OC health check: CLOs wake up when September ends
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
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
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
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
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
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
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

Global CLO b-wic round-up: secondary CLOs rally but dispersion persists
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
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
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
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
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
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
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
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
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
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

Global CLO league tables - February 2020 YTD
Global CLO league tables - February 2020 YTD

York and Anchorage duke it out with short-dated CLO resets
Two managers have hit the market to price short-dated CLO resets today, with York Capital Management and Anchorage Capital Group looking to meet investor demand for short-term CLO paper

Anchorage lands first bond-flex CLO after Volcker u-turn
Anchorage Capital Group has priced its first new issue bond-flex CLO of 2020

Global CLO b-wic round-up: US CLO equity returns in big way as four control positions hit the market
Over $230 million of US CLO equity went on sale last week via bid lists, the first time these assets have made their way to the secondary market in 2020. It also marks the most US CLO equity listed in a week since at least 2018, according to CLO-i

Anchorage prices second-ever reset in bond securitisation market
Anchorage Capital Group priced a reset of 2015-vintage bond-flex CLO Anchorage Credit Funding 2 on Friday, completing just the second CBO reset in this market’s history

CLO pipeline: no rest for the wicked as new issues hit the market
CLO market participants do not have the luxury of easing their way back to work with the new issue market up and running and a pipeline that is filling up fast 

Anchorage adds high triple-C CLO to its roster after pricing upsized deal
Anchorage Capital Group managed to price its high triple-C CLO before the end of 2019 with market sources indicating the firm issued a $406 million CLO on 23 December