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It's all relative: CLO spreads explore record tights as credit indices hit impasse
3 years ago
CLO spreads are grinding to ever tighter levels, despite a flattish week for credit in which corporate credit indices have ended up more or less unchanged -
CLO equity record broken again as Blackstone European deal trades over 116
3 years ago
Within eight days of Redding Ridge Asset Management setting a record for the highest cover on a European CLO equity bond, Blackstone Credit has brushed it aside to claim top spot -
Triple As could fall to 80bp as Spire markets new issue Euro CLO
3 years ago
Spire is marketing its latest new issue European CLO, named Aurium CLO VII -
Invesco Euro CLO refi cuts 41.5bp from financings costs
3 years ago
Invesco has refinanced the four most senior tranches of its inaugural 2.0 European CLO. JP Morgan cut financing costs on Invesco CLO I by 41.48 basis points -
Oak Hill pairs with Citi on first new issue European CLO since 2018
3 years ago
Oak Hill Advisors has printed its first new issue European CLO in over two years and its first primary CLO transaction in Europe since a refinancing in 2019 -
Palmer Square prints first reinvesting European CLO
3 years ago
Palmer Square Capital Management has printed its first ever reinvesting European CLO, following the issuance of two static CLOs since it debuted in the continent in August -
PGIM resets Dryden 44 and switches from six-month to three-month Euribor
3 years ago
JP Morgan has arranged the reset of PGIM's 2016 vintage Dryden 44, switching paying liabilities from semi-annual basis to quarterly -
Basis between resets and new issues collapses as CVC prints Euro triple As at 83bp
3 years ago
CVC has reset and upsized a 2014 vintage European CLO, CVC Cordatus Loan Fund IV -
It's all relative: CLOs are lagging no more, as Carlyle deal drags market tighter
3 years ago
“CLOs are lagging” has been a much repeated refrain over the last nine months. But Carlyle Group has this week produced a US CLO that has dragged spreads to their tightest point in three years so that, rather than comparing CLOs to pre-covid levels, they should be assessed against early 2018 -
Investcorp preps first CLO refi in Europe with triple and double Bs since 2019
3 years ago
Investcorp Credit Management is working with Deutsche Bank to refinance six tranches of its 2018-vintage CLO named Harvest XVI -
Anchorage prices first new European CLO since 2019
3 years ago
Anchorage Capital Group has returned to the European CLO primary market with its first new issue since 2019 -
Redding Ridge equity covers at 116 for new European CLO record
3 years ago
Redding Ridge Asset Management set a new record on Wednesday as €5.2 million of RRE 4, a 2020 vintage CLO, traded in the secondary CLO market with a cover of 115.8 -
Direct lenders say coronavirus storm enables them to show benefits of bespoke lending
3 years ago
European credit managers are bracing themselves for setbacks after a new set of lockdown and curfew measures kicked off 2021 on the continent -
CLOs at a glance (February 2021)
3 years ago
A listing of CLOs that have priced in the last month -
Blackstone sets reset benchmark as it reworks 2016 European CLO
3 years ago
Blackstone Credit has become the third manager to reset a European CLO in 2021 -
It's all relative: senior CLO tranches tighten 18% in Europe as CDS indices sit out rally
The corporate credit rally in January is notable because some assets tightened to levels not seen in over a decade (loans), others rallied albeit with a lag (CLOs) and the most liquid stream of credit (CDS indices) defied moves in other asset classes to widen
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Neuberger Berman breaks through into European CLOs
3 years ago
Neuberger Berman has become the latest debut in the European CLO management, the 20th manager to do so since 2018 -
European CLO trades wide in secondary amid CLO risk retention issue
3 years ago
A European CLO manager has been caught in a rare situation owing to risk-retention compliance for its 2015-vintage Euro Galaxy IV – and CLO traders have factored this in the secondary market -
European CLO triple As go tighter still as KKR prints at 83bp
3 years ago
Triple A spreads ground tighter in January with KKR’s latest European CLO -
January European CLO volume shoots to €2.9 billion as Five Arrows refis 2017 deal
3 years ago
It has been a busy start to the year for European CLO investors, despite new issues having been slow to get going. Five Arrows is the latest manager to take advantage by refinancing a 2017 vintage CLO - Contego CLO I -
European CLO mezz tightens as Napier Park prices
3 years ago
Napier Park priced its fourth European CLO today, Henley CLO IV, which has notched up the second-tightest cost of debt since March - and tightest for a deal with single B debt -
HPS refis European CLO triple As at 64bp with six months of reinvestment left
3 years ago
HPS Investment Partners has refinanced its inaugural European CLO, Aqueduct European CLO 2017-1 -
US looks for stronger open after sell off
3 years ago
US credit is opening slightly stronger on Thursday, after its sharp Wednesday rout, prompted by Federal Reserve messaging, carried over forcefully into Asian and European markets -
BlueMountain Fuji refis European CLO with triple As at 65bp
3 years ago
The Assured Guaranty subsidiary has refinanced four tranches of BlueMountain Fuji Euro CLO II via JP Morgan -
Goldman markets refinancing of HPS's debut European CLO
3 years ago
Goldman Sachs is marketing a refinancing of HPS Investment Partners’ debut European CLO
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