Review: The Reset of Barings CLO 2019-IV
Given its relatively solid equity NAV, no additional equity was required for this reset. Only a $3 million class X tranche was included to support the new reset structure.
Given its relatively solid equity NAV, no additional equity was required for this reset. Only a $3 million class X tranche was included to support the new reset structure.
This study includes a sample of 602 seasoned deals that have concluded their reinvestment periods. Notably, CSAM has stood out as the most successful all-weather manager, consistently delivering good returns to equity investors. If you’re interested in learning about the pricing for premium content, please don’t hesitate to email me at info@clopremium.co.uk.
Based on 558 post-2012 US CLO deals that have been redeemed or paid off so far, those from the 2014 and 2018 vintages performed the worst. However, the sample size for the 2018 vintage deals is still relatively small. Deals from the 2020 and 2022 vintages performed the best, with median deals registering IRRs of...
Below are tables presenting the MVOC (AAA-B) and EQ NAV of US BSL CLO deals by vintage, based on asset...
Based on 57 post-2013 EU CLO deals that have been redeemed so far, CLO equity tranches from the 2020 and 2022 vintages stood out, as highlighted by their impressive final IRRs, bolstered by solid final equity NAV metrics.
The Eaton Vance CLO 2019-1 reset was recently priced. Before the reset, the equity NAV of this 2019 vintage deal...
At least 69 US CLO deals have been redeemed or paid off since October 2023. Impressively, two static deals from the 2022 vintage—KKR Static CLO 2, managed by KKR, and Stratus Static CLO 2022-1, managed by Blackstone...
At least 69 deals have been redeemed or paid off since October 2023.
The reset of RAD CLO 16, managed by Irradiant, was very much expected given its high Weighted Average Cost of...
Elmwood CLO IV, managed by Elmwood Asset Management, was recently reset. Its new Weighted Average Cost of Capital (WACC) across...
With a WACC of 183 bps, it was priced tighter than any primary issue WACC recorded year-to-date (YTD).
The following EU CLO deals issued and priced their single-B tranches this year. These were initially structured for delayed issuance...
Below are tables presenting the MVOC (AAA-B) and EQ NAV of US BSL CLO deals by vintage, based on asset...
On January 19, 2024, GoldenTree celebrated a notable achievement with an AAA print of 150 basis points (bps) for its...
KKR CLO 29, managed by KKR, was recently reset. The performance of this 2021 vintage deal from an MVOC perspective was...