Creditflux

Investcorp prices refi of 2014 European CLO
Since taking over the former 3i Debt Management platform, Investcorp has been an active issuer of CLOs

Boutique manager makes the cut and returns to US CLO market with reset
A 132bp CLO triple-A print is about par for the course for smaller CLO issuers. One such boutique manager has returned to the CLO manager to reset triple As at exactly that level

Canyon prices CLO to make it 60 active US managers in 2017
Canyon Capital Advisors has priced its first US CLO of the year, according to market sources, in a deal arranged by JP Morgan

Crescent joins list of US CLO managers to price triple As below 100bp
The deal sees $434.1 million of the senior debt notes refinanced, with the spread on the triple-A rated notes falling to 98 basis points over Libor

Och-Ziff gives its debut US CLO (another) new lease of life
For Och-Ziff, OZLM Funding is the CLO that just keeps giving

Guggenheim prices new US CLO following earlier refi plans
Morgan Stanley priced a new $600 million US CLO for Guggenheim Partners Investment Management at the end of last week, according to market sources

Combo notes return as Ares prices $1.1 billion CLO
Ares Management has produced one of the largest CLOs of the year after pricing Ares XLIV CLO (or, Ares 44 CLO)

CLO round-up: ICG switches risk retention method as Apollo CMV nears debut
ICG completed a total revamp of a European CLO this week (vertical to horizontal risk retention, and sponsor to originator); BlueMountain set a record for tightest US 2.0 CLO print and Apollo is marketing its first risk retention-compliant US CLO

BNP Paribas goes full circle as it revisits and resets landmark 2013 CLO
What a difference four years makes. Back in 2013 Telos was pricing its first 2.0 CLO with BNP Paribas was earning its first credit as a 2.0 arranger. Both firms have continued to grow their CLO franchises since then, and yesterday they completed a reset of that breakthrough deal

DFG marks US CLO’s reinvestment end date with refi
DFG Investment Advisors has priced a refinancing of a 2013 CLO on the day it reached the end of its reinvesment period

Carlyle chooses refi over reset for 2015 CLO
Currently just eight managers have chosen a refi over a reset for 2015 CLOs, which do not benefit from the Crescent letter exemption for US risk retention rules

US manager works with Jefferies to price first new CLO for two years
The New York based firm teamed up with Jefferies to price its first new CLO since 2015 according to market sources

BlueMountain sets new record for tightest CLO refi print
CLO triple As come in at 89bp for a CLO which has three months of reinvestment capability remaining

TCW completes return to CLO market with $408.6 million deal
Jefferies has continued to build on its relationship with TCW Asset Management by pricing the firm’s first new CLO since 2014

BNP Paribas prices triple As at 121bp for US CLO manager
The $461 million deal features a two year non-call and 5 year reinvestment period

Price talk circulates as Nomura edges closer to pricing CLO for US manager
Price talk has started circulating for a firm's first US CLO in nearly three years

Cincinnati manager opts for L-shaped CLO risk retention strategy
Manager has reset its third CLO of 2017 according to market sources

NIBC refinances its unusual 2013 European CLO
NIBC Bank has returned to the CLO market to refinance a 2013-vintage deal, according to market sources

Carlson goes vertical as it resets its second CLO in two weeks
Latest reset sees 2015 CLO obtain a renewed two year non-call and four year reinvestment period

CLO round-up: refis and resets dominate as pipeline builds
CLO volumes this week have hit $1.9 billion globally, but this has been centred on refis and resets. The new issue CLO pipeline is building however with Ares, Canyon and LCM close to new US CLOs

BNP Paribas AM plans euro CLO return with US-friendly deal
BNP Paribas Asset Management has hit the market with what will be its first European CLO since 2015, according to well placed sources

US manager follows CLO's refi with reset after seven months
Latest reset deal follows the refinancing of senior tanches in October 2016

Cairn strikes at first opportunity to reset 2015 European CLO
Cairn Capital has opted to reset a 2015 European CLO at the first available opportunity

Benefit Street prices second CLO reset in as many months
With CLO 2 experiencing a reset in June, Benefit Street moved on to CLO 3 

Chicago Fundamental continues to favour resets after revitalising 2014 CLO
Chicago Fundamental Investment Partners is now two for two having reset both its US CLOs