Canyon Partners has announced its entrance into the European collateralized loan obligation (CLO) market through the pricing of the €404 million ($435 million) Canyon Euro CLO 2022-1 on March 13, 2023.
This deal marks the firm’s first European CLO transaction and makes Canyon the first new manager to price a CLO in Europe in 13 months. Canyon priced a U.S. CLO, Canyon CLO 2022-2, in December 2022, and closed their latest CLO equity fund, Canyon CLO Equity Fund III LP, in August.
“Issuing in Europe is a natural extension of our long-standing capabilities in both the U.S. and Europe,” said Erik Miller, partner and co-head of Canyon’s CLO business. “As a global firm, we look forward to providing a more comprehensive product solution for our partners.”
“There has been strong appetite for this CLO and despite market volatility, we secured attractive pricing across all tranches,” said Martin Downen, managing director and co-head of Canyon’s CLO bus
