MJX prints first reinvesting CLO of the year
MJX Asset Management has become the first CLO manager to print a reinvesting new issue transaction in 2021, teaming up with Jefferies as lead arranger and Bank of America as co-arranger on the $507.3 million deal, named Venture 41

Full circle for credit as investors navigate stormy year-opener
Credit is ending 2021's politically tumultuous first week tighter in cash bonds and flattish in CDS spreads, but performance has noticeably lagged more emphatic improvements in stocks, commodities and the record-hitting Bitcoin

Bet on beta compression - except in sub fin CDS, say BofA strategists
Beta compression will be a dominant theme in 2021 for high yield versus investment grade CDS and bonds, financial versus non-financial credit and subordinated versus senior financial bonds, say Bank or America strategists in a research note. Short volatility positions are also attractive, they add, while cautioning sub versus senior financial CDS could buck the trend

CSAM refis fixed-rate notes from 2018 CLO
Credit Suisse Asset Management has tapped the CLO primary market to refinance the fixed-rate notes of its 2018 vintage deal, Madison Park Funding XXXI

Nuveen hits US market tights with CLO and takes 2020 volume to $1.2 billion
Nuveen has priced the third US CLO on its Symphony platform of 2020, bringing its volume for the year to $1.22 billion

Lower mezz grinds tighter with Blackstone's first European CLO since rebrand
Blackstone Credit has priced its first European CLO since it rebranded from GSO Capital Partners last month. Bank of America arranged the new €323.5 million deal, named Marino Park CLO

Alcentra returns to European primary CLO market after 13 months
Alcentra has priced its first European CLO new issue this year following a 13 month hiatus. Bank of America arranged the €303.1 million transaction

Allstate rides US CLO rally with super-tight new issue
Allstate Investment Management Company has printed a new CLO named AIMCO CLO 12 as liability tranches continue to rally

CLO pipeline: LCM switches arranger to complete deal and join issuance surge
Over $3.5 billion of global CLO issuance priced last week and managers in all three CLO markets are taking advantage of tightening spreads across the capital structure after three major covid-19 vaccine breakthroughs and increased confidence since the US presidential election

Ares rides vaccine rally to price tightest three-year US CLO
CLO primary spreads have tightened dramatically after Ares Management priced its first US new issue post-election, with weighted funding costs of just 167.38 basis points over Libor

Onex targets high yield bonds after bumper year of US bond issuance
Onex Credit is fundraising for Onex High Yield Bond Fund, according to SEC filings seen by Creditflux

BofA sees fruits of its labour after rebuilding macro credit and index businesses
Bank of America is among the dealers that is revelling in the re-emergence of relative value credit trading this year with the bank's index tranche and index trading volumes up roughly 85% and 70% this year

Audax brings mid market CLOs under management to $1.5 billion
Audax Private Debt has brought its CLOs under management up to $1.5 billion after pricing its fourth new issue deal via Bank of America

CLO pipeline: deal flow slows ahead of US election
Only two forthcoming new issue US CLOs have been added to the pipeline this week as the election slowdown hits credit markets. This comes after eight new issue US CLOs and five European CLOs have priced over the last ten days during the pre-election rush

Senior bond-flex CLO tranches are 'cheapest bonds within securitised products': BofA
Triple A-rated notes of bond-flex CLOs are 'one of the cheapest bonds within securitised products', according to a new research paper by Bank of America

Dealers power up as tranche trading hits new heights
A big year for index tranche trading has taken volume within grasping distance of full-year 2019, a post-financial crisis record, with a deepening pool of dealers adding support

Zais becomes sixth CLO manager to reprice a fixed-rate tranche
Zais Group has joined the exclusive list of CLO managers to reprice fixed-rate debt

Voya and ArrowMark refinance fixed triple A CLOs
Voya Investment Management and ArrowMark Colorado Holdings have each refinanced triple A-rated fixed CLO tranches. The two transactions both priced yesterday and total $29.5 million

Redding Ridge prints third European CLO since March sell-off
Redding Ridge Asset Management has priced its latest European CLO named RRE 5

ICG issues first new US CLO in over 12 months
Intermediate Capital Group has printed its first new US CLO in over 12 months, teaming up with Bank of America on the $401.8 million ICG US CLO 2020-1

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

CLO triple As tighten to 138bp as Bain prices new issue
Bain Capital Credit has priced its third new CLO of 2020 with a record-breaking 138 basis points triple A spread

Octagon scores one of CLO market's biggest coupon cuts with repricing
Octagon Credit Investors has joined the trend of managers looking to reprice CLO tranches. The manager teamed up with Bank of America to reprice the fixed rate debt of Octagon Investment Partners 27 in a $22.5 million transaction

High yield inflows return as appetite moves to long end
A heavy slant in preference for investment grade credit has been underscored by high grade funds recording their 20th week of inflows in a row, but high yield funds are also back to positive flow for the first time in three weeks on returning European appetite

Euro CLO league tables: Apollo blasts its way to top spot
July marked the largest month of European CLO issuance since coronavirus pandemic-induced volatility hit financial markets