Latest CLO news

  • Japanese big hitter steps into US middle market CLOs

    Japan's Norinchukin Bank is understood to have invested in US middle market CLOs for the first time, the latest chapter in the evolution of the bank’s CLO investing strategy, writes David Bell. It accompanies a growing surge of liquidity in middle market lending in what could be a breakout year for the sector.

    • 25 May 2017
  • Risk retention rules spawn third party growth, engineering

    Risk retention sponsors are hiring third party firms to help accurately value their horizontal strips of US CLO equity, although the growth of bank financing is also encouraging more managers to adopt the vertical approach to the regulation.

    • 24 May 2017
  • Issuers crowd European CLO primary pipeline

    A flood of European CLO paper washed through the primary pipeline in the past week, with issuers across asset classes flipping the switch following a lull in the wider euro ABS market.

    • 22 May 2017
  • Liquidity surge in middle market lending drives CLO boom

    A flood of capital into the US middle market is fuelling a rise in CLO issuance, with the product also set to expand into Europe for the first time.

    • 18 May 2017
  • Euro pipeline fills up ahead of Barcelona ABS confab

    The European ABS market shifted to high gear this week, as market participants prepare to head off to Barcelona for Global ABS on June 6.

    • 18 May 2017
  • ECB publishes final leveraged lending guidelines

    The European Central Bank published its final guidelines on leveraged lending on Tuesday, clarifying issues that arose during the consultation period beginning in September. The guidelines are set to be implemented later this year.

    • 16 May 2017
  • Carlyle seeks cov-lite amendment

    Carlyle is attempting to get an amendment on a 2015 CLO, Carlyle Global Market Strategies Euro 2015-3, to raise the covenant-lite limits in the deal to 90% from 80%.

    • 11 May 2017
  • HPS prices debut European CLO

    HPS Investment Partners has priced its first-ever European CLO, the first new issue deal to be priced in May and the 13th of 2017.

    • 10 May 2017
  • Macro backdrop lends mixed outlook to US CLO rally, say analysts

    Technical factors have driven US CLO spreads to record tight levels, and analysts have said there could be further room for the rally to run — though concerns around a falling oil price and reflation rate mean mezzanine tranches may have more limited potential for further tightening.

    • 08 May 2017
  • Hedge funds lever up CLO equity as yields slip

    Investor thirst for leverage has been intensifying in the US CLO market over the last six months. But while demand is hottest for levered bets on rated debt tranches, GlobalCapital understands that two banks have offered hedge funds leverage on equity tranches, one of the riskiest things an investor can do in structured finance. David Bell reports.

    • 04 May 2017

CLO news archive

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Mar 2017
1 Goldman Sachs 5,003.18 13 8.74%
2 Deutsche Bank 4,881.33 25 8.53%
3 JPMorgan 4,826.81 11 8.44%
4 Bank of America Merrill Lynch 4,337.47 13 7.58%
5 BNP Paribas 3,160.34 16 5.52%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 23 May 2017
1 Deutsche Bank 3,271.23 30 8.16%
2 JPMorgan 3,230.36 27 8.06%
3 Citi 2,868.23 17 7.16%
4 Barclays 2,733.11 21 6.82%
5 Goldman Sachs 2,620.59 22 6.54%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 09 May 2017
1 JPMorgan 15,642.64 116 12.03%
2 Bank of America Merrill Lynch 11,985.87 100 9.21%
3 Citi 11,558.90 86 8.89%
4 Goldman Sachs 10,013.87 71 7.70%
5 Barclays 7,309.82 50 5.62%