CLO Markets
All Update archive
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CLO Markets EU Deal Alert – 21 October 2022, 15.25 UK time
Natixis is marketing the triple-As of Dryden 103 Euro CLO 2021, according to investors.The CLO is managed by PGIM Loan Originator Manager Ltd.PGIM priced a US BCL CLO, Dryden 106 ......
21 October 2022
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Asset managers participation in EU CLOs could decline by 10ppts in Europe
Barclays credit analysts expect investments by asset managers in European triple-A rated CLOs to decline dramatically from 25-30% to around 15% as LDI strategies are adjusted, and their overall parti ......
21 October 2022
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CLO Markets Daily – 20 October 2022
*EU new issues: CQS’s Grosvenor Place CLO 2022-1and Barings Euro CLO 2022-1 set to price next week; both managers opt for 1NC/1RP term structuresEUROPEAN PRIMARY MARKET CQSBNP Pari ............
20 October 2022
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CLO Markets EU Deal Alert – 20 October 2022, 16.00 UK time
Barings Euro CLO 2022-1 is expected to price on Monday or Tuesday next week, according to investors.The deal, managed by Barings (U.K.) Limited and arranged by Goldman Sachs, is now ......
20 October 2022
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CLO Markets EU Deal Alert – 20 October 2022, 12.45 UK time
BNP Paribas is marketing Grosvenor Place CLO 2022-1, a European CLO managed by CQS (UK) LLP.IPTs are available and pricing is expected next week, according to investors.The deal has a ......
20 October 2022
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CLO Markets US Deal Alert – 19 October 2022, 21.45 UK time
Marble Point CLO XXV has priced via Deutsche Bank.The senior triple-As priced at SOFR+230bp.The deal is sized at $296.25m.When details of this transaction first emerged, in early September, the deal ......
19 October 2022
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CLO Markets Daily – 19 October 2022
*Sharp rise in number of open US warehouses between January and September; EU managers more focused on getting existing warehouses priced rather than opening new ones, says Maples*Cash became largest ......
19 October 2022
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CLO Markets Daily – 18 October 2022
*Firmer tone in European secondary market*ESG factors not affecting CLO portfolio credit quality or diversity, says Moody’s*US new issues: Voya CLO 2022-4 priced (1.5 NC for triple-As and d ............
18 October 2022
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CLO Markets US Deal Alert – 18 October 2022, 19.30 UK time
Voya CLO 2022-4, a BSL CLO managed by Voya Alternative Asset Management, has priced via Credit Suisse.The triple-As and double-As have a longer non-call period (one year and a half) ......
18 October 2022
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ESG factors not affecting CLO portfolio credit quality or diversity
Heightened focus on ESG factors is not affecting portfolio credit quality or diversification among European and US CLO transactions, according to Moody’s Investors Service.Despite the sligh ............
18 October 2022
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CLO Markets Daily – 17 October 2022
* European triple-B bonds cover in 600 area to 700 area DM range* Tighter European reporting rules will “increase the burden for EU investors to consider US CLOs” but short-term ......
17 October 2022
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CLO Markets EU Deal Alert – 14 October 2022, 20.20 UK time
Adagio X EUR CLO, a static CLO of €324.75m managed by AXA Investment Managers US Inc, has priced via Barclays.No cash prices or DMs were published. The Class A notes ......
14 October 2022
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CLO Markets Daily – 14 October 2022
*EU new issues: AXA IM’s Adagio X priced*EU CLOs: Triple-A rated bonds are currently cheapest tranche on an intra-tranche basis, according to DB* No large scale downgrades of EU CLO ......
14 October 2022
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CLO Markets Daily – 13 October 2022
*US new issues: Senior notes of Blackstone’s Danby Park CLO (2NC/5RP) price at SOFR+210bp; senior triple-As of Palmer Square CLO 2022-4 (2NC/5RP) price at SOFR+215bp; Bridge Street CLO III ......
13 October 2022
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CLO Markets US Deal Alert – 13 October 2022, 17.30 UK time
Danby Park CLO, a US BSL CLO managed by Blackstone Liquid Credit Strategies, priced today via Goldman Sachs.The Class A notes priced at SOFR+210bp, outside guidance. The original talk on ......
13 October 2022
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2023 net new supply could reach $100bn in US, €18bn in Europe
JPMorgan analysts expect $95-105bn of net new US CLO supply in 2023, and €15-20bn in Europe. This is a preliminary forecast, subject to refinement, the analysts stress.The $100bn mid-point f ......
13 October 2022
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CLO Markets Daily – 12 October 2022
* Ability of European buysiders to invest in US CLOs curtailed * CLO triple-B rated tranches and above "extremely unlikely to crack", says Citi’s Maggie WangEU SECURITISAT ............
12 October 2022
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Ability of European buysiders to invest in US CLOs curtailed
The ability of European buysiders to invest in non-EU securitisations, in particular US CLOs, looks set to be significantly curtailed if Europe’s reporting templates are not adopted by non- ............
12 October 2022
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CLO Markets US Deal Alert – 11 October 2022, 16.40 UK time
Credit Suisse is marketing Voya CLO 2022-4, a BSL CLO managed by Voya Alternative Asset Management. Pricing is targeted for next week.The transaction is notable for featuring two tranches rated ......
11 October 2022
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CLO Markets Daily – 10 October 2022
* EU median equity tranche now trading at around 45, a level comparable to June; cash distributions to equity holders have remained quite stable, says BofA*US CLOs’ year-to-date par build ......
10 October 2022
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CLO Markets Daily – 7 October 2022
*EU new issues: AXA in market with static deal, Adagio X EUR CLO*EU triple-A/double-A spread recover despite continued selling*EU CLO roundup: new transactions with an attractive arbitrage emerging i ............
7 October 2022