Latest CLO news

  • Sofr comes down from all-time highs

    Although it remains the officially chosen alternative to dollar Libor rates, the Secured Overnight Financing Rate (Sofr) has shown volatility this winter, spiking even to an all-time high toward the end of last week.

    • 11 Dec 2018
  • Trinitas V CLO reset delayed as year-end volatility bites securitization

    CLO market sources tell GlobalCapital that Natixis has been unable to successfully market a CLO reset on behalf of Trinitas Capital Management and will delay the offering until early 2019 as investors balk at tight spreads in a highly volatile market.

    • 06 Dec 2018
  • Corp defaults to rise, says Moody’s

    Defaults among borrowers with speculative grade ratings are set to dive at the start of next year, but only for a while, Moody’s said in an outlook report for non-financial corporates this week.

    • 05 Dec 2018
  • Fund outflows bring levfin to standstill

    Investors in European leveraged debt seem to be giving up for the year. Funds and financial vehicles that buy high yield bonds and leveraged loans have seen large volumes of cash outflows, leaving borrowers with no other option but to step back this week.

    • 05 Dec 2018
  • Private equity jeopardising levfin creditor protections

    Senior credit analysts at Moody’s are warning that the private equity-led proliferation of weak creditor protections in the leveraged loan market may mean a more protracted and challenging default cycle in coming years.

    • 04 Dec 2018
  • Nomura hires US CLO syndicate head

    Nomura has hired Florian Bita as the head of CLO origination and syndication for the Americas.

    • 29 Nov 2018
  • Euro CLO docs to weaken in 2019, warns Moody’s

    Moody's expects the supply of euro CLOs in 2019 to match 2018 levels, constrained by leveraged loan issuance, with no near term performance worries. However, the rating agency expects that collateral quality and transaction structures will weaken and notes that the European Central Bank’s guidelines to limit excessive leverage have had little impact.

    • 29 Nov 2018
  • Barings poised to price third euro CLO in 2018, First Citizen back with Irish auto ABS

    The €400m CLO deal, managed by Barings (UK) Limited, is set to price on Friday with spread talk on lower rated tranches indicative of a widening in CLO liability costs potentially pinching equity returns. Meanwhile, Magnetar Capital’s First Citizen Finance is marketing its second auto ABS deal backed by Irish loans.

    • 22 Nov 2018
  • Loan downgrades ‘biggest risk’ for CLOs in 2019

    Wells Fargo analysts said that the biggest risk for CLOs next year is loan rating downgrades straining the structures, although the bank does not expect an increase in loan defaults despite the rise of late cycle lending behaviour.

    • 19 Nov 2018
  • Eagle Point partners with wealth advisor to bring CLOs to high net worth buyers

    Investment adviser Alexandria Capital is teaming up with credit firm and CLO investor Eagle Point Credit Management to bring CLO investing opportunities to more family offices and high net worth individuals.

    • 14 Nov 2018

CLO news archive

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 19,103.54 89 7.62%
2 JPMorgan 16,881.55 58 6.73%
3 Deutsche Bank 15,679.29 58 6.25%
4 Credit Agricole CIB 14,083.69 66 5.62%
5 Goldman Sachs 13,902.00 61 5.54%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 5,527.11 43 7.81%
2 BNP Paribas 4,918.81 57 6.95%
3 Deutsche Bank 4,372.15 44 6.18%
4 JPMorgan 3,977.60 45 5.62%
5 Credit Suisse 3,757.05 40 5.31%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 19,901.51 153 10.02%
2 Goldman Sachs 14,830.49 106 7.47%
3 Credit Suisse 13,745.94 98 6.92%
4 Bank of America Merrill Lynch 13,267.41 122 6.68%
5 Morgan Stanley 12,977.13 92 6.53%