Creditflux

Golub and Wells Fargo open 2020 CLO primary market
Golub Capital Partners has priced the first transaction in the CLO market this year

CLO 2020 outlook: lower volumes predicted, but it’s not all bad news
US CLO issuance is expected to drop by roughly 20% next year, according to bank research desks. This comes after a solid 2019 in which $101 billion of new US CLOs have priced through 92 managers, as Creditflux goes to press

First Eagle completes first CLO transaction following THL buyout
First Eagle Investment Management has priced its first transaction in the CLO market since announcing the acquisition of CLO manager THL Credit Advisors earlier this month

Heavyweight investors poised to step up US CLO allocations
CLO issuance in 2020 could be boosted by the return of two of the asset class’s largest historic investors, sources say.

New GSO US CLO scores tightest funding costs since early October
GSO Capital Partners has returned to the CLO primary market and produced the tightest new issue for over two months

Norinchukin's CLO portfolio decreases for first time in years
Japanese CLO heavyweight Norinchukin posted its financial statements yesterday, where it reported a 1.42% drop from its statements at the end of the second quarter

GoldenTree prices new US CLO and capitalises on weaker market for junior CLO debt
GoldenTree Loan Management has priced its third new US CLO in 2019 in a transaction which appears ideally placed to capitalise on wider junior CLO spreads

Double B CLO spreads drop back to 725bp as BlackRock prices US CLO
CLO double B spreads in the US have gone tumbling back to 725 basis points after BlackRock priced a new CLO yesterday via Wells Fargo

Audax goes for longer reinvestment period with second mid market CLO
Audax Private Debt yesterday priced its second CLO backed by loans to middle market companies, according to market sources

We didn’t take full advantage of volatility

Voya makes it four in a row with $603 million US new issue CLO
Voya Investment Management has notched up its fourth US CLO of 2019 to continue its remarkable record of producing a quartet of CLOs in calendar years

Credit funds at a glance
A round-up of fundraising and people moves in credit

Oaktree prices its largest active CLO via Wells Fargo
Oaktree Capital Management yesterday priced its fourth CLO of 2019 and its third with a deal size over $700 million

Euro CLO league tables: before the holidays is the best time to price a deal
Over €5 billion of new issue CLOs was priced last month, the first time the market ever crossed that monthly threshold

Nochu's CLO holdings up 8% in Q2 while JP Morgan buys even faster
Norinchukin Bank’s CLO portfolio grew another 8% in the second quarter to JPY 8 trillion ($74.12 billion) by 30 June, according to the bank’s latest quarterly report which was released today

Credit funds at a glance

Anchorage's 2019 volumes pass $2.5 billion as it prices US CLO
Anchorage Capital Group on Friday priced its latest CLO offering named Anchorage Capital CLO 11 via Wells Fargo

Steele Creek prices tight of the market with second new CLO of 2019
Steele Creek Investment Managers has priced its latest new issue CLO, with the triple A notes printing tight of the market at 136 basis points

Steele Creek plans second US CLO of 2019
Steele Creek Investment Management is returning to the CLO market for the second time this year with a deal which is being arranged by Wells Fargo

GoldenTree prices second multi-arranger US CLO of 2019
GoldenTree yesterday teamed up with Wells Fargo to price its latest CLO offering named Goldentree Loan Management US CLO 5

Wells Fargo brings in head of IG credit trading
Wells Fargo has hired a head of investment grade credit trading and a credit sales official to its team in the US

Bridge markets fourth CRE CLO
With three prior deals outstanding, Bridge Investments last visited the market in December

Oaktree prices one of the largest new CLOs of the year
Oaktree Capital Management yesterday priced one of the largest new CLOs of 2019, with the transaction coming in at $748.6 million

GoldenTree prices new issue European CLO as continental volumes pass €2 billion
GoldenTree Loan Management priced its latest European CLO offering yesterday as July new issue volumes on the continent passed the €2 billion mark

Mid market CLO league tables: Natixis and Golub reign supreme
June brought just three middle market CLOs pricings with two new issues and one refinancing that totalled $1.6 billion, bringing the year-to-date volume to $9.9 billion. Natixis is the leading arranger, having a hand in 38% of deals