Spire Partners grinds CLO spreads to new tight levels
Spire Partners set a new tight level for new issue European CLOs last Friday, as triple-A spreads continued to rally and spreads at the junior end of the capital stack also show signs of tightening.
Barclays priced the €220m ‘A’ class of Aurium III notes at 88bp over three month Euribor, the tightest level achieved by a new issue this year.
Reset deals, such as ALME Loan Funding III and Avoca CLO XII have achieved tighter pricing at the triple-A end of the
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