Creditflux

Deluxe decline leaves CLOs feeling deflated
Deluxe looked decent: trading in the 90s for much of this year, with 60% of its term loan sitting in CLO portfolios. But its rapid descent underlines the dangers posed by idiosyncratic events.

Deluxe decline leaves CLOs feeling deflated

The ideal home for a loan

Single B spreads tighten dramatically as Invesco prices third euro CLO
Invesco yesterday brought its third CLO new issue to market via Barclays, according to market sources

Invesco prices largest new CLO in three years
Invesco returned to the CLO primary market yesterday to issue its largest new money transaction in three years, according to market sources

Barclays markets two new issue CLOs in Europe
Barclays is marketing the latest European CLOs for Invesco and Anchorage Capital Group, according to market sources

Past returns: Unfinished business in CLOs
Five years ago in Creditflux we reported that DA Capital was looking for a way back into CLO management. The firm had sold its four US CLOs in 2011 to Citi Alternative Investments (now known as Napier Park Global Capital), but a rally had convinced the firm it was time to issue CLOs again. 

Invesco refinances 2016 CLO and moves to floating rate-only liability structure
Credit Suisse collapses fixed into floating tranches

Euro CLO league tables: May’s refinancings fall just shy of €1 billion
European CLO monthly issuance has stayed roughly level since February what has differed recently though is the volumes of all forms of refinancings.

Euro CLO round-up: after three-year hiatus, two Apollo/Redding Ridge CLOs come along at once
The Japanese bid for CLO triple A notes is taking a break for at least a few weeks, according to market sources, effectively removing a key contributor to the benchmark levels set this year. 

Invesco returns to market with its second 2.0 European CLO
Invesco has priced its second euro CLO after entering the European market in November last year, according to market sources

Market goes green with envy at Invesco's tight Verde CLO print
Invesco marked its return to the CLO primary market on Friday with a $506.44 million new issue named Verde CLO

US CLO round-up: Golub orbits curve as managers double up
A breakthrough regarding Japanese risk retention rules ended last week on a high note for CLOs as the Japan Financial Services Agency has announed that CLOs can sit outside the remits of its securitisation regulations

Invesco unveils "belt and road" debt fund
Invesco has unveiled a new fixed-income Ucits strategy that aims to capture investment opportunities driven by China’s “Belt and Road” initiative

List of debut managers in Europe grows as Invesco crosses the ocean
Invesco has added its name to the list of US CLO managers crossing the Altantic after launching its first 2.0 deal in the European market

Invesco adds two fixed income ETF portfolio managers in London
Invesco has bolstered its European ETF fixed income team with two hires in London

Invesco to convert Canadian bond fund into global credit strategy
The new Invesco Active Multi-Sector Credit Fund will have a global multi-sector approach

Sovereign investors' allocation to alternative credit increase rapidly, finds survey
Sovereign investors are increasing their exposure to CLOs, direct lending and bank loans, according to a 2018 Global Sovereign Asset Management Study published by Invesco this week

Invesco resets 2016 CLO via risk retention fund
Invesco priced a $410.05 million reset of 2016’s Annisa CLO on Friday

Invesco prices second new issue CLO of the month
Invesco’s new issue CLO volumes for the month passed $1 billion yesterday as the manager priced a second deal 

CLO b-wic line-up: $97.5 million of amortising triple As go on sale
$396.1 million worth of notes are up for grabs today in the US secondary CLO market

CLO b-wic line-up: control equity in Investcorp euro deal goes under the hammer again
An investor is looking to sell a control equity position in Investcorp Credit Management’s 2015 European deal, Harvest XI

US CLO round-up: managers find short-dated resets are the way to go
Short-dated resets are popular right now - as are single B tranches

Invesco prices triple As at 108bp in new US CLO
Invesco produced a new US CLO yesterday via Morgan Stanley, according to market sources

Invesco raises $150 million for distressed debt fund
The vehicle, which has a $500 million target size, has raised a total of $146.18 million capital commitments, according to SEC filings