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Three transactions take 2021 CLO refi volumes over $3.5 billion
6 days ago
Another three CLO refinancing transactions priced in the US on Friday, bringing the total volume across refis, resets and reissues in 2021 up to $3.58 billion -
Octagon kicks of 2021 CLO primary with single tranche refi
14 days ago
Octagon Credit Investors has kicked off the CLO primary market for 2021 by refinancing the fixed rate notes of one of its oldest active CLOs, Octagon Investment Partners XV -
2020 wrap: CLO funds bloom despite rocky ground
17 days ago
2020 was a busy year for CLO fundraising, with Creditflux recording at least 30 funds that launched over the 12 months to invest across the CLO capital structure -
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 -
We were battered in 2020 — but we weren’t beaten
1 month ago
The CLO industry has survived a year blighted by covid-19. We talk to portfolio managers about the strengths of CLOs and preparations for what was expected to be a ‘cataclysmic’ recession -
Octagon secures second-tightest funding costs for a three-year CLO
1 month ago
Octagon Credit Investors priced the second-tightest three-year reinvestment CLO post-covid on Friday, teaming with Goldman Sachs on the $481.29 million deal named Octagon Investment Partners CLO 49 -
Relative value has shifted towards CLO double Bs, conference hears
2 months ago
CLO double B tranches are on course for significant spread tightening, according to participants on day one of Creditflux's CLO Investor Summit on Thursday -
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. -
Octagon cements itself as most prolific refinancer of fixed-rate CLOs
3 months ago
Octagon Credit Investors teamed up with Goldman Sachs on Friday to refianance the $10 million double A-rated fixed tranche of its 2017 CLO Octagon Investment Partners 32 -
Octagon reaches milestone with CLO number 50
3 months ago
Octagon Credit Investors reached a milestone yesterday as it priced the 50th deal in its series of CLOs -
CLO pipeline: primary tightening opens door for CLO managers to print new issues
3 months ago
The CLO primary market is hitting a fast pace as it enters the last quarter of 2020. Last week brought a surge of new issuance as 11 US, two European and one mid market CLO manager priced their latest transactions -
Octagon steams ahead with fourth fixed CLO tranche refi since August
4 months ago
Octagon Credit Investors has become the first CLO manager to complete four fixed-rate CLO tranche refinancing or repricing transactions this year, after teaming up with Citi to refinance the double A-rated fixed notes of Octagon Investment Partners 31 -
Octagon prices first single A-only fixed rate CLO refi
4 months ago
Octagon Credit Investors has priced its third fixed-note CLO refinancing amid the coronavirus pandemic, becoming the first manager to complete a single A-only refi in the process -
Octagon scores one of CLO market's biggest coupon cuts with repricing
4 months ago
Octagon Credit Investors has joined the trend of managers looking to reprice CLO tranches. The manager teamed up with Bank of America to reprice the fixed rate debt of Octagon Investment Partners 27 in a $22.5 million transaction -
Fortress and Octagon add to 2018 fixed-rate CLO refi trend
5 months ago
Another two CLOs refinanced their fixed rate debt tranches on Thursday, bringing the total refi activity in the last two months to 15 transactions -
Octagon prices CLO with lowest funding costs since covid-19 outbreak
5 months ago
Octagon Credit Investors priced the tightest three-year CLO since the coronavirus-triggered sell-off on Wednesday, with the firm's latest transaction, named Octagon Investment Partners 48, printing at a weighted funding cost of just 200.01 basis points over Libor -
CLO pipeline: AGL aims high as it prepares fifth new issue of 2020
5 months ago
US CLO managers are sensing opportunities in the CLO market either via new issue CLOs or by refinancing the fixed-rate tranches in their legacy deals -
Trading places: it can pay to bet on the little guy
6 months ago
It’s assumed investors know how good a CLO manager is by the rate at which they trade their way through a crisis. But this time fi ve small, nimble managers are outperforming the market -
Loan slump brings managers closer
6 months ago
A 19% slide in new US loan volumes last year has left CLO managers with fewer options in the primary market, and portfolio overlap between US managers has increased to 35.3% on average -
Loan slump brings managers closer
A 19% slide in new US loan volumes last year has left CLO managers with fewer options in the primary market, and portfolio overlap between US managers has increased to 35.3% on average -
Octagon becomes third manager to exceed $500 million with CLO amid covid
6 months ago
Octagon Credit Investors has become only the third manager to price a new issue CLO larger than $500 million following the outbreak of covid-19 -
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 -
OC health check: second European 2.0 CLO reports junior OC breach
7 months ago
33 deals reported overcollateralisation (OC) breaches last week in a relatively quiet reporting period. 314 deals are now reporting OC breaches as of the latest report, according to CLO-i. -
Rapid CLO M&A activity on the horizon as fee deferrals pick up
7 months ago
A flurry of M&A deals could soon sweep the CLO market as management fee deferrals become an increasing pressure point for small CLO managers -
A different kind of crisis
7 months ago
Panellists on Creditflux’s US CLO webinar were positive about the robustness of CLO structures and the role of cure contributions. But they warned about zombie defaults and gaming tests
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