Japanese investors being priced out as CLO demand soars

Demand for US CLO triple-A paper is at its peak, with sources saying that competition for the bonds is squeezing out the Japanese buyer base that has long been a driver of the market.

  • By Sam Kerr
  • 16 Feb 2017

As demand for fixed income assets soars, particularly for floating rate debt, the CLO market has become more crowded than ever. This has resulted in large Japanese institutions that have been a steady presence in the market, such as Norinchukin Bank, having less pull among managers. 

“The triple-A ...

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