CLO pipeline: managers large, small and new ready to price in post-Labour Day surge
US managers are preparing a wave of new issue CLOs in the coming days, as the usual post-Labour Day pricing surge comes to fruition even in this most unusual of years

Kartesia hires from BNP Paribas after launching first standalone CLO strategy
Kartesia has hired to its structured credit team having launched a first dedicated CLO strategy this year, officials at the company confirm

Euro CLO league tables: Deer Park takes GSO to top and gets Deutsche off the mark
For the second time in as many months a new name sits at the top of the European rankings as GSO Capital Partners takes the throne

Global CLO league tables - August 2020 YTD
Global CLO league tables - August 2020 YTD

Triple A investors lock in spreads for extra three months as Marble Point prices CLO
Marble Point Capital Management has a make-whole provision applied on its first new issue US CLO since February

CSOs start printing again with new money ready to invest
The synthetic bespoke market is putting behind it the turmoil of recent months, with a pipeline of new CSO transactions starting to price and a swelling supply of new money lining up to invest.

Ucits at a glance: Ucits funds march on and erase Q1 losses
95% of Ucits credit funds listed with Creditflux posted positive returns in June to keep up the momentum from May when all but one fund was in positive territory

Investors get creative with new ways to trade the curve
Credit index curve trading is gaining new features going into August, evidencing deeper liquidity for CDS strategies, but also that investors already have one eye on the upcoming September rolls.

Rampant technicals push cash and CDS in different directions
Central bank interventions, primary market issuance and high yield defaults have conspired to create major distortions in credit performance, which sources say are ripe for opportunistic trading.

Redding Ridge back as top CLO issuer post sell-off with new US and EU deals
Redding Ridge Asset Management has shot back to become the largest CLO issuer by volume since the sell off in March after printing a new issue apiece in the US and Europe, according to market sources

AT1s come into focus after financial CDS rally
The credit rally in June and July has favoured CDS referencing financial borrowers, but sources note a breakdown of usual market relationships that has left pockets of value for investors

Double As reach 200bp as HPS prices European CLO
HPS Investment Partners has priced its inaugural European CLO of 2020 via BNP Paribas, achieving market tights across nearly all parts of the capital stack

AGL passes Palmer Square as most prolific US CLO issuer since sell-off
AGL Credit Management has become only the third manager to issue three new CLOs and the most prolific issuer of US deals since the coronavirus-led March sell-off

HPS markets largest European post-covid CLO via BNPP
HPS Investment Partners has returned to the European CLO market after 14 months' hiatus, marketing the largest European post-covid CLO transaction

It’s all going to plan
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

Points up front: I’m terribly sorry, I didn’t quite catch that…
Creditflux has been running a series of webinars on CLOs and private credit, and despite the risk of unreliable technology, these have been held with few wifi-related issues...

US triple A spreads hit 160bp as GSO prices second post-covid CLO
Triple A spreads on new issue US CLOs have further tightened to 160 basis points

European 2020 CLOs reach €10 billion as MacKay prices second ever deal
Mackay Shields has priced its second ever European CLO, via BNP Paribas, bringing European CLO new issue volumes to €10 billion 

MacKay Shields markets second European CLO
MacKay Shields is marketing its second European CLO, nine months after debuting on the continent 

Bond buckets and greater flexibility: CLO market prepares for '3.0' era
3.0 CLOs are likely to see structural tweaks that give managers more flexibility in their investments, according to panelists on the Creditflux West webinar, which was held yesterday

Euro CLO league tables: fresh faces emerge with new deals
May was a month of fresh faces as three new managers entered the ring for the first time in 2020

GSO prices first post covid-19 European CLO
GSO has partnered with BNP Paribas to print its first post covid-19 European CLO, according to market sources, marking the seventh transaction in the continent since the pandemic began

European CLO trader set to join Axa IM
An experienced CLO trader in London is going to be taking on his first buy-side role, sources say

CSOs are hurting but will emerge stronger, say sources
It is unsurprising that bespoke synthetic tranches have suffered during the covid-19 crisis, as they are backed largely by real money investors that have gone outright long credit risk. But more noteworthy and reassuring, say sources, is that most have held firm in their positions and look set to stick with the asset class — in contrast to the 2008 global financial crisis exodus

European CLO market gets going in a hurry with Redding Ridge three-year deal
The European primary CLO market has gone from being shut for a month to pricing two deals within hours of each other and developing a term curve that is very much in its infancy