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European CLO triple As circle early 2020 levels as Redding Ridge and Anchorage enter market
4 days ago
European CLO triple A spreads are set to drop to low to mid 90s with Anchorage and Redding Ridge marketing new issue deals -
CLO issuers flex their bond muscles
1 month ago
Some panellists at Creditflux’s US CLO Investor Summit pointed to structural difficulties, but the consensus was that flexibility — particularly the ability to buy bonds — could improve performance -
Ares/Crestline CLO overlap jumps to 60% following Ares takeover, Fitch says
1 month ago
CLO acquirers have been busy converting purchased portfolios to their house-style, according to research by Fitch -
LP round up: Arcmont, Ares and Sixth Street win European direct lending mandates
1 month ago
Investors have allocated around $2 billion to credit funds in recent weeks, according to board documentation seen by Creditflux. Among those to recieve allocations include ADM, Arcmont, Ares, Audax, Bain, Centerbridge, Clearlake, Goldman Sachs merchant banking, Invesco, Monarch, Oaktree, Raven, Sixth Street and Sound Mark -
Global CLO b-wic round-up: Secondary markets rally despite ‘worst liquidity seen all year’
2 months ago
An adjournment in the US for Veterans Day last week still left plenty of time for the CLO secondary market to rally, thanks to Pfizer's covid-19 vaccine breakthrough and a firmer indication of the US presidential election results -
Global CLO league tables - October 2020 YTD
2 months ago
Global CLO league tables - October 2020 YTD -
Elements work against CLO managers in Q3
2 months ago
CLO equity distributions fell in Q3 largely due to factors, such as Libor mismatches, that CLO managers can’t control. But these headwinds could turn in favour of managers in the near future -
OC health check: CLOs wake up when September ends
3 months 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: fixed income giants plan debut 2.0s with Morgan Stanley
3 months ago
Two large fixed income managers are pre-marketing debut 2.0 CLOs -
Anchorage mixes it up with unusual 'partial reset' of US bond-flex CLO
3 months ago
Anchorage Capital Group has become the first manager to partially reset a bond-heavy CLO -
Senior bond-flex CLO tranches are 'cheapest bonds within securitised products': BofA
3 months ago
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 -
Anchorage returns to three-year reinvestment structure for latest CLO
3 months ago
Anchorage Capital Group has returned to the market-standard three-year CLO structure for its latest Barclays-arranged deal, Anchorage Capital CLO 16 -
Anchorage prices first-of-its-kind bond flex CLO refi
4 months ago
Anchorage Capital Group has taken the unusual step of refinancing three tranches of its 2018 vintage CBO named Anchorage Credit Funding 5. Creditflux data shows the deal to be a first-of-its-kind transaction -
Anchorage prices first five-year CLO structure since March
4 months ago
Five-year CLO structures have returned for the first time since the coronavirus outbreak, thanks to a bond flex deal issued by Anchorage Capital Group -
Creditflux awards supplement shows how 2018 CLOs have outperformed
4 months ago
Creditflux is unveiling its CLO Manager Awards supplement today, shedding light on how CLO statistics are varying across vintages. The report finds that 2018 CLOs have been among the best performing of the last decade, capitalising on low financing costs to produce the highest equity distributions -
Global CLO b-wic round-up: secondary CLOs rally but dispersion persists
5 months ago
The US CLO secondary market rallied, and spreads compressed last week, but there are still several outliers -
Investors spy opportunities in CLOs subject to negative rating action
6 months ago
Rating agency downgrades come into play in Thursday's secondary market for CLOs, with a $15 million b-wic at 10am New York time highlighting how double and single B spreads have moved in opposite directions through July -
Anchorage prints its first loan-only CLO in a year
6 months ago
Anchorage Capital Group has priced a new $341 million CLO via Citi, the manager's first new issue following the coronavirus outbreak -
CLO pipeline: manager prepares crowning return as primary market gets busy
7 months ago
CLO secondary prices have rallied hard in recent weeks, providing impetus for the new issue deal pipeline to fill up quickly. But one surprise is that Western Asset Management has chosen this moment to return to the primary CLO market, after several years' absence -
Global CLO b-wic round-up: double Bs lead the way as rally endures and drags equity with it
7 months 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 -
Anchorage explores possibility of first five-year CLO structure post-coronavirus
7 months ago
Anchorage Capital is testing the waters for the first five-year reinvesting CLO structure since the pandemic-led downturn -
CLOs hold $189.3 million of J Crew as coronavirus pushes firm into bankruptcy
8 months ago
12 CLO managers hold $189.3 million debt of US retailer and household name J Crew (parent company Chino Holdings), which filed for Chapter 11 in the US Bankruptcy Court for the Eastern District of Virginia on Monday -
Global CLO b-wic round-up: spreads tighten across the board as bond-flex CLOs trade well
9 months ago
Price levels have tightened and, more importantly, stabilised across the secondary CLO market over the last two weeks, but the Easter break led to a drop off in CLO b-wic supply -
Garrison exits CLO management after selling contracts to credit manager
9 months ago
Garrison Investment Group is exiting the broadly syndicated loan-backed CLO management business after selling three management contracts to Anchorage -
Global CLO b-wic round-up: CLO triple As recover but mezz left behind
9 months ago
The CLO secondary market was a tale of two halves last week. 100% of all bonds listed in b-wics on Monday and Tuesday had no covers released (either traded or did not trade), but the end of the week was a different story for both markets
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