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Single Bs set to return to primary euro CLOs as Napier Park markets new issue
3 years ago
Napier Park Global Capital is set to become the first CLO manager to sell a single B-rated CLO since the covid-19 pandemic onset, -
Junior spreads finally tighten as Fair Oaks prices Europe's fifth pandemic-era CLO
3 years ago
Fair Oaks Capital today became the fifth CLO manager to price a new issue amid the coronavirus pandemic -
Delayed issue double Bs reach Europe's CLO market as Fair Oaks markets new issue
3 years ago
Fair Oaks Capital is marketing a new issue European CLO via JP Morgan and has opted for just over a one-year reinvestment period -
Direct lenders eye 200bp premium in primary market
3 years ago
Deal flow is streaming in for European direct lenders who, despite monitoring portfolios for covid-19 related issues, have one eye on the primary market -
Basque-ing in ESG CLOs: Guggenheim prices Bilbao European deal via Citi
3 years ago
Guggenheim Investments has priced the fourth new European CLO of the pandemic era with a €281.65 million deal named Bilbao III -
Global CLO b-wic round-up: equity makes a return as investors search for price levels
3 years ago
Three European CLO equity bonds have traded with colour attached in the last two weeks in the secondary market -
Guggenheim aims at European CLO for its second deal since covid-19 outbreak
3 years ago
Guggenheim Investments is on track to become the second manager to issue CLOs in the US and Europe following the coronavirus outbreak, according to market sources. -
KKR scores tight pricing with Europe's third CLO of the pandemic era
3 years ago
KKR Financial Advisors has priced Europe's third CLO since the covid-19 pandemic and scored the tightest debt execution yet down the capital structure -
European CLO market gets going in a hurry with Redding Ridge three-year deal
3 years ago
The European primary CLO market has gone from being shut for a month to pricing two deals within hours of each other and developing a term curve that is very much in its infancy -
European CLOs make long-awaited comeback with Permira breakthrough
3 years ago
Permira Debt Managers today re-opened Europe's CLO primary market by pricing the continent's first new issue since the coronavirus-related market sell off -
Seven points basis opens up in CLO triple Bs - but Investcorp trades well to defy trend
4 years ago
Triple B rated tranches once again swamped the secondary CLO market yesterday and trading levels suggest the basis between bonds on negative watch/outlook versus those not subject to a downgrade is about seven points -
US and European CLO triple Bs hit secondary market as downgrade fear sets in
4 years ago
Downgrade risk is being priced into triple B-rated CLO tranches, according to market sources, after a wave of mezzanine and junior CLO debt tranches swept onto b-wics yesterday -
Structured credit fund loses 32.4% in March as junior US CLO debt slumps
4 years ago
Volta Finance’s net asset value dropped 32.4% in March, according to a monthly report released yesterday. US CLO debt was the weakest performer for the structured credit fund, managed by Axa Investment Managers, losing 41.3%. -
Secondary CLO debt trades well but Trace suggests CLO equity trading at 12 cents
4 years ago
A variety of CLO paper was in for the bid yesterday with US secondary CLO volumes reaching $281 million, and European volumes hitting €74 million -
Liquidity ends at double Bs as European CLO single Bs struggle in secondary
4 years ago
European CLO single Bs are struggling to clear in the secondary market with sources indicating these positions are valued at about 30 cents -
Unique CLO upsizes to $22 billion
4 years ago
The world’s largest CLO has more than doubled in size to total a whopping $22 billion -
Benchmark European 2020 CLO trades 11 points down in secondary
4 years ago
A senior European CLO investor has flipped €21.9 million worth of notes onto the secondary market, selling eight of nine line items via a b-wic, sources say. Meanwhile, US CLO trading switched from being investment grade focused over the last month to being centred on below IG tranches yesterday: IG volumes reached $574 million versus $926 million for lower rated tranches -
Structured credit dragged very wide — but CLOs stand to gain
4 years ago
Senior tranches of securitisations widened 220% in less than a month as the coronavirus pandemic has meant an increase in systemic risk — a sharp turnaround from the past few months when idiosyncratic risks were being cited as the main concern for structured credit investors. -
SME CLO features PDL mechanism
4 years ago
Details of the groundbreaking Alhambra SME Funding 2019-1 — the first 2.0 CLO backed by loans to small and midsized enterprises — were revealed at the Direct Lending Forum jointly hosted by Creditflux and Debtwire last month. -
‘Hoard credit’ says PM as markets swing
4 years ago
As Creditflux went to press, the covid-19 death toll in Italy surged by 700 after two days of slowing, and the US congress agreed a $2 trillion stimulus package. -
CLOs at a glance: CLO primary market grinds to a halt
4 years ago
A round-up of CLO performance -
Fund perfomance: Slowdown for some as pandemic takes hold
A round-up of fund performance4 years ago -
European CLO triple Bs go from 99 to 73 in less than a month
4 years ago
European CLO mezzanine prices have fallen by almost 30 cents in less than a month, with a b-wic yesterday featuring a 2019 PGIM-managed CLO underlining the dramatic decline -
European CLO triple As bounce back in secondary market
4 years ago
European CLO triple As have begun tightening in the secondary market with sources indicating that by Friday, these notes were trading at 250 basis points, which is down from about 400bp a week ago -
Triple A spreads widen by over 30bp since February as CSAM prices euro CLO
4 years ago
European CLO spreads have blown out to their widest levels in almost four years. Sources say that Credit Suisse Asset Management priced its latest deal, named Madison Park Euro Funding XV, today with the triple As clearing at a blended spread of 122.68 basis points over Euribor
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