AAA CLO

USD CLO AAA

Only $8m of clips trade today with no meaningful shift in spread direction, US LSTA 100 Index +6bp dod.  AAA trade 127dm-131dm with one benchmark at the tight end PLMRS 2021-3A A1R covers 127dm / 6.4y WAL - EoRP 2030, MVOC 160, coupon +129bps and Palmer Square managed,

Mezz/Equity CLO

USD CLO Mezz/Equity

Small clips of AA and BB trade 151dm-191dm for AA (AA Index 166dm) and 269dm-334dm (BBB Index 295dm).

Mezz/Equity CLO

EUR MEZZ/EQUITY CLO

Still very light EUR trading via BWIC. Two Bain bonds traded: BCCE 2021-1X D (BBB) at 331 dm and BCCE 2021-2X E (B) at 627 dm.

AVOCA 29A SUB traded at 14%. It’s a strong deal with an ADR of 0.78%.

AAA CLO

USD CLO AAA

Only 10m of clips trade today, no change in spreads, US LSTA 100 Index +4bp dod.  AAA trade 121dm-165dm with the tighter end of the range a benchmark trading near our AAA Index 123dm.

Mezz/Equity CLO

USD CLO Mezz/Equity

Small AA and BB non benchmark clips trade AA 207dm (AA Index 166dm) and BB 580dm-686dm (BB Index 606dm).

Mezz/Equity CLO

EUR MEZZ/EQUITY CLO

Just one equity trade today. AVOCA 31X SUB traded at 12% yield. It is performing well with only 0.49% ADR and a low CCC bucket.

AAA CLO

USD CLO AAA

Only 22m of trades across 4 bonds today, markets have a slightly softer tone, US LSTA 100 Index -1bp dod.  1 x AAA MSEV 2021-1A A1R (Eaton Vance managed, MVOC 154, coupon +129bps) trades 129dm slightly wide of our AAA Index 123dm.

Mezz/Equity CLO

USD Mezz/Equity

3 x non benchmark BB clips trade 612dm-904dm (BB Index 606dm).

Mezz/Equity CLO

USD CLO Mezz/Equity

Only 19m of trades today with CLO spreads unchanged given non benchmark trades at AA and BB, US LSTA 100 Index +6bp dod.

Mezz/Equity CLO

EUR MEZZ/EQUITY CLO

Another lower mezz day. BBs remain on the firmer side with average spreads today at 636 dm.

Single B’s are around 860 dm.

AAA CLO

USD CLO AAA

$100m of flow with spreads remaining stable, AAA trade 105dm-129dm (AAA Index 122dm) with 1 x reinvesting MM CLO AAA trading 158dm context.

Mezz/Equity CLO

USD CLO Mezz/Equity

Spotty mezz trades around our index levels, 1 x Single-A trade 190dm (190dm), AA at 169dm (165dm) and BB 602dm (BB Index 605dm).

Mezz/Equity CLO

EUR MEZZ/EQUITY CLO

In a day of lower mezz trading premium price, high margin BBs have traded a little tighter at 553 dm.

Single B’s are also ratcheting in with average spreads today around 764 dm.

Mezz/Equity CLO

EUR MEZZ/EQUITY CLO

A number of high margin BBBs have traded, at around 365 dm.

Equity clips traded in a range from 9% to 15% for deals that are callable to 1 year from call.

Mezz/Equity CLO

USD CLO Mezz/Equity

Only 12m of BB clips trade today, no benchmarks and Index levels unchanged, US LSTA 100 Index +4bp dod.

AAA CLO

EUR AAA CLO

A lot of AAAs traded today. Spreads have edged tighter by a few bps. The average traded spread on the day is 96 dm.

Mezz/Equity CLO

EUR MEZZ/EQUITY CLO

SPAUL 5X C1R (A) traded at 202 dm and CRNCL 2017-8X F (B) at 775 dm, both exactly in line with expectations.

AAA CLO

USD CLO AAA

$47m of flow today with spreads flat, US LSTA 100 Index +7bp dod.  BSL 1st pays trade 102dm-161dm (AAA Index 122dm) with a 2nd pay TRAL 2019-6A AJR (Blue Owl) trading 171dm.

Mezz/Equity CLO

USD CLO Mezz/Equity

Few mezz tranches trade with spotty benchmark trades in AA and A, At single-A TCW 2025-1A C (MVOC 117.5/TCW managed/+190bps coupon) trades 191dm (Single-A Index 190dm).  At AA AIMCO 2015-AA BR4 (MVOC 127.98 / AIMCO managed / +160bp coupon) trades 159dm (AA Index 165dm).

AAA CLO

USD CLO AAA

$113m of flow with AAA stable and some rebalancing of mezz spreads, some a touch wider, US LSTA 100 Index +4bp dod.  AAA trade 102dm-136dm (AAA Index 122dm).

Mezz/Equity CLO

USD CLO Mezz/Equity

Slightly wider tone on mezz so we have adjusted our Index levels slightly, AA, A and BB trade today with AA trading range 159dm-167dm (AA Index 165dm).

AAA CLO

USD CLO AAA

$130m of flow across the stack, debt spreads generally flat/lightly firmer tone, AAA trade 121dm-141dm with benchmarks 121dm-123dm (AAA Index 122dm) with a single MM CLO AAA cover 146dm.

Mezz/Equity CLO

USD CLO Mezz/Equity

Few benchmark trades, at single-A OCT45 2019-1A C1RR covers 100.38 at 191dm/5.2y WAL - Octagon managed, MVOC 116.8, coupon +195bps and clean credit (Single-A Index 188dm).

AAA CLO

EUR AAA CLO

A lighter day of trading today. The only AAA is ARINI 2X A at 152 dm.

Mezz/Equity CLO

EUR MEZZ/EQUITY CLO

INVSC 5X C (A) traded at 258 dm.

BBBs traded around 366 dm and BBs around 626 dm.

DRYD 2021-103X SUB traded at 14% for a well-performing piece of equity with a 64 NAV.

AAA CLO

EUR AAA CLO

A busy day across the whole capital stack today.Two Hayfin AAAs traded around 98 dm area.

Mezz/Equity CLO

EUR MEZZ/EQUITY CLO

An OCP Euro AA floater traded at 182 dm. A fixed rate Contego AA traded around par with a 5% coupon.

Single A’s are around 208 dm.

HAYEM 4X DRE (BBB) traded at 344 dm.

A few BBs have traded in a +580 context although Palmer Square was tighter at 475 dm.

Single B’s are around 925 dm today.

ANCHE 8X SUB covered at 50.34 which is around 14% yield. It has an NAV of 39.

Mezz/Equity CLO

EUR MEZZ/EQUITY CLO

There are a raft of lower mezz trades via BWIC today. Overall spread levels are unchanged. BBs have traded around 685 dm, driven mostly by high margin bonds.

Single B’s have averaged around 850a.

Mezz/Equity CLO

USD CLO Mezz/Equity

Only $9m of flow today with little movement in spreads, US LSTA 100 Index +2bp dod.  Mezz bonds are all non benchmarks, small clips in A, BBB and BB bonds.

AAA CLO

EUR AAA CLO

Only a few 2-3 year, par AAA’s around 98 dm today.

AAA CLO

USD CLO AAA

$124m of flow today, US LSTA 100 Index +5bp dod.  2 x MM CLOs trade 152dm-169dm, no BSLs.

Mezz/Equity CLO

USD CLO Mezz/Equity

High grade remain firm whilst BBB and BB have a slight softening tone, BBB trade 268dm-402dm (BBB Index 293dm) with BB trading 532dm-694dm with benchmarks 603dm-620dm (BB Index 603dm).

AAA CLO

EUR AAA CLO

1-2 year, par AAA’s around 90 dm.

Mezz/Equity CLO

EUR MEZZ/EQUITY CLO

BBs traded around 647 dm with a couple of Carlyle oddlots trading tight in L600s context.

Single B’s are around 893 dm in secondary.

AAA CLO

USD CLO AAA

$222m of flow with th majority trading near our Index levels, US LSTA 100 Index is broadly flat to month end, AAA trade 118dm-139dm with benchmarks 118dm-126dm (AAA Index 122dm).

Mezz/Equity CLO

USD CLO Mezz/Equity

Little to note in terms of benchmark flow, with the majority non-benchmark BBs with low MVOC profiles, BB trade 446dm-1171dm (BB Index 601dm).

AAA CLO

EUR AAA CLO

AAA’s steady at 113 dm today.

Mezz/Equity CLO

EUR MEZZ/EQUITY CLO

BNPAM 2015-1X CRR (A upgraded to AA) traded at 150 dm.

BB’s look around 10 bps wider to us, across premium and discount bonds, at around 650 dm today.

Similarly single B’s have softened also, by 20 or more basis points.

A large block of MDPKE 17X M equity traded at around 13% risk adjusted yield. It has a high ADR at 2.15% and a high currently defaulted bucket of 3.2%.

AAA CLO

EUR AAA CLO

A busier day today in EUR.  A number of premium price bonds have traded, a little closer to par than our models predicted, and so we see spreads having widened by a few bps. The average traded spread today is 134 dm.

Mezz/Equity CLO

EUR MEZZ/EQUITY CLO

AA’s, single A’s and BB’s are all steady at around +198, +237 and +614 respectively, in secondary.

AAA CLO

EUR AAA CLO

Just a few AAAs today on Labor Day. Average spreads are 92 dm.

Mezz/Equity CLO

EUR MEZZ/EQUITY CLO

Just a handful of trades before Labor Day.  A few single A’s in 220 dm area. One Palmer Square BBB at 273 dm. A short AAA at 88 dm. Spreads unchanged.

AAA CLO

USD CLO AAA
$31m of flow today across the stck, slight tightening effect but spreads broadly flat.  US LSTA 100 Index +3bp dod.  AAA trade 77dm-176dm with benchmarks 120dm-128dm (AAA Index 122dm).

Mezz/Equity CLO

USD CLO Mezz/Equity

AA trade in small size 156dm-264dm with 1 x benchmark at 162dm, single-As trade 171dm-324dm (Single-A Index 191dm).

AAA CLO

EUR AAA CLO

Just a handful of short AAAs today, trading around 95 dm.

AAA CLO

USD CLO AAA

$30m of flow across a handful of trades, US LSTA 100 Index +2bp dod, CLO spreads unchanged. 1 x post reinvestment BSL AAA OZLM 2016-15A A1R3 trades 102dm / 1,3y WAL whilst a MM CLO TWBRK 2025-1A A trades 147dm / 5.3y WAL (EoRP 2029).

Mezz/Equity CLO

USD CLO Mezz/Equity

1 x benchmark AA trade ALLEG 2021-2A BR trades 169dm / 8.3y WAL - EoRP 2030, AXA managed, +170bps coupon and MVOC 128.1 (AA Index 165dm).

Mezz/Equity CLO

EUR MEZZ/EQUITY CLO

ACLO 12X B (AA) traded at 188 dm.

ACLO 10X CR (A) traded at 220 dm.

BB’s traded around 622 dm.

ANCHE 4X F (B) traded at 754 dm.