BNP Paribas prices new European CLO as senior prices settle at 170bps
Activity in the European CLO market continued to pick up this week with the printing of a new deal for Spire Partners. 

Oaktree partners with Spire Capital for new special situations fund

Spire Oaktree Special Opportunities Fund will target Australian wholesale investors

CSAM does the CLO awards double
Winning the Creditflux Manager of the Year award is a feat in itself. Winning it back-to-back in such different markets is an outstanding achievement — and CSAM can take great pride in it

CLOs at a glance (June 2022)
A listing of CLOs that have priced in the last month
 
   

Euro CLO league tables: PGIM and Jefferies lead as Euribor caps come back in fashion
April was the quietest month of the year in the European CLO market with only €2 billion pricing across four new issues and one reset

Euro CLO seniors firm up, but mezz widens as Jefferies prints Spire new issue and CSAM reset
Jefferies has expanded its European CLO arranging lead as senior spreads remain in line with recent deals, mezz appears to have leaked slightly wider and deals continue to feature capped tranches

Bank picks up first co-bookrunner mandate on forthcoming European CLO
Jefferies on Tuesday kicked off marketing Spire Partners' latest new issue European CLO, with the bank sole arranger and co-bookrunner on the deal alongside a new entrant

Arb work pays off
With day-one arbitrage alone delivering projected CLO cash-on-cash returns of 20-25%, 2021 may have been the best year ever for equity investors — at least until CLO spreads began to widen  

Euro CLO triple As show signs of succumbing to macro volatility as €1 billion paper prints
Over €1 billion worth of European CLO paper priced on Wednesday with two new issues from KKR and Spire, alongside a reset from ICG

Credit Suisse beefs up European CLO trading with buy side hire
Credit Suisse has run secondary CLO trading – US and European – out of New York for the past few years. But now it has hired a London-based trader

BofA adds to Euro CLO volume with Permira new issue and Spire triple A refi
Bank of America added €635.6 million to its European CLO arranging volume having priced a new issue for Permira and a partial refi for Spire 

"Alongside larger private equity funds, loan volumes will continue to grow"
Spire's Phil Bennett-Britton takes our credit quiz

Siaci €202 million loan to leave CLOs after merger as new debt guided in low 400s
Burrus has outlined price talk on an €850 million loan backing its acquisition and merger with Siaci, a popular CLO credit

Spire opts for unusual reissue of 2016 Euro CLO with capped triple A tranche
Spire Partners has taken the unusual route of reissuing a 2016 European CLO, Aurium CLO II

Euro CLO league tables: out with the old, in with the new as Jefferies leads way
Despite being a newcomer to the European CLO market this year, Jefferies has taken the market by storm and leads the way in overall European CLO issuance

CLOs at a glance (June 2021)
A listing of CLOs that have priced in the last month

Spire European CLO features Euribor caps and tight single As
Euribor caps have made a comeback in European CLOs with Spire Partners' new deal, Aurium CLO VIII, the latest to feature such a tranche

Spire slashes 70bp off CLO funding costs as it upsizes 2020 deal in reset
The London-based manager worked with Bank of America to reset the deal late Friday, upsizing the CLO to €447.7million from €425 million at issuance

Spire inserts triple A loan tranche in European CLO reset
Bank of America arranged the €411.4 million transaction, which includes split triple A, pari-passu tranches in loan and note formats

European CLO leverage hits double-figures
European CLO leverage has increased this year, from an average of 9.4 debt-to-equity in 2020 to 10.3 times in 2021, according to Creditflux data.

Spire achieves highest levered Euro CLO as it matches triple A tights
Spire has priced its latest European CLO, Aurium CLO VII, with the deal’s triple As matching the Euribor plus 83bp 

Triple As could fall to 80bp as Spire markets new issue Euro CLO
Spire is marketing its latest new issue European CLO, named Aurium CLO VII 

New firms are rocking all over the world
Rockford Tower and other small global CLO issuers are showing that you don’t need decades of experience to be successful. It can be better to change the tune rather than repeat the classics