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Napier Park resets 2017 vintage
13 days ago
Napier Park Global reset its Regatta IX Funding yesterday according to market sources, adding four tranches and a fixed-rate coupon -
Napier Park prices second US new issue CLO this year
1 month ago
Napier Park Global Capital priced Regatta XXVIII at the end of last week, a USD 405.20m new issue BSL CLO -
Napier Park gets on board US CLO renaissance
2 months ago
The strong run of new US BSL issues was bolstered further at the end of last week by Napier Park Global Capital, which priced its latest deal, Regatta XXVII Funding, via Société Générale -
Regatta is back in the race with new CLO print
5 months ago
Nomura arranged a new Napier Park Global Capital CLO on Tuesday, titled Regatta XXVI Funding -
Napier Park prints first new US CLO in 12 months with triple As at 190bp
11 months ago
Napier Park Global issued a new CLO on Wednesday, the first US new issue from the manager in just over a year -
Banking volatility seen as opportunity for CLO managers
1 year ago
The CLO investor community gathered in New York in March to discuss the best strategies for managing through the volatility stemming from the regional banking crisis -
CLO M&A hits new heights with anticipated Assured deal
Last year saw a record M&A volume centred on credit asset managers, with a study by Gapstow revealing the total assets under management of acquired firms was $326 billion, compared to $140 billion in 2021. -
Loan amendment alert: Wellpet offers 10bp CSA
1 year ago
Wellpet has issued a loan amendment request with a view to including a 10 basis points credit spread adjustment (CSA), market sources say. Although this is an improvement on recent amendments it still falls short, according to CLO investors. -
Loan managers must act to prevent CSA leakage, say CLO investors
1 year ago
CLO investors have made clear that managers need to stay on top of US loan amendments that are switching benchmark from Libor to Sofr -
Euro CLO league tables: Final whistle beckons in close manager race as Jefferies looks to park the bus
1 year ago
Last month, just shy of €3 billion of European CLO paper was priced in the primary market, the most since March and Russia’s war with Ukraine -
Napier Park prints static European CLO
1 year ago
Napier Park has opted to print a static CLO. The €282 million deal has a one-year non-call period. -
What matters is what you do with it
1 year ago
CLO managers yearn for flexibility so they can take advantage when credit sells off. But it isn’t enough on its own: triple C-flex CLOs saw portfolios erode this year, while CBOs outperformed -
Fund performance: August provides much-needed relief for CLO funds
1 year ago
.August fund performance -
15 CLO managers aim to print European deals as 'aspirational pipeline' forms
1 year ago
European CLO market participants are doubtful the pace of issuance will return to full swing in September, despite a reasonably healthy forward-looking pipeline. -
CSAM does the CLO awards double
1 year ago
Winning the Creditflux Manager of the Year award is a feat in itself. Winning it back-to-back in such different markets is an outstanding achievement — and CSAM can take great pride in it -
You seem familiar
1 year ago
The overlap between European CLOs has risen to 51.6%, but the largest issuers are only slightly more aligned to their peers at 55.19% — so bonds are proving to be an important differentiator -
Hopes of full recovery quashed as credit funds struggle
1 year ago
Optimism about a prolonged recovery after credit hedge funds bounced back in March was dashed as 60% of funds in our database recorded negative returns in April. -
Fund performance: Credit hits another bump in the road after March revival
1 year ago
There was more upheaval for credit funds in April, reversing the mini-recovery in March as 40% of funds made positive returns, a decrease on the 47% in March -
US CLO triple As end week at 154bp as Napier Park and Rockford Tower print deals
1 year ago
Napier Park Global and Rockford Tower Capital Management priced new CLOs on Friday, with each manager printing their triple A notes at 154 basis points over Sofr -
Fund performance: Credit bounces back from February blues
1 year ago
March performance figures were a slight improvement from the market turn in February; 47% of funds made positive returns, an increase on 17% the previous month -
Appetite for CLO warehouse investing increases in Europe
2 years ago
The investor base for European CLO warehouse risk has grown in the past few months, and is supporting the increasing number of CLOs where the equity tranche has come from widely syndicated sources -
Arb work pays off
2 years ago
With day-one arbitrage alone delivering projected CLO cash-on-cash returns of 20-25%, 2021 may have been the best year ever for equity investors — at least until CLO spreads began to widen -
Quarterly rankings: Wave of acquisitions reshapes CLO market
2 years ago
A wave of acquisitions and consolidation hit the CLO market in the first quarter of 2022, although the ripples have yet to alter Creditflux’s manager rankings -
Euro CLO league tables: Jefferies takes huge lead as managers bunch up
2 years ago
The increased volatility and geopolitical risk brought about by Russia’s invasion of Ukraine meant European CLO issuance dropped off in March after a strong February -
First Eagle to buy Napier Park
2 years ago
First Eagle Investments has struck a deal to acquire Napier Park Global Capital, according to an announcement, in a deal which will take the firm’s overall global CLO assets under management up to $29.7 billion.
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