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US CLO refinances with 110bps senior spread
7 days ago
Spreads on US refis hit a new yearly tight on Friday, when KKR refinanced one of its 2013-vintage deals -
Blackstone refinances 2018 US CLO
15 days ago
Blackstone rounded off last week with a partial refinancing of its 2018-vintage Harbor Park CLO, arranged via Morgan Stanley. -
Fund performance
19 days ago
In February, CLO funds once again claimed the majority of top positions in our fund ranking — this time taking eight of the top 10 spots (see table below). -
US CLOs get welcome boost as major name returns to single B
21 days ago
CLO mangers received a welcome boost last week after S&P Global Ratings upgraded an arts and craft retailer rating to B- from CCC+- on Friday, citing “significant improvement” in operating margin and cash generation. -
Now we're at 150bps as new US BSL CLO prices
3 months ago
GoldenTree Asset Management has become the first manager to hit a 150bps spread on a new non-static US CLO since the first half of 2022, with its pricing of GoldenTree Loan Management US CLO 19 -
CLO market round-up: holiday cheer hits as US senior spreads move in
4 months ago
The holiday period saw a brace of end-of-year US deals pricing, with a range of new issues, resets and a refi to lead the market into 2024, and senior spreads move firmly back in the 160s. -
2022 vintage CLO generates record European IRR as loan prices rally
4 months ago
While most managers have reset 2022 CLOs, Apollo-affiliated Redding Ridge took a different route. It called RRE 14 CLO, achieving the highest IRR of any European CLO -
Scotia adds middle-market lead arranger credit with new Guggenheim CLO
5 months ago
Fresh off the back of its first CLO as sole structuring and lead placement agent, Scotiabank has followed up almost immediately with its second lead role in as many days, arranging Guggenheim’s new USD 475m middle-market CLO -
European structured finance market constructive on rates pause — market snapshot
5 months ago
European ABS and CLOs had a constructive week in the secondary market, reflecting better sentiment in broader credit -
DebtDynamics EMEA | Under pressure: likely-to-distress scores highlight struggling industries and regional woes
6 months ago
The European leveraged market has crossed the threshold of 100 companies at the stressed/distressed lifecycle stage, according to Debtwire data -
Structured finance secondary market quiets down as volatility intensifies
6 months ago
Secondary market activity in European structured finance was subdued this week, in the wake of further market volatility sparked by the Israel-Hamas war -
Credit PMs predict global recession
6 months ago
Respondents to the latest IACPM credit outlook survey were feeling particularly gloomy, with a strong majority predicting recessions in both the US and Europe next year -
Packers’ recovery chances debated amid industry-wide child labor investigations
6 months ago
A popular CLO credit, Packers Sanitation Services (PSSI), made the news last week in Debtwire -
CLO funds are hot in summer as they take nine spots in top 10 (Fund performance)
8 months ago
CLO funds took the lead through summer as the returns of the category index reached 1.88% and 3.18% in June and July, respectively. Both months saw a CLO fund as the top performer — Sound Point Meridian in June, and Oxford Gate Master Fund in July. -
Monthly new US CLO volumes highest since May as MJX prices new deal
8 months ago
US new CLO volumes for August surpassed $6 billion on Friday after MJX Asset Management priced its second deal of the year named Venture 48 -
Investcorp prints first new CLO in over 12 months
9 months ago
Investcorp returned to the European CLO primary market on Thursday with its first new issuance in over a year -
DebtDynamics North America: Likely-to-distress scores highlight struggling industries
9 months ago
Out of a universe of more than 12,000 leveraged US companies, 180 are in the stressed/distressed lifecycle categories -
Primary loan and bond markets shows signs of revival, but at a cost
9 months ago
Activity in the US junk debt market has picked up after the 4th of July and the momentum is expected to continue through 2H23, but at a cost for issuers. -
Nassau prints first reinvesting CLO in Europe in 40 days
9 months ago
Nassau Corporate Credit priced the first reinvesting CLO in Europe in 40 days on Wednesday -
1H23 CLO issuance rankings
9 months ago
Our latest set of CLO issuance rankings for the first half of 2023 showcase the most active CLO arrangers, managers, lawyers and trustees over a challenging six months. -
June 2023 US Leveraged Highlights
9 months ago
Debtwire has released the June 2023 US Leveraged Highlights, featuring key trends in the leveraged loan and high yield bond markets. -
May 2023 European Leveraged Highlights
10 months ago
High yield bond refinancing dominates a weak market according to Debtwire's May 2023 European Leveraged Highlights, featuring key trends in the leveraged loan and high yield bond markets. -
Japanese investors and ETFs bid up CLO triple As as US banks cool off
10 months ago
CLOs saw healthy demand from Japan in the first three months of the year, with Japan Post Bank and Norinchukin each increasing investments in the asset class. Japan Post’s CLO holdings stood at JPY2.3 trillion ($17.51 billion) as of 31 March, an increase of $550 million in the quarter and up 32.7% on the year prior. Nochu added $110 million to JPY6.4 trillion ($48.2 billion), or 13% of the bank’s investment portfolio. -
Low warehouse balances show CLOs bracing for volatility
10 months ago
A record number of CLO warehouses are open but contain record low balances, according to several market sources. The figures indicate that CLO managers and equity investors are preparing for a sell-off in the loan market in the latter half of 2023. -
Global CLO league tables - May 2023 YTD
11 months ago
Global CLO league tables - May 2023 YTD
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