CLO Markets

All Update archive

  • CLO Markets Daily – 10 June 2022

    * EU CLO spreads stable to firmer in secondary market for most of the week* Barclays and JPM cut Issuance forecasts* Just over 20% of Black Diamond’s EU CLO portfolio ......

    10 June 2022

  • Share of Moody's in EU CLO new issue market shrinking

    The pricing of Permira’s Providus VII on Tuesday again put the spotlight on the market share of the three big rating agencies. Permira decided to drop Moody’s, which was rating ......

    10 June 2022

  • Barclays cuts 2022 US and EU CLO issuance forecasts

    Barclays credit analysts have lowered their full-year gross issuance forecast for US BSL and middle-market CLOs to $125-135bn and $10-12bn, respectively. This represents $100-110bn/$8.5-10.5bn of net ............

    10 June 2022

  • JPMorgan analysts cut 2022 US CLO new issue supply forecast to $90-100bn

    JPMorgan analysts have lowered their US CLO new issue supply forecast for the full year 2022 to $90-100bn from $110-120bn. The analysts had revised their forecast on 25 February from ......

    10 June 2022

  • CLO Markets Daily – 9 June 2022

    * EU triple-As: c.5y clips cover at c. 156-158bp in secondary market* EU CLO equity: 2022 annualised return (on a payment basis) could reach 14%, at par with 2021 and ......

    9 June 2022

  • CLO Markets Daily – 8 June 2022

    * US new issues: senior notes of Partners Group’s Pikes Peak CLO 11 price at SOFR+195bp* EU spreads firmer in secondary market US PRIMARY MARKET Partners GroupPartners Gro ............

    8 June 2022

  • CLO Markets Daily – 7 June 2022

    * EU new issues: Providus VII’ senior notes price at 3mE+140bp; Moody’s dropped for Fitch* US CLO triple-Bs and double-Bs look fair valued versus their corporate counterparts afte ............

    7 June 2022

  • CLO Markets EU Deal Alert – 7 June 2022 18.10 UK time

    Permira's Providus CLO VII priced today via Barclays after a long marketing process. The Class A notes priced at +140bp, while the double-Bs priced at a DM of 875bp.Commenting on ......

    7 June 2022

  • CLO Markets Daily – 6 June 2022

    * BofA cuts EU CLO new issuance forecast to €23bn* US CLO managers add IG bonds (such as Microsoft and Apple) in CLO portfolios, says BofA* US new issues: Blackstone ......

    6 June 2022

  • BofA cuts EU CLO new issuance forecast to €23bn

    BofA European CLO strategists have lowered their European CLO new issuance forecast from €37bn to €23bn, citing much weaker than anticipated leveraged loan primary market supply, el ............

    6 June 2022

  • CLO Markets US Deal Alert – Oaktree CLO 2022-2's senior triple-As price at SFOR+200bp

    Oaktree CLO 2022-2, a US CLO managed by Oaktree Capital Management, priced today via BofA.The senior triple-As priced at SFOR+200bp. ^ assum ............

    6 June 2022

  • CLO Markets Daily – 1 June 2022

    * Golub prices 10-tranche MM CLO; senior triple-As at +198bp* EU CLO roundup: CLO primary market unlikely to come back in a significant way before the summer, says BlueBay’s Ashley ......

    1 June 2022

  • EU CLO roundup – May 2022

    * European new CLO issuance reaches €1.99n in May; YTD: €13.39bn* CLO primary market unlikely to come back in a significant way before the summer, says BlueBay’s Ashley Bl ............

    1 June 2022

  • CLO Markets Daily – 31 May 2022

    * Weaker EU triple-As trading at DMs in the 170s in secondary market* HayFin Emerald X's senior notes said to be shown at +130-135bp* BofA analysts expect a deterioration in ......

    31 May 2022

  • CLO Markets Daily – 27 May 2022

    * EU new issues: Carlyle makes foray into primary market with print-and-sprint deal (secondary market should provide a sufficient source of assets to make economics work, according to DB analysts)* ......

    27 May 2022

  • CLO Markets Daily – 26 May 2022

    * US new issues: Senior notes of Trinitas CLO XX price at SOFR+153bp* EU lev credits: Fitch concerned about “vulnerable legacy credits among consumer discretionary and industrial price-take ............

    26 May 2022

  • CLO Markets Daily – 25 May 2022

    * Softer tone in EU secondary market* JPMorgan analysts maintain YE target for US new issue triple-As at 150bp but warn that path is going to be messy/volatile and see ......

    25 May 2022

  • CLO Markets Daily – 24 May 2022

    * EU new issues: Carlyle Euro 2022-3’s senior notes priced at +120bp, triple-Bs at +600bp* Conditions in leveraged credit market not as dire as they seemingly appear, says GuggenheimEUROPEA ............

    24 May 2022

  • CLO Markets EU Deal Alert – 24 May 2022 16.20 UK time

    Carlyle Euro 2022-3, a European CLO managed by CELF Advisors, priced this afternoon via JPMorgan.The deal was first rumoured in March and has been described by investors as a print ......

    24 May 2022

  • CLO Markets Daily – 20 May 2022

    * EU new issues: Carlyle marketing print and sprint deal* Spreads under pressure; market participants fear more sellers could emerge when market stabilises * The leveraged loan maturity wal ......

    20 May 2022

  • CLO Markets Daily – 19 May 2022

    *EU CLO spreads softer in secondary market*US new issues: ICG prices ICG US CLO 2022-1(I); seniors at SOFR+154bpSECONDARY MARKETThe sentiment in the EU CLO market remained negative today, reflecting ......

    19 May 2022
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