CDOs/CLOs

GSO/Blackstone's Cook Park CLO is the firm's first new-issue transaction since November; the senior, triple-A-rated tranche pays just 92 basis points over Libor.

Avoca CLO V was issued only the second default rating of a subordinate global CLO in the last four years, the result of an unpaid subordinate tranche in an early deal liquidation by manager KKR.

The DC Circuirt Court's ruling that CLO managers are exempt from skin in the game rules disappointed some investors, who are willing to pay a premium for deals in which their interests are aligned.

Timothy Bowler, president of the ICE Benchmark Administration, which has been responsible for calculating the index since mid-2013, argues that there is a strong case for keeping it going.

Golub Capital Partners' first CLO of 2018 is pooling small and medium-size enterprise loans into a $903.8 million portfolio, more than twice the size of its previous middle-market CLO.

GoldenTree's dual-market CLO manager affiliate is launching its first European CLO after debuting with two U.S. deals totaling more than $1.4 billion in 2017.

In January, the closed end fund put $36.6 million to work acquiring the most subordinate securities issued by several CLOs, following the $52.6 million it spent in the fourth quarter.

The $410 million Ares XXXVIII CLO was the first U.S. collateralized loan obligation to reset, reprice or be issued since Angelo Gordon completed its Northwoods Capital XVI transaction on Feb. 15.

It's now calling for volume of $110 billion, 10% higher than its previous forecast, based on the view that the repeal of risk retention will spur smaller managers and new managers to enter the market.

KKR is resetting a 2012-vintage deal for the second time; it now has a reinvestment period of just 1.8 years compared with the more typical four or five years.