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Silver Rock becomes third debut US CLO manager of 2020
3 years ago
The world welcomed a new CLO manager into the market yesterday as Silver Rock Management issued an inaugural transaction via Citi -
Anchorage mixes it up with unusual 'partial reset' of US bond-flex CLO
3 years ago
Anchorage Capital Group has become the first manager to partially reset a bond-heavy CLO -
Senior bond-flex CLO tranches are 'cheapest bonds within securitised products': BofA
3 years ago
Triple A-rated notes of bond-flex CLOs are 'one of the cheapest bonds within securitised products', according to a new research paper by Bank of America -
Euro CLO round-up: fluctuating spreads give mixed signals
3 years ago
Last week was one of the European CLO market’s busiest since the coronavirus crisis began, as four managers brought new deals to market – adding €1.35 billion -
US CLO round-up: New Mountain gives a peek at better times
3 years ago
CLO primary issuance has produced healthy volume over the last few weeks with new issue paper totalling $7.9 billion since 21 September. -
Chicago-based manager returns to CLO primary with first new issue for 17 months
3 years ago
PPM Loan Management has staged a CLO primary comeback by printing its first new issue deal in just over 17 months -
First Eagle refinances partially paid-down senior CLO tranche
3 years ago
First Eagle Investment Management has teamed up with Citi to refinance a triple A-rated fixed CLO tranche that has been partially paid down -
Euro CLO primary mezz snaps wider but senior holds firm as Ares and PGIM print
3 years ago
Fears around a second wave of coronavirus pandemic have pushed European mezzanine spreads wider since September, with new CLOs from PGIM and Ares Management underlining this shift -
Four-year CLOs return to Europe as CBAM makes breakthrough
3 years ago
Citi returns to the European CLO market after a six month hiatus, while CBAM delivers Europe's first four-year CLO post covid -
Elmwood preps first reinvestment-extending CLO reset since sell-off
3 years ago
Elmwood Asset Management, the CLO manager linked with Elliott Management, is on track to reopen the US CLO reset market officially. The firm is planning a five-year reset of its inaugural CLO from 2019, Elmwood CLO I, with Citi overseeing arranging duties -
CVC shaves 13bp off 2015 CLO's funding costs after single tranche refi
3 years ago
CVC Credit Partners has teamed up with Barclays to refinance the fixed-rate notes of its US CLO named Apidos XX -
European CLO leverage battered
Average leverage in European CLOs has dropped to 8.1 times debt to equity since April3 years ago -
CLO rally keeps primary market flowing for most prolific issuers
3 years ago
The rally in CLO liabilities in September has given fresh impetus to the primary CLO market, which has benefitted from almost six months of favourable market dynamics -
Lagging CLO triple Bs draw investors
3 years ago
Senior US CLO spreads have retreated to their pre-pandemic levels, but triple and double B spreads have lagged - and those wider spreads are attracting new investors into the asset class -
Relative value plays swell secondary
3 years ago
The secondary CLO market has been revived this year as volumes shatter 2019 totals. Investors are finding that secondary values outweighs that in primary, with the added bonus of full portfolio disclosure -
Credit spreads wind back to February to bring shorts into focus
3 years ago
The credit rally since April has opened up an opportunity to go short credit, say fund managers, with spreads back to where they were in late February -
CLOs at a glance
3 years ago
A listing of CLOs that have priced in the last month -
Investors sell downgraded CLO tranches as single Bs widen sharply
3 years ago
Four CLO tranches downgraded during the third quarter are featured on a b-wic today that concludes 11am New York time, offering investors a chance to cash in on the recent spike in junior CLO spreads -
Long awaited comeback as ArrowMark brings first CLO reset since Q1
3 years ago
ArrowMark Colorado Holdings has reopened the market for CLO resets after pricing the first in more than eight months -
Investcorp completes second largest European CLO since March sell-off
3 years ago
Investcorp has upsized its latest European CLO since marketing, with the manager pricing a €419.6 million transaction -
Octagon reaches milestone with CLO number 50
3 years ago
Octagon Credit Investors reached a milestone yesterday as it priced the 50th deal in its series of CLOs -
Zais becomes sixth CLO manager to reprice a fixed-rate tranche
3 years ago
Zais Group has joined the exclusive list of CLO managers to reprice fixed-rate debt -
BlackRock cuts CLO double A coupon with fixed-rate refi
3 years ago
BlackRock has priced a fixed-rate CLO tranche refinancing, teaming up with Mizuho to cut the coupon on the double A notes of Magnetite XII -
New Mountain becomes first CLO debutante since March sell off
3 years ago
New Mountain Capital has become the first debut US CLO manager to issue an inaugural deal post-covid, after teaming up with Wells Fargo to price the $348.7 million New Mountain CLO I yesterday -
Sixth Street prices first CLO following split from TPG
3 years ago
Sixth Street Partners has priced its first CLO under its own moniker. Named Sixth Street CLO XVI, it follows Sixth Street's split from private equity parent firm TPG in May this year
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