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CLO round-up: secondary market rallies amid increased primary supply
9 months ago
CLO primary activity increased across the board this week, with US new issue supply amounting to $1.8 billion - up 48.7% on the week prior - while in Europe supply increased 208.8% to €1.2 billion -
New Bain CLO prices tight and sees Europe's longest reinvestment period of 2023
9 months ago
Bain Capital Credit priced its first European CLO of 2023 on Monday, scoring some of the tightest prints in the market since the first quarter in the process -
Carlyle appoint former Goldman executive as CEO
1 year ago
Carlyle Group have appointed former Goldman Sachs Co-President and CO-Chief Operating Officer Harvey Schwartz as Chief Executive Officer and a member of the board, the firm has announced. -
Asia sets pace for Europe as rally extends in US absence
1 year ago
Credit market investors have resumed their optimistic stance on Monday, buoyed by a weaker US dollar and China reopening its economy after lengthy covid-19 restrictions -
Euro CLO league tables: PGIM and Jefferies lead as Euribor caps come back in fashion
1 year ago
April was the quietest month of the year in the European CLO market with only €2 billion pricing across four new issues and one reset -
Euro CLO league tables: Jefferies takes huge lead as managers bunch up
2 years ago
The increased volatility and geopolitical risk brought about by Russia’s invasion of Ukraine meant European CLO issuance dropped off in March after a strong February -
Market whipsaw sends indices and their constituents in opposite directions
2 years ago
The speed and violence of the credit market's oscillation is causing disruption in index skews, with constituent single names struggling to adjust quickly enough against deepening macro volatlity -
European credit rallies in stark discord with deepening Ukraine crisis
2 years ago
Cognitive dissonance looks to be afoot in the credit market on Wednesday, with indices rallying for a second day even as Russian and Ukrainian spreads move to new wides -
French co rattles investors on micro level as Russia overclouds macro
2 years ago
After a cautious opening, investors in the European credit market have resumed hedging as western leaders continue to talk up the prospect of Russia invading Ukraine and the Kremlin has dismissed hopes of a Biden-Putin summit as premature -
Lev loan index rule change proposed to meet Sofr switch
2 years ago
Leveraged loan index stakeholders are being asked for feedback on a proposal that would allow the inclusion of loans linked to Sofr and scrap a minimum spread rule -
Euro CLO league tables: deal flurry takes Barclays and CVC to the top
2 years ago
The European CLO market machine swatted away any suggestion of a summer slowdown in August with €6.74 billion of issuance coming to market -
Euro CLO league tables: Blackstone back on top while Jefferies extends lead as focus turns to new issues
2 years ago
2021 European CLO issuance crossed €60 billion in July, which is more than the 22 months that preceded this year -
Euro CLO league tables: cramming a year's worth of work in two months
2 years ago
It is no surprise the European CLO market has been experiencing fatigue at times this year with the last two months of issuance alone almost equalling issuance figures for the whole of 2020: last year €22.78 billion worth of European CLOs priced, while in March and April 2021, managers brought €21.48 billion to market -
Travel company CDS soars wider as bond issue converts to concern
3 years ago
TUI, the Anglo-German travel operator, is under pressure in credit and equity markets just it has launched an offering of convertible bonds -
Euro CLO league tables: Refi return spurs European CLOs towards record volumes
3 years ago
A record shattering month as refi wave continues -
KKR pushes for nearly five-year reinvestment as Redding Ridge resets €554 million CLO
3 years ago
The European CLO reset wave is proceeding apace with KKR and Redding Ridge pricing deals on Tuesday -
Triple As could fall to 80bp as Spire markets new issue Euro CLO
3 years ago
Spire is marketing its latest new issue European CLO, named Aurium CLO VII -
Oak Hill pairs with Citi on first new issue European CLO since 2018
3 years ago
Oak Hill Advisors has printed its first new issue European CLO in over two years and its first primary CLO transaction in Europe since a refinancing in 2019 -
Euro CLO league tables: Europe sees a refi-val in repricing
3 years ago
Older deals get a fresh start in the new year -
Global CLO league tables - January 2021
3 years ago
Global CLO league tables - January 2021 YTD -
Skews flip in Europe after IG credit indices lead rally
3 years ago
Credit spreads are budging wider this morning after a relentless rally this week which culminated in iTraxx Main tightening 4.2bp (7.2%) and iTraxx Crossover tightening 18.8bp (5.54%) at the close yesterday -
Europcar hits bumps on the road less travelled
3 years ago
A rough road for Europcar this week has taken its bond and CDS spreads back towards the outer reaches, setting the French car rental firm apart from a general improvement in fortunes for names at the wider end of the market -
OC health check: CLOs pay $1.3 billion on senior tranches as payment dates come due
3 years ago
Senior debt holders received $1.3 billion of principal from CLOs that breached an overcollateralisation test in July, a month in which the majority of scheduled payment dates fell. Of those deals suffering an OC breach, 190 were due to make a payment to noteholders and 57% were within reinvestment. -
Beneath the triple C: CLOs get their sneakers on as retailers run into bankruptcy
3 years ago
July added further relief to CLO portfolios with the slowest rate of downgrades to triple C since March. US CLO portfolios faced downgrades of $2.18 billion to triple C while European portfolios faced just €59.13 million of such downgrades -
Who’s got the moves Europe: CLO managers enjoy climb of Everest
3 years ago
The European S&P/LSTA Leveraged Loan index enjoyed a strong month in April as it rose from 83 of par on 1 April to 89.2 by the end of the month. The index closed at 89.4 on 4 May to start the week
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