CLO Markets
All Update archive
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CLO collateral credit quality set to deteriorate significantly in severe downturn
Under severe downturn scenarios for corporate borrowers comparable to recent recessions, junior CLO tranches are at risk of credit quality deterioration consistent with multi-notch rating downgrades, ............
10 November 2022
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CLO Markets Daily – 9 November 2022
*EU new issues: Napier Park prices Henley CLO IX, its first static deal*Downward rating pressure and a marginal build-up of ‘CCC’ exposure in US BSL CLOs in October, according to ......
9 November 2022
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CLO Markets EU Deal Alert – 9 November 2022, 21.50 UK time
Henley CLO IX, a static European CLO managed by Napier Park Global Capital, priced today via JPMorgan. The final structure’s equity piece is slightly thinner than the one indicated ............
9 November 2022
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CLO Markets EU Deal Alert – 9 November 2022, 17.55 UK time
Expected prices and discount margins have been released for Henley CLO IX, a European CLO managed by Napier Park Global Capital, ahead of formal pricing, according to investors. In ......
9 November 2022
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CLO Markets Daily – 8 November 2022
*US new issues: Redding Ridge marketing static US BSL; senior triple-As of AMMC 2022-27 (2.1NC/5.1RP) price at SOFR+240bp*Relative value: 2-year US Treasury, yielding nearly 5%, are worth co ............
8 November 2022
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CLO Markets US Deal Alert – 8 November 2022, 18.40 UK time
RR 24 Ltd, a static US BSL, is expected to price at the end of this week via Natixis, according to investors. The transaction, managed by Redding Ridge, is ......
8 November 2022
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CLO Markets Daily – 7 November 2022
*EU new issues: Henley CLO IX’s IPTs out*Investor focus should be on low rated assets overlap, says BofA EU strategists*US CLO equity total returns average -18% in 2022 (through Oc ......
7 November 2022
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CLO Markets US Deal Alert – 7 November 2022, 17.00 UK time
Goldman Sachs is marketing Capital Four US CLO III, a US BSL transaction managed by Capital Four US Inc. Pricing is targeted for the end of next week, according to ......
7 November 2022
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Investor focus should be on low rated assets overlap
CLO investors should focus on reducing overlap in terms of triple-C and below rated debt, as opportunities to diversify the underlying loan pool are limited, say BofA EU strategists in ......
7 November 2022
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CLO Markets EU Deal Alert – 7 November 2022, 11.00 UK time
Initial price thoughts are circulating for Henley CLO IX, a European CLO managed by Napier Park Global Capital. Pricing is targeted for this week via arranger JPMorgan, according to investor ......
7 November 2022
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CLO Markets Daily – 4 November 2022
*Five EU new issues price this week; Nassau readying second EU deal, Napier Park preparing static deal*EU triple-A rated CLOs now offer a sizeable pick-up over US triple-As, according to ......
4 November 2022
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CLO Markets EU Deal Alert – 4 November 2022, 18.30 UK time
Dryden 103 Euro CLO 2021 priced this afternoon via Natixis. The senior notes, of which there was limited availability, priced at a discount margin of +229bp, within the price ......
4 November 2022
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CLO Markets EU Deal Alert – 4 November 2022, 16.15 UK time
CVC Cordatus Loan Fund XXVI priced on Thursday via Barclays and Societe Générale. The deal, managed by CVC Credit Partners Investment Management Ltd, was upsized to &am ............
4 November 2022
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2023 new issue CLO supply expected to reach €22-28bn in Europe, $117bn in US
Barclays credit analysts forecasts €22-28bn of new issue CLOs in 2023 in Europe, which, they note, is in line with COVID-affected 2020 and volatile 2022. They anticipate that prima ......
4 November 2022
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European leveraged loan net supply expected to reach €40bn in 2023
Barclays credit analysts forecast €65bn of gross supply in the European leveraged loan market for 2023, excluding repricings, and €40bn of net supply. Their forecast for gross suppl ............
4 November 2022
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CLO Markets Daily – 3 November 2022
*EU new issues: Tikehau VIII under guidance; Ares XVI priced EUROPEAN PRIMARY MARKET TikehauTikehau Capital Europe is in the market with& ............
3 November 2022
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CLO Markets EU Deal Alert – 3 November 2022, 15.45 UK time
Ares European CLO XVI, a CLO managed by Ares Management Ltd, has priced via BofA, according to market sources. The double-As, single-As and triple-Bs priced at the tighter levels th ......
3 November 2022
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CLO Markets EU Deal Alert – 3 November 2022, 14.15 UK time
Tikehau Capital Europe is in the market with Tikehau CLO VIII, a European CLO arranged by Goldman Sachs and co-arranged by Societe Générale. The transaction has a 2NC/4 ............
3 November 2022
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CLO Markets Daily – 2 November 2022
*EU new issues: Ares XVI expected to price today; tighter levels tested*EU CLO Roundup: During the month, being a CLO investor made more sense than being a CLO issuer, says ......
2 November 2022
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CLO Markets EU Deal Alert – 2 November 2022, 13.50 UK time
Ares European CLO XVI, a CLO managed by Ares Management Ltd, is now subject and tighter levels are being tested for the double-As, single-As and triple-Bs, according to investors. ......
2 November 2022
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EU CLO roundup - October 2022
*EU new issuance reaches €1.95bn in October*During the month, being a CLO investor made more sense than being a CLO issuer, says Capital Four*High BWIC volumes kept pressure on spreads ......
2 November 2022