CLO Markets

All Update archive

  • CLO Markets Daily - 8 June 2023

    *EU new issues: Fidelity priced *US new issues: Onex’s OCP CLO 2023-28 under guidance*CLO managers are facing “a little bit of a headwind”, says Acuity Knowledg ............

    8 June 2023

  • CLO Markets US Deal Alert - 8 June 2023, 16.00 UK time

    BofA is marketing OCP CLO 2023-28, a US BSL CLO managed by Onex Credit Partners.Pricing is targeted for the week of 26 June, according to investors.Onex priced in March a ......

    8 June 2023

  • CLO managers facing headwind

    CLO managers are facing “a little bit of a headwind” due to what is going on in the market with high interest rates, according to Sharad Elhance, associate director, Lending ......

    8 June 2023

  • CLO Markets EU Deal Alert - 8 June 2023, 8.15 UK time

    Fidelity Grand Harbour CLO 2023-1 has priced via Morgan Stanley.NatWest acted as co-placement agent.In the final structure the Class F is sized at €15m (with 8.5% of par sub), versu ......

    8 June 2023

  • CLO Markets Daily - 7 June 2023

    *EU new issues: guidance on Glenbrook Park CLO’s triple-Bs and double-B tightened*US LL recovery rates 30 days after default above long run average*Percentage of US BSL CLOs in which manage ......

    7 June 2023

  • CLO Markets EU Deal Alert - 7 June 2023, 13.50 UK time

    Price guidance has been tightened on Glenbrook Park CLO’s double-B rated notes to 875-890bp, according to investors.Guidance on the triple-Bs has been tightened to 575-590bp.The transaction ............

    7 June 2023

  • US LL recovery rates 30 days after default above long-run average

    The weighted average market-implied recovery rate for US leveraged loans thirty days after default stands at 66%, materially higher than last year’s 55% average and higher than the long-run ............

    7 June 2023

  • CLO Markets Daily - 6 June 2023

    *EU new issues: Glenbrook under guidance*US new issues: Guidance out for Bain Capital Credit CLO 2023-2, Owl Rock CLO XII in market with 6-month additional make-whole on Class A1- notes*Stay ......

    6 June 2023

  • CLO Markets EU Deal Alert - 6 June 2023, 16.55 UK time

    A status update was distributed this morning for Glenbrook Park CLO, a European CLO managed by Blackstone Ireland.The triple-B rated notes were 3.6x covered at the 620-630bp IPTs, 1.1x at ......

    6 June 2023

  • CLO Markets US Deal Alert - 6 June 2023, 16.30 UK time

    Citi is marketing Bain Capital Credit CLO 2023-2, a US BSL CLO managed by Bain Capital Credit U.S. CLO Manager II, according to investors.The transaction is structured with the intent ......

    6 June 2023

  • Stay long EU and US CLO triple-As, say strategists

    Morgan Stanley strategists maintain their preference for CLO debt over CLO equity, and recommend buying US and European triple-As.They describe themselves in their Global Strategy Mid-Year Outlook as ............

    5 June 2023

  • CLO Markets Daily - 2 June 2023

    *EU new issues: Invesco Euro priced; Fidelity Grand Harbour CLO 2023-1 expected to price early next week.*US new issues: guidance out for Golub Capital Partners CLO 68(B)*Euro CLO equity cas ......

    2 June 2023

  • EU LL net supply for rest of 2023 seen at €8.9bn

    Barclays has reduced its 2023 gross supply forecast to €35bn and net supply forecast to €15bn for European leveraged loans (institutional only and ex-repricings), the bank said in i ............

    2 June 2023

  • EU CLO issuance likely to decline to c.€22bn this year

    Primary activity for US BSL CLOs will likely hover near $85bn in 2023 (c.$37bn already issued YTD), while new European CLO issuance is likely to be around €22bn (c.€10.6bn issued ......

    2 June 2023

  • CLO Markets EU Deal Alert - 2 June 2023, 8.40 UK time

    Invesco Euro CLO X, a CLO managed by Invesco, priced on Thursday via Barclays.The Class A notes priced at E+188bp.According to Review Port, the preliminary offering documentation was overly flexible ......

    2 June 2023

  • CLO Markets Daily - 1 June 2023

    *EU new issues : CVC in market with CORDA 28*US new issues: Fortress priced*Median cash interest paid by speculative-grade entities as a share of adjusted total debt set to rise ......

    1 June 2023

  • CLO Markets US Deal Alert - 1 June 2023, 17.00 UK time

    Fortress Credit BSL XIX, managed by FC BSL XIX Management (Fortress) priced today via Goldman Sachs.Based on a $480m target par (up from $400m originally), the transaction is intended to ......

    1 June 2023

  • CLO Markets EU Deal Alert - 1 June 2023, 15.40 UK time

    Barclays is marketing CVC Cordatus Loan Fund XXVIII, a European CLO managed by CVC Credit Partners Investment Management.Pricing is targeted for next week.CVC Cordatus Loan Fund XXVII priced in April ......

    1 June 2023

  • CLO Markets Daily - 31 May 2023

    *US new issues: senior triple-As of Barings CLO Ltd. 2023-II price at SOFR+175bp*Defaults should peak in the fourth quarter of 2024 at 9% for US HY, 11.3% for US Loans, ......

    31 May 2023

  • CLO Markets US Deal Alert - 31 May 2023, 18.05 UK time

    Barings CLO Ltd. 2023-II, a US BSL CLO managed by Barings LLC, has priced via BofA.The preplaced Class A1 notes priced at SOFR+175bp. The stated maturity of these notes is ......

    31 May 2023

  • CLO Markets Daily - 30 May 2023

    *EU new issues: IPTs out for Fidelity Grand Harbour 23-1 and Blackstone’s Glenbrook Park*Fitch hikes 2023 default rate forecast for US leveraged loans to 4.0%-4.5% from 2.5%-3.0% p ............

    30 May 2023
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