CLO Markets
All Update archive
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EU CLO roundup - November 2022
*EU new CLO issuance reaches €3bn in November*SG co-arranges first EU CLOs since GFC, showing readiness to deploy its balance sheet for clients, says Societe Generale&r ............
1 December 2022
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US new issue triple-As could widen to 250bp in H1 2023
Barclays credit analysts expect CLO spreads to widen further in 2023, and issuance to be fairly muted in the first half of the year before recovering in the second half. ......
1 December 2022
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EU CLO issuance of €22bn "feasible" in 2023
BofA CLO strategists think that €22bn of new European CLO issuance in 2023 is "feasible". In a pessimistic scenario, issuance would be as low as €15bn; in an optimistic scenario, ......
1 December 2022
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Tools to boost recoveries on defaulted assets may be tested in next cycle
The coming default cycle may test the notion that the ability to purchase assets in workout scenarios will increase CLOs' recoveries on defaulted assets, according to Moody’s Investors Serv ............
30 November 2022
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CLO Markets US Deal Alert – 30 November 2022, 10.00 UK time
BofA is marketing Rockford Tower CLO 2022-3, a US BSL CLO managed by Rockford Tower Capital Management. The deal has 1.5NC/3RP term structure. Pricing is targeted for next week, according ......
30 November 2022
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CLO Markets Daily – 29 November 2022
*US new issues: CVC Apidos CLO XLII priced after $50m upsizing US PRIMARY MARKET CVC CVC Apidos CLO XLII, a US BSL CLO, priced today via Barclays. The de ......
29 November 2022
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CLO Markets US Deal Alert – 29 November 2022, 19.00 UK time
CVC Apidos CLO XLII, a US BSL CLO, has priced via Barclays. The deal has been upsized by $50m. The senior triple-As priced at SOFR+220bp (no guidance was available). The ......
29 November 2022
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CLO Markets Daily – 28 November 2022
*Softer tone in EU secondary market *KBRA finds it “hard to envision additional material spread widening” for EU CLOs given current wide levels SECONDA ............
28 November 2022
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CLO Markets Daily – 25 November 2022
*EU new issues: Bridgepoint CLO IV and Nassau Euro CLO II expected to price next week *EU investment-grade spreads grind tighter; low mezz stall*ESG Scores are similar amon ............
25 November 2022
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CLO Markets EU Deal Alert – 24 November 2022, 11.30 UK time
Initial priced thoughts are circulating for Bridgepoint CLO IV, a European CLO of €360.4m managed by Bridgepoint Credit Management Ltd, according to investors. Pricing is targeted f ............
24 November 2022
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CLO Markets Daily – 23 November 2022
*EU new issues: Onex’s OCP Euro CLO 2022-6 priced EUROPEAN PRIMARY MARKET OnexOnex Credit Partners’ OCP Euro CLO 2022-6 priced late ............
23 November 2022
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CLO Markets EU Deal Alert – 23 November 2022, 20.50 UK time
Onex Credit Partners’ OCP Euro CLO 2022-6 has priced via Citi and NatWest Markets (joint arrangers and placements agents). The deal is static. Proceeds from sales of Credit Risk Ob ......
23 November 2022
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CLO Markets US Deal Alert – 22 November 2022, 21.45 UK time
Capital Four US CLO III has priced via Goldman Sachs. The triple-As priced at SOFR+250bp. A D2 tranche has been added to the structure. The target par amount is $400m ......
22 November 2022
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CLO Markets Daily – 22 November 2022
*EU new issues: Bridgepoint 4 marketed*JPMorgan analysts raise 2023 US CLO issuance forecast to $120bn ($115-125bn range) from $100bn ($95-105bn) set on 13 October. European CLO supply is ex ............
22 November 2022
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2023 CLO issuance forecast raised
JPMorgan analysts have raised their 2023 US CLO issuance forecast to $120bn ($115-125bn range) from $100bn ($95-105bn) set on 13 October. European CLO supply is expected to reach €25bn, up ......
22 November 2022
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CLO Markets EU Deal Alert – 22 November 2022, 10.45 UK time
Barclays is marketing Bridgepoint CLO IV, a European CLO of €360.4m managed by Bridgepoint Credit Management Ltd. Pricing is targeted for next week, according to investors. ............
22 November 2022
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CLO Markets EU Deal Alert – 21 November 2022, 12.00 UK time
Jefferies is now formally marketing Nassau Euro CLO II, Nassau’s second European deal. Pricing is targeted for early next week. The deal has a 2NC/2RP term structure. The subordina ............
21 November 2022
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CLO Markets Daily – 21 November 2022
*EU new issues: Guidance out for Nassau Euro CLO II*Wind-down of NB Global Monthly Income Fund proposed*US CLO triple-As almost flat YTD in total return terms, according to Barclays*Upcoming ............
21 November 2022
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Upcoming default cycle unlikely to be shallow
The upcoming default cycle is unlikely to be shallow, say Deutsche Bank IG and HY strategists, pointing to several factors, notably “very elevated” total debt to EBITDA&a ............
21 November 2022
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CLO Markets Daily – 18 November 2022
*EU new issues: Tikehau CLO VIII and Blackstone’s Edmondstown Park CLO priced*US banks likely to remain less active in the CLO market in the near term but could potentially start ......
18 November 2022
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CLO Markets EU Deal Alert – 18 November 2022, 15.30 UK time
Blackstone Ireland Ltd's Edmondstown Park CLO has priced via BNP Paribas. The senior notes, which contained a sizeable lead interest, priced at a DM of 22 ............
18 November 2022