 2020 and investors should stay long credit with the expectation that high yield cyclical and non-financial borrowers will outperform in a bullish market, BNP Paribas strategists have confidently predicted

AGL targets new strategy with unusual low-levered CLO
AGL Credit Investors is testing the water with a new CLO structure, according to market sources

Double Bs tighten as Regatta prices junior CLO debt at 730bp
Regatta Loan Management, the CLO management entity linked to Napier Park Global Capital, has joined the select number of US CLO issuers to price double-B rated debt at less than 800 basis points

European CLO spreads widen as Commerzbank prices first 2019 CLO
European CLO spreads widened sharply on Friday as Commerzbank issued a new CLO with triple As paying 101 basis points over Euribor

CLO pipeline: ESG, risk retention and secondary loans come to the fore
Managers new and old are trying different strategies and structures to price their latest deals    

Mid market CLO league tables: springing back into life after September drought
After a September hiatus, three managers returned to mid market CLOs in October to bring issuance back on track as monthly volume exceeded $1 billion for the sixth time this year

CLO syndication head exits BNP Paribas
BNP Paribas' head of US CLO syndication has parted ways with the bank, according to market sources, ending an eight-year stay at the firm