Fidelity and Onex price new CLOs in busiest issuance day for 2023 so far
Fidelity Investments and Onex Credit Partners both priced a new CLO on Thursday, pushing daily issuance volumes to $1.35 billion on the busiest day for US CLO primary activity so far this year

US CLO pipeline: Oak Hill aims for tightest triple As since July, as other CLO markets at 245bp
Nine US CLO managers are in various stages of marketing their latest CLOs, and while Oak Hill is seeking a benchmark-setting deal, there are other CLOs that are expected to price well wide of this

Barclays shifts Euro CLO trading to ABS team with departure
A European CLO trader at Barclays, who took on more responsibility for trading following a keu figure departure, is understood to have parted ways with the bank late last year

US and European CLO metrics diverge, finds Barclays
CLO spreads saw a month-on-month move wider in December while key portfolio metrics such as weighted average rating factor (warf) and triple C buckets deteriorated in the US. However, European portfolio metrics showed some improvement 

Euro CLO league tables: Jefferies wins at a canter as fellow newcomer Palmer Square wins in new issues
A year of turmoil in the CLO market inevitably led to European CLO issuance dropping in 2022 from its record 2021

Silver Point makes CLO debut to become 2022's seventh debut manager
Silver Point Capital became the final manager to debut in US CLO management on 21 December, teaming up with Barclays to print its inaugural deal named Silver Point CLO 1

Guggenheim returns with second new US CLO in two months
Guggenheim priced a second new US CLO in as many months in late December, bringing a striking end to its two-year pause on new issuance

CLO 2023 Outlook: CLOs look set to rise to the challenge of a tough 2023
CLO researchers had an (understandable) inability to accurately predict the staggering array of macro shocks that affected the CLO market this year. So it comes as a surprise that overall CLO issuance reached a lot closer to anticipated levels than many would have expected back in Q2

US CLO investors express cautious optimism for 2023
After a turbulent year in 2022, US CLO investors are sounding a cautiously bullish tone heading into 2023

Major fund withdrawals undermine credit momentum
Credit funds are extending their run of inflows into the end of the year, but investment grade momentum took a dent last week due to investors in one big fund pulling their money

Canyon scores 225bp triple A print on latest CLO
Canyon Partners priced a new CLO on Thursday with the triple A notes printing at 225 basis points over Sofr

US CLO tranches had best month of year in November: Barclays
CLO debt investors enjoyed their best month of returns for 2022 in November, with triple As returning an annualised excess return of 12% and triple Bs returning 37% on the month

Sound Point prints its first new CLO in 11 months
Sound Point Capital Management returned to the CLO primary market on Monday to print its first new CLO in 11 months

Euro CLOs have better 2023 entry point than US in $140 billion issuance year: Barclays
CLO performance and issuance may have to wait until the second half of next year for improvement, say Barclays credit strategists in a 2023 outlook piece. But Europe could fare better than the US given starting levels in a year the market faces some challenging regulatory hurdles

CSAM and CVC take different paths to benchmark 220bp US CLO triple A print
Credit Suisse Asset Management and CVC Credit Partners each came out with a new CLO on Tuesday with senior triple A notes yielding 220 basis points over Sofr, proving the benchmark triple A print for tier one CLO managers is unchanged since October

Bridgepoint set to become 43rd European CLO issuer in 2022
Bridgepoint Credit Management is poised to end a one-year absence from new issue European CLOs with a forthcoming deal expected to price next week

Axa IM claims "more than 15 investors" in new European CLO
Axa Investment Managers says that “more than 15” investors allocated to its static European CLO, Adagio X, which closed on Friday

Outsized corporate rally puts financials RV in focus
The week is ending with resumption of credit’s recent rally after a brief pause, and Europe once again taking the lead over the US

US CLO pipeline: PPM returns to playing field after 14-month absence
Five fresh deals have made their way on to the pipeline this week, including PPM Loan Management company preparing to end its 14-month drought

European outperformance creates index options trading mismatch: Barclays
The recent outperformance of European credit over US has shifted the value of iTraxx index options, but CDX index volatility premiums stand out for having hit a new low

Palmer Square includes senior/junior triple As and delayed draw double Bs in Euro CLO
Barclays arranged the €400.8 million deal, which features a one-year reinvestment period 

Neuberger Berman prints US CLO with senior triple As hitting 220bp benchmark
Neuberger Berman priced a new CLO on Thursday with the deal's triple A notes placing at the current benchmark yield of 220 basis points over Sofr

CLO managers to jump into action as Covanta loan proposal omits spread adjustment
Covanta Holdings is the latest example of a US loan issuer looking to switch benchmark from Libor to Sofr, but without an accompanying credit spread adjustment

CLO triple As face contest with "appealing" US treasuries: Barclays
The challenge of issuing new CLOs has been put into sharper relief, with Barclays strategists arguing US treasuries look attractive versus triple A tranches

CVC and PGIM add to European CLO new issue surge
CVC and PGIM joined Ares, Neuberger and Oaktree in pricing new issues last week