1 June

Black Diamond CLO tries to buy back senior notes at 98.75

Investors do not take up offer on Black Diamond CLO 2015-1, which is amortising (paying down debt at par each quarter).

17 JUNE

Jefferies completes shock raid on Citi’s European CLO desk

Jefferies has made a statement of intent by hiring three from Citi’s market-leading CLO team, including its head Laura Coady. Jefferies later brings in Citi’s Luis Leon Carsi and Hugh Upcott Gill, according to market sources.

8 June

Mariner transfers CLO management following MBO

Orix is letting go of its subsidiary Mariner, but it wants to keep hold of the credit firm’s CLOs.

8 June

CIFC CLO funds outperform after running simulations

2 June

Hildene hires as it raises CLO fund

The investor is looking to raise $300 million for a CLO fund and hires Hayfin’s global head of structured credit Tapan Jain. Hayfin replaces Jain with LibreMax co-founder Jordan Milman and John Hanich.

9 June

Beneath the triple C: $8 billion of CLO loans tumble

Downgrade rates slow as $6.7 billion of US loans are affected in May compared to $41.6 billion in April. Symphony is the largest manager to not suffer a downgrade in May.

8 June

OC health check: European CLO reports junior OC breach

Alcentra’s Jubilee 2014-XIV becomes the second CLO 2.0 after Halcyon Loan Advisors 2016 to fail a junior OC test in Europe. Barings and Man GLG deals join the list later on.

9 June

Cashflowing CLO looks to issue class X notes

Flatiron CLO 18, managed by NYL Investors, seeks investor approval to issue junior debt in the form of short-dated class X notes. Consents are given and the X notes pay 10%.

11 June

Third Point launches standalone structured credit fund

The manager is looking to raise $500 million after ramping up credit exposure.

15 June

LP round-up: mighty oaks win $1 billion apiece from Calpers

Calpers awards Oak Hill and Oaktree $1 billion apiece for distressed funds while the State of Michigan Investment Board allocated to direct lending and structured credit.

16 June

CLO pipeline: manager prepares crowning return

Western Asset is working with Citi on its rebranded CLO platform, Crown City, its first new CLO in six years.

18 June

Direct lender prepares first European CLO

Bank of America is putting together a debut deal for AlbaCore, a €4 billion firm which is best known for lending to mid-market companies.