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Six triple Bs trade in line with primary as 78-item euro CLO b-wic concludes
3 years ago
All 78 European bonds that appeared on a b-wic yesterday at 9am New York time (2pm UK time) traded with colour - strongly suggesting that the auction represented the unwind of a fund. -
NYL prints five-year reinvestment CLO with triple As at 130bp
3 years ago
New York Life Investment Management has brought the second five-year reinvestment CLO to market and placed its triple A notes at just 130 basis points over Libor -
Barings prices second US CLO in a month
3 years ago
Barings has stepped up the pace of its US CLO issuance, pricing its second 2020 new issue yesterday less than one month after pricing its first -
Four US CLO refis highlight diverging manager strategies
3 years ago
Four US CLO managers - Ares Management, GSO Capital Partners, Marathon Asset Management and Voya Alternative Asset Management - have each refinanced fixed-rate CLO tranches, with the four deals totalling $69 million in paper. But new strategies are beginning to emerge -
Fallen angels push off-the-run index 25bp wide of CDX IG
3 years ago
A gap of over 25 basis points has formed between US investment grade CDX IG and its recently off-the-run predecessor series 34. At Credit Dimensions, Creditflux’s synthetic credit event, panellists highlighted a major shift in composition between index series that has opened up relative value plays between them -
MidCap brings CLO resets back with largest deal since sell-off
3 years ago
MidCap Financial, the direct lending arm of Apollo Global, has priced the first CLO reset since February, teaming up with Wells Fargo to repurpose its 2017 vintage CLO named Woodmont 2017-1 Trust. The transaction is the largest in the CLO market post-covid, coming in at a huge $651.8 million -
CLO reset market set to reopen after eight months as ArrowMark plans deal
3 years ago
ArrowMark Partners is marketing the US CLO market's first reset since February, as the industry takes another step on the path back to normality -
ICG issues first new US CLO in over 12 months
3 years ago
Intermediate Capital Group has printed its first new US CLO in over 12 months, teaming up with Bank of America on the $401.8 million ICG US CLO 2020-1 -
Axa IM completes rare CLO tranche repricing
3 years ago
Axa Investment Managers has completed a rare repricing of the fixed-rate notes of its 2018 CLO Allegro VIII. BNP Paribas arranged the $10.8 million repricing -
Symphony prices unusual refi of CLO three years out of reinvestment
3 years ago
Symphony Asset Management has taken the unusual step of refinancing a tranche of a CLO three years after it left its reinvestment period. The deal, named California Street CLO XII, is a 2013 vintage CLO that exited reinvestment in October 2017 -
Oak Hill breaks post-covid CLO record with 125bp triple A print
3 years ago
US CLO triple As reached new tights last week after Oak Hill Advisors' latest new issue placed its first-pays at just 125 basis points over Libor -
Golub takes CLO series to 50 with first BSL deal of 2020
3 years ago
Golub Capital Partners reached a new milestone last week after pricing the 50th deal in its series of US CLOs -
Voya passes $1 billion US CLO issuance in 2020
3 years ago
Voya Alternative Asset Management has surpassed $1 billion CLO new issuance since the March coronavirus sell off began, joining the ranks of managers to print three transactions in this time -
Barings prints largest post-covid European CLO via Natixis
3 years ago
Barings priced the largest European post-covid CLO on Friday in a €452.8 million transaction named Barings Euro CLO 2020-1 -
AGL cements post-covid US CLO lead with fifth new issue
3 years ago
AGL Credit Management has consolidated its position as the most prolific CLO manager post-covid after becoming the first firm to print five new issues in the US -
Morgan Stanley IM prices first new CLO following Assurant deal
3 years ago
Morgan Stanley Investment Management has issued its first CLO since buying the contracts to four deals previously managed by Assurant -
Anchorage returns to three-year reinvestment structure for latest CLO
3 years ago
Anchorage Capital Group has returned to the market-standard three-year CLO structure for its latest Barclays-arranged deal, Anchorage Capital CLO 16 -
PGIM embarks on European CLO comeback with first deal since early March
3 years ago
PGIM is set to price its first post-covid European CLO as the manager markets Dryden 79 with triple A notes within range of a deal which it priced in early March -
Cerberus ends 10-month CLO absence with tight triple-As
3 years ago
Cerberus Business Finance ends a 10-month absence from middle market CLO new issues by partnering with Natixis to price Cerberus Loan Funding XXVIII -
Morgan Stanley IM markets first CLO since Assurant buy-out
3 years ago
Morgan Stanley Investment Management is marketing its first CLO since buying the management contracts of four deals previously managed by Assurant -
NYL markets five-year CLO with spreads poised to move tighter than Q4
3 years ago
NYL Investors is marketing a five-year reinvestment US CLO with price guidance indicating CLO spreads are tighter than they were during the sell off in the fourth quarter of 2019. However, IG and HY credit are on different paths -
Canyon prints its first reinvesting CLO of 2020 as junior debt tightens
3 years ago
Canyon Capital has priced its second CLO post-covid, and its first reinvesting deal of 2020 -
Aegon matches BlackRock for tightest CLO triple A print since March
3 years ago
Aegon USA Investment Management has priced one of the tightest CLO structures post-covid via JP Morgan, with a triple A note printing at 127 basis points over Libor -
Investcorp markets third 2020 European CLO with triple As guided at 110bp
3 years ago
BNP Paribas is arranging a new CLO for Investcorp Credit Management, marking a first time partnership. The pair expect to price the transaction early next week, with a portfolio that is about 45% ramped as things stand -
Elmwood teams up with Credit Suisse for first time on CLO
3 years ago
Elmwood Asset Management has priced its second CLO within three months, as well as the first CLO in its history to be arranged by Credit Suisse
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