Birch Grove CLO 2 Reset
The recent reset of Birch Grove CLO 2 has been accretive, reducing the weighted average cost of capital (WACC) by...
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The recent reset of Birch Grove CLO 2 has been accretive, reducing the weighted average cost of capital (WACC) by...
Below are tables presenting the MVOC (AAA-B) and EQ NAV of US BSL CLO deals by vintage, based on asset...
Managers who have been proactive in restructuring their seasoned deals whenever opportunities arise would be viewed favourably.
This deal has performed well, with its final IRR expected to exceed 12%, net of incentive fees.
Please see the table below for a list of US BSL CLO managers, including the average percentile across at least eight of their deals, as well as the pricing of their most recent primary or reset deal based on DMs or coupons.
The table below shows recent resets priced since July 1, 2024, and updated in Intex. The MVOC (BB) calculation is based on asset prices as of August 6, 2024.
Please see the table below for the list of US BSL CLO managers and the average percentile across 2-7 of their deals, based on asset prices as of August 6, 2024.
Below are tables presenting the MVOC (AAA-B) and EQ NAV of US BSL CLO deals by vintage, based on asset prices as of August 6, 2024.
Please see the table below for the list of US BSL CLO managers and the average percentile across at least 8 of their deals, based on asset prices as of August 6, 2024.
The reset of Jubilee CLO 2019-XXII must have brought much jubilation to various stakeholders, particularly the holders of fixed-rate notes.
As shown in the table below, across all issuance years, the median IRRs of EU CLO equity tranches were higher than their corresponding median BB tranches. However, BB tranches tend to exhibit a more stable IRR profile and demonstrated better IRR performance at the 25th percentile for deals from 2015, 2016, 2017, 2018, and 2022.
As shown in the tables below, deals from the 2013, 2021, and 2023 vintages saw higher IRRs for their equity tranches compared to their BB tranches.
Please find below the table for the WACC of 463 EU CLOs by vintage. These 463 deals have either already...
The recent reset of Armada Euro CLO II, managed by Brigade Capital Europe, was an interesting one. This deal had...
Please find below the estimated US CLO equity IRRs of a sample of 66 US CLO deals that were redeemed in Q2 2024, categorized by vintage. An issue price of $95 is assumed.
