USD CLO AAA

$137m of flow today, US LSTA 100 Index -2bp dod and lower mezz spreads tighter on the day.  AAA trade 143dm-155dm non benchmarks and AAA Index unchanged 137dm.

USD CLO Mezz/Equity

Single-As trade 205dm-311dm with benchmarks 205dm-240dm (Single-A Index 222dm), BBBs trade 307dm-477dm with benchmarks 324dm-338dm (BBB Index 329dm), BBs trade 570dm-732dm with benchmarks 630dm-644dm (BB Index 626dm).

EUR AAA CLO

AAAs are steady at around 99 dm.

USD CLO AAA

$127m of flow today, with BB spreads continuing to remain the most volatile band, US LSTA 100 Index -2bp dod.  AAA trade 145dm-197dm given a variety of high coupon, MM CLO and 2nd pay profiles all non benchmarks.

USD CLO Mezz/Equity

Single-A trade 232dm-247dm, slightly wide to our single-A Index 223dm, BBB trade wide of the index given high coupon / MM CLO profiles whilst BB trade 628dm-713dm with 1 x benchmark trade BABSN 2019-4A ER cover 101.12 at 628dm / 9.9y WAL - EoRP 2029, coupon +640bps, MVOC 105.9 and managed by Barings (BB Index 641dm).

EUR AAA CLO

AAAs are steady at around 104 dm.

USD CLO AAA

$118m of flow today, some rebalancing of A and BB spreads wider, US LSTA 100 Index +11bp on last CLO trading day 18th, AAA trade 132dm-141dm (AAA Index 137dm).

USD CLO Mezz/Equity

Single-As trade 206dm-288dm with benchmarks 218dm-224dm with our Single-A Index now 223dm.  Plenty of BB flow, with one notable benchmark OCP 2024-32A E cover 102a at 647dm / 9.6y WAL - EoRP 2029, Onex managed, MVOC 107.6 and clean credit metrics, our BB Index 647dm.

USD CLO AAA

$90m of flow, with mezz tighter (A-BB) and US LSTA 100 Index +3bp dod.  AAA trading is non benchmark high coupon bond profiles 148dm-164dm (AAA Index 138dm).

USD CLO Mezz/Equity

Single-A down to BB trades are generally tighter, with our Single-A Index now 217dm (trading activity today 204dm-215dm in benchmarks).  Our BBB Index now 329dm and BB now 625dm.

EUR AAA CLO

AAAs are steady at around 120 dm. Primary is at +130.

USD CLO AAA

$43m of flow, few benchmarks and CLO spreads flat on the day, US LSTA 100 Index +6bp dod.  AAA trading in non benchmark post reinvestment or MM names, MM CLOs trade 172dm-176dm.

USD CLO Mezz/Equity

BB saw a little flow with benchmarks 632dm-640dm either side of our BB Index 633dm, CGMS 2021-1A D covers 100.05 at 632dm / 6.6y WAL - EoRP 2026, MVOC 105.7, coupon +600bps, clean credit and Carlyle the manager.

EUR AAA CLO

AAAs are steady at around 117 dm.

USD CLO AAA

More flow today, $64m by notional, CLO spreads broadly flat with a few benchmarks trading near our index level.  AAA from weaker managers trade 146dm-153dm (in reinvestment) with our AAA Index 138dm.

USD CLO Mezz/Equity

AA, BBB and BB flow with spreads largely unchanged, 2 x BB benchmarks 640dm-642dm (BB Index 634dm) AGL 2022-17A E covers 100.1 at 640dm / 7.4y WAL - EoRP 2027, MVOC 105.8, coupon +635 and AGL is the manager, note ADR is slightly elevated 1.13 and MVOC is at the lower end of benchmarks explaining the slight basis to the index.

EUR AAA CLO

AAAs are steady at around 118 dm.

USD CLO Mezz/Equity

Little in the way of flow eith $31m of mezz trafding with CLO spreads unchanged, US LSTA 100 Index +6bp dod.  2 x AA and 2 x BB trade today with one benchmark of note BROOKP 2024-1A B1 covers 100.79 at 194dm / 7.9y WAL right on our AA Index 195dm with Blackstone the manager, EoRP 2026, MVOC 130 and very clean credit metrics.

USD CLO Mezz/Equity

Only 4 x small mezz clips with $27m of notional trading, US LSTA 100 Index +4bp dod and CLO spreads flat.  Bonds are all post reinvestment with no adjustment to the Single-A / BBB index.

USD CLO AAA

$76m of flow, some rebalancing of spreads at BBB and BB today, IG spreads flat. US LSTA 100 Index +10bp.  AAA trade 109dm-147dm with no benchmarks (AAA Index 138dm).

USD CLO Mezz/Equity

All the flow is in BBB and BB today, A few benchmarks trade at BBB in a 340dm-344dm range (BBB Index 341dm) whilst BB Index rebalances to 634dm.

EUR AAA CLO

High margin AAAs have traded around +157 in secondary.

USD CLO Mezz/Equity

$53m of mezz only flow today, CLO spreads flat and US LSTA 100 Index +4bp dod.  Virtually all mezz trades are non benchmarks post reinvestment profiles or distressed MVOC profiles.

EUR AAA CLO

Low margin AAAs around +105 and high margin bonds about +175 in secondary.

USD CLO AAA
$88m of flow today, CLO spreads flat on month end whilst US LSTA 100 Index +21bp on same period.  AAA trade 97dm - 156dm for 1st pays with benchmarks 137dm-138dm versus our AAA Index 138dm, 2 x 2nd pays trade 161dm-179dm.

USD CLO Mezz/Equity

Only $4m of clips trade across mezz today with no benchmarks and CLO mezz spreads unchanged.

EUR AAA CLO

AAAs at +98 in secondary.

EUR AAA CLO

AAAs at +95 in secondary.

EUR AAA CLO

HAYEM 5X A (AAA rated) traded at 111 dm.

USD CLO AAA

$50m of flow today, some mild tightening in mid-mezz area and US LSTA 100 Index +2bp dod.  Only 1 x post reinvestment non benchmark AAA trade today (AAA Index 138dm).

USD CLO Mezz/Equity

Single-A trade 219dm-255dm with benchmarks 219dm-220dm in small clips, our single-A Index 234dm.  BBB trade 313dm-338dm with benchmarks 328dm-338dm (BBB Index 346dm) again in small clips (12m notional benchmarks).

USD CLO AAA

$143m of flow today, firmer tone at AAA and some rebalancing at BBB, US LSTA 100 Index -1bp dod.  AAA trade 112dm-203dm with 1st pay benchmarks 135dm-139dm across $13m of notional (AAA Index 138dm).  2nd pay AAA trade tighter 157dm - 171dm with few comparable trades recently.

USD CLO Mezz/Equity

Majority of the flow is in BBB, trading range is 370dm - 519dm with few benchmarks given an array of weaker manager profiles, high coupon bonds or in one case a very low MVOC profile (106.8).  Our BBB Index is 349dm.

EUR AAA CLO

Spreads are very static at the moment. AAAs traded around +86 today.

USD CLO Mezz/Equity

$50m of flow in mezz/equity today with a slightly firmer tone at A/BBB levels whilst US LSTA 100 Index +2bp dod.  Majority of the flow is in BBB with a trading range for post reinvestment bonds 331dm-379dm with benchmarks 331dm-367dm and our BBB Index 346dm.  

EUR AAA CLO

AAA spreads are unchanged at around +117 today because a number of premium priced bonds traded.

EUR AAA CLO

AAA spreads are unchanged at around +108 today because a number of premium priced bonds traded.

USD CLO AAA

$155m of AAA flow today with a firmer tone, US LSTA 100 Index +4bp dod.  AAA benchmarks trade 135dm-146dm with our AAA Index 140dm.

EUR AAA CLO

AAA spreads are unchanged at around +86 today.

USD CLO AAA

After the holiday on Wednesday some muted activity today with $65m of flow, US LSTA 100 Index -4bp dod and CLO spreads have a slightly softer feel.  1 x AAA trades inside the index, a high quality bond from a top tier manager with a low coupon profile TPRK 2021-1A A1 cover 100.09 at 131dm / 3.4y WAL - EoRP 2026, Blackstone is the manager, ADR 0.4, MVOC 155, clean metrics and coupon +100bps.

USD CLO Mezz/Equity

A couple of benchmarks trade at AA and a softer feel to spreads.  At AA BCC 2019-4A BR covers 100.13 at 194dm / 5.9y WAL (EoRP 2027) - Bain Cap managed, MVOC 126 - touch wider to our closing index of Tuesday 191dm.  Away from this A-BB trades have a softer feel and we have adjusted accordingly to take this into account and the general market sentiment - Sinle-A Index 194dm, BBB Index 351dm and BB Index 637dm.

EUR AAA CLO

AAA spreads are unchanged.