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CIFC prices tightest four-year euro CLO since covid sell-off
3 years ago
CIFC Asset Management priced the tightest European CLO with four years of reinvestment post-covid on Thursday, teaming up with Barclays to issue the €368.8 million deal named CIFC European Funding CLO III -
OC health check: CLOs wake up when September ends
3 years ago
September showed a slight but clear improvement in CLOs’ over-collateralisation test results as 182 CLOs breached an OC test during the reporting period, compared to 198 in August. -
CLO pipeline: managers large, small and new ready to price in post-Labour Day surge
3 years ago
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 -
Cut! Cineworld’s cancelled merger boosts CLO OCs
3 years ago
Investors in Cineworld’s $1.9 billion term loan breathed a sigh of relief in July after the UK cinema chain cancelled its merger with Canadian firm Cineplex, with holders repaid in full, according to market sources -
Three years after launch, Rockford Tower joins the elite
3 years ago
The CLO platform launched by King Street Capital Management in 2017 has been crowned Creditflux Manager of the Year -
CLO pipeline: break's over - time to print deals
3 years ago
The CLO market has taken a slight pause after the independence holiday in the US last weekend, meaning the CLO pipeline includes a backlog -
Beneath the triple C: downgrade rate slows as $8 billion of CLO loans tumble
3 years ago
May offered some respite to CLO portfolios as corporate downgrades to triple C were reduced heavily - affecting just $6.67 billion of US CLO paper and €1.09 billion of European CLO portfolios -
OC health check: second European 2.0 CLO reports junior OC breach
3 years ago
33 deals reported overcollateralisation (OC) breaches last week in a relatively quiet reporting period. 314 deals are now reporting OC breaches as of the latest report, according to CLO-i. -
Global CLO b-wic round-up: double Bs lead the way as rally endures and drags equity with it
3 years ago
The CLO secondary market continued its hard rally last week as prices rose across the whole asset class with double B rated CLO bonds leading the charge tighter -
Credit pickers need luck to avoid OC trap
We know what you’re thinking: is my CLO failing its OC test? The truth is, in all this volatility, it can be hard to keep track, unless your deal has high quality liquid loans3 years ago -
Global CLO b-wic round-up: $8 billion of US CLOs listed in record-breaking March
4 years ago
Last week brought an end to the busiest month in both the US and European CLO secondary markets since at least 2014. $7.7 billion of US CLO paper was on sale in March with a further €1.8 billion of European CLO bonds available, bringing the total listed in Q1 to $13.9 billion and €3.6 billion -
Beneath the triple C: mighty CLO buckets from Akorns grow
4 years ago
Rating agencies went on a downgrading spree in February, with Moody’s and Standard & Poor’s cutting 20 corporate names to triple C or below – affecting $2.78 billion of paper in US CLOs and €316.6 million in European CLOs. -
Making arb work of it
4 years ago
In 2019, some CLO managers hoped that good timing would enable them to lock in favourable arbitrage levels, but others opted for aggressive or conservative tactics when building portfolios. -
KKR beats CIFC's European CLO benchmark one day later
4 years ago
KKR Credit brought new issue CLO Avoca XXI via Bank of America last night and in doing so, set a new triple A spread benchmark for European CLO managers of 89bp and a cost of debt of 164.5bp -
CIFC pushes European CLO spreads to new tights
4 years ago
CIFC Asset Management’s second CLO in the European market, CIFC European Funding CLO II, has set a new benchmark for the year as triple A spreads move tighter to 90bp with a cost of debt of 165.6bp. -
Euro CLO league tables: new issues shatter 2018’s record but total issuance falls
4 years ago
The European CLO market continues to grow at a record shattering pace with 2019 new issuance volumes totalling €29.8 billion, an 8% increase on 2018’s previous record figure, from 53 active managers -
Any takers for illiquid European CLO equity?
4 years ago
The investor base for European CLO equity is far smaller than for US CLO equity. But for those with the mandate, and willing to stomach the illiquidity, valuations have been strong this year. -
CLO pipeline: US takes up baton after European July sprint
4 years ago
The US CLO market is ready to kickstart issuance in August as nine deals have been added to the running pipeline. -
Euro CLO league tables: before the holidays is the best time to price a deal
4 years ago
Over €5 billion of new issue CLOs was priced last month, the first time the market ever crossed that monthly threshold -
Euro CLO round-up: returnee CIFC comes full circle, seven years after CLO sale
4 years ago
Having sold a European CLO contract seven years ago, CIFC is back and determined to build on its debut 2.0 European CLO -
CIFC announces four analyst hires in London
4 years ago
CIFC Asset Management says that it has completed phase one of its build-out of a European credit team -
Europe welcomes CIFC after manager prices its debut 2.0 CLO
4 years ago
CIFC Asset Management has made the breakthrough in Europe, pricing its debut 2.0 CLO on the continent today -
CLO pipeline: newcomer emerges with unusual transaction
4 years ago
The US CLO pipeline continues to fill up, with 20 new issue US CLOs featured and another 17 deals set to be refinanced. -
CLO pipeline: deal flow picks up as Amherst and SocGen work on mandates
4 years ago
This week’s CLO pipeline looks very healthy in the US broadly syndicated loans CLO market with Amherst Pierpont and Societe Generale among the firms working on mandates -
CIFC kicks off in Europe as its first CLO on the continent enters marketing stage
4 years ago
CIFC Asset Management has launched its debut European CLO transaction, with eyes to becoming the continent’s fourth debut manager of the year
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