Soaring US CLO demand grinds spreads tighter

Sentiment among US CLO investors is nearing a fever pitch, as buyers pile into new offerings despite debt spreads plunging to their tightest levels in recent memory.

  • By Sam Kerr
  • 13 Mar 2017

Benchmark triple-A spreads sit at 124bp over Libor, according to research from Wells Fargo. This represents tightening of 2bp from a week ago, 10bp from four weeks ago and 17bp year to date according to the analysts.

A CLO manager and equity investor told GlobalCapital that rapid tightening ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 3,865 12 12.28
2 Citi 2,800 7 8.90
3 Goldman Sachs 2,615 4 8.31
4 Credit Agricole 2,254 6 7.16
5 Barclays 2,006 6 6.38

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 12 Jun 2017
1 Citi 46,714.29 133 12.73%
2 Bank of America Merrill Lynch 43,017.27 121 11.73%
3 Wells Fargo Securities 36,865.83 105 10.05%
4 JPMorgan 25,897.27 79 7.06%
5 Credit Suisse 19,055.29 50 5.19%