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PGIM goes all in as it refis 2016 CLO for second time
4 years ago
Having refinanced the junior debt in a US CLO last year, PGIM has refied the entire capital stack of its 2016-vintage CLO -
CIFC becomes first manager to print four new issue US CLOs in 2019
4 years ago
CIFC Asset Management today became the first CLO manager to price four new issues in the US market this year after executing a deal via BNP Paribas -
TICP cuts triple A spread down to 120bp in refi of 2016 CLO
4 years ago
TICP yesterday cut the funding costs of a 2016 vintage CLO by 38.74 basis points via refinancing -
Arrival of five-year bespokes draws in CLO investors
4 years ago
Synthetic bespoke tranches are undergoing a major shift, with dealers projecting five-year business to supersede previously dominant shorter tenors by the end of 2019. -
US CLO round-up: dropping anchor (investors) brings CLO spreads tighter
4 years ago
Syndication was the theme of the week across the global CLO market last week as managers and arrangers presented deals which were sold to a more diverse group of investors than has been the case for most of this year. -
GSO prices CLO with tightest prints across senior and junior tranches
4 years ago
CLO spreads fell sharply yesterday as GSO Capital Partners priced a new issue deal named Niagara Park CLO with a weighted average funding cost of 176.65 basis points over Libor -
Oaktree refinances 2016 European CLO with triple As at 87bp
4 years ago
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 -
Symphony becomes 90th manager to price CLO this year
4 years ago
Symphony Asset Management yesterday became the 90th CLO manager to price a transaction this year after printing a new issue named Symphony CLO XXI -
Credit traders' kickstand: Trump gives Europe the ghoulies as single B spectres haunt CLOs
4 years ago
Trade tariff terrors and things that go triple C rated in the night are top of the list of items spooking credit market sentiment at the end of this week -
BNP Paribas lands double punch with two CLOs in a day
5 years ago
BNP Paribas made a $1.11 billion splash in the US CLO market on Friday, pricing two new issue CLOs. -
Bespoke gains pull CLO buyers as market tipped to hit $100bn
5 years ago
Synthetic bespoke issuance could catch up with the more visible CLO market this year, say structured credit specialists -
Past Returns: Repacking in land of the rising sun
5 years ago
Five years ago in Creditflux, we reported that Bank of Tokyo Mitsubishi UFJ was embarking on a strategy of buying repackaged CLO triple A notes denominated in Japanese yen -
MJX prices first new issue CLO in five months
5 years ago
MJX Asset Management returned to the CLO primary market yesterday with its first new issue deal in five months -
Triple B fightback has begun, says BNP Paribas
5 years ago
Fallen angel risk – the possibility that a wave of triple B credits could be cut by rating agencies to sub-investment grade – should begin to decline, according to strategists at BNP Paribas -
Seix returns to CLO market with double step-up tranche in two-year deal
5 years ago
Seix Investment Advisors yesterday priced its first new issue CLO since 2017, according to market sources -
Redding Ridge crosses Atlantic for new euro CLO
5 years ago
Redding Ridge Asset Management - the capitalised manager vehicle (CMV) launched by Apollo Global Management - priced its first European CLO on Friday -
Octagon CLO pricing points to tightening mezz tranches
5 years ago
Octagon Credit Investors priced its second CLO transaction of the year yesterday and its first new issue, Octagon Investment Partners 40 -
Carlyle prices Europe's second CLO of the year as triple As stick at 108bp
5 years ago
Carlyle Group has priced Europe’s second CLO of 2019, following a €409.1 million transaction arranged by BNP Paribas -
Ares prices new issue US CLO with triple As at 133.69bp
5 years ago
Ares Management teamed up with BNP Paribas on Friday to price a new issue CLO named Ares LI -
Ares mandates BNP Paribas with its first CLO of 2019, according to ratings agency reports
5 years ago
Ares Management has teamed up with BNP Paribas to launch its first CLO of the year -
Carlyle Group and BNP Paribas market new issue euro CLO
5 years ago
Carlyle Group is in the market with its first CLO transaction of the year, according to market sources -
Credit spread improvement is calm before the storm, warn strategists
5 years ago
European and US credit markets have begun 2019 with a more buoyant tone than they ended 2018, but strategists warn that bearish factors still outweigh and suggest the overall direction of spreads this year is likely to be wider -
JP Morgan makes big hire to its global credit trading desk
5 years ago
An experienced banker who has covered CLOs, CSOs, loan TRS and credit derivatives, has joined JP Morgan after leaving BNP Paribas -
Cash-CDS basis set for comeback after "falling knife" mishap, predicts BNP Paribas
5 years ago
The beginning of 2019 should revive interest among credit investors to trade the basis between cash bonds and credit default swaps, according to BNP Paribas strategists – following what they term “falling knife” dynamics in this year’s fourth quarter -
European CLO volumes to drop in 2019, but mezz could benefit, says BNP Paribas
5 years ago
Demand for European leveraged loans will be lower in 2019 due to lower CLO issuance, predicts BNP Paribas
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