CLO Markets

All Update archive

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

  • CLO Markets EU Deal Alert – 7 October 2022, 14.15 UK time

    Barclays is marketing Adagio X EUR CLO, a static CLO of €324.85m managed by AXA Investment Managers US Inc.Pricing is targeted for the beginning of the week of 17 October, ......

    7 October 2022

  • EU CLO roundup - September 2022

    *EU new issuance reaches €2.23bn in September*New transactions with an attractive arbitrage emerging in the US, says CIS Asset Management (Deutschland)September finished on a low note, with ............

    7 October 2022

  • CLO Markets Daily – 5 October 2022

    *EU triple-As c.10bp tighter today in secondary market*After last week’s big sell-off, bottom in valuations seems to have been found for now, says TwentyFour AM*US new issues: Price guidanc ............

    5 October 2022

  • CLO Markets Daily – 4 October 2022

    *EU new issues: senior notes of Penta CLO 12 price at +220bp DM*Spreads firmer in secondary market*BNPP strategists recommends buying short-dated EU senior CLO bonds (AAA/AA/As) and triple-A US CLOs* ......

    4 October 2022

  • CLO Markets EU Deal Alert – 4 October 2022, 19.20 UK time

    Penta CLO 12, a European CLO managed by Partners Group, has priced via Morgan Stanley.The Class A notes priced at a DM of +220bp (E+210bp coupon). Some €50m of Class ......

    4 October 2022

  • CLO Markets Daily – 3 October 2022

    *EU new issues: Penta CLO 12’s deal size shrinks to €293m; price thoughts widened*EU CLO IG spreads cheap after last week's market overreaction, says BofA*76% of loans in U ............

    3 October 2022

  • CLO Markets US Deal Alert – 3 October 2022, 17.00 UK time

    MidOcean Partners is in the market with a EU risk retention compliant deal, called MidOcean Credit CLO XI. The deal is arranged by Natixis; Deutsche Bank acts as co-placement agent.Pricing ......

    3 October 2022

  • CLO Markets EU Deal Alert – 3 October 2022, 15.10 UK time

    Morgan Stanley aims to price this week Penta CLO 12, a European CLO managed by Partners Group.The deal size has shrunk to €293 from €345m, while price thoughts have been ......

    3 October 2022

  • EU CLO IG spreads cheap after last week's market overreaction, says BofA

    Financial markets overreacted last week, forcing a “further divorce between fundamentals, liquidity and prices” in CLO investment grade tranches, especially triple-As down to sing ............

    3 October 2022

  • CLO Markets Daily – 30 September 2022

    *Bleak week as EU spreads widen massively; no forced selling today, bargain prices vanish* Lev loan maturity wall: Refinancing concerns set to grow, especially in lower-quality loans, says Barclays*P ............

    30 September 2022

  • CLO Markets US Deal Alert – 30 September 2022, 17.20 UK time

    Guidance is now available for all the tranches of Danby Park, a US BSL CLO managed by Blackstone Liquid Credit Strategies.Guidance on the Class A notes is wider than the ......

    30 September 2022

  • CLO Markets EU Deal Alert – 29 September 2022, 17.40 UK time

    Citi is marketing CVC Cordatus Loan Fund XXV, a European CLO of c.€391m.The Class A notes are subject. Pricing is targeted for the beginning of the week of 10 October, ......

    29 September 2022

  • CLO Markets US Deal Alert – 29 September 2022, 10.00 UK time

    JPMorgan is marketing Palmer Square CLO 2022-4, a US BSL CLO managed by Palmer Square, according to investors.The deal has a 2NC/5RP term structure.The portfolio’s target par is $500m (c.$2 ......

    29 September 2022

  • CLO Markets Daily – 29 September 2022

    *EU new issues: CVC Cordatus XXV; talk over 50bp wider than Contego X’s pricing levels across the stack*80 handle for EU single-As covers in secondary market*US CLOs: Palmer Square markets ......

    29 September 2022

  • CLO Markets Daily – 28 September 2022

    *EU CLO bond prices slide in secondary market*US new issues: Golub prices dual-currency static middle-market CLO (€70m Class A2 notes at E+200bp)EUROPEAN SECONDARY MARKETSelling pressure in ............

    28 September 2022
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