US CLO triple-As defy spread widening trend

Managers priced four new issue US CLOs last week, as unsatisfied demand helped triple-A spreads to grind even tighter despite softening in the rest of the capital stack.

  • By David Bell
  • 18 Apr 2017

Triple-A pricing for deals with longer reinvestment periods dipped below the 120bp threshold for the first time last week, with Citi pricing the triple-A piece of Credit Suisse Asset Management’s $612m Madison Park XXV at a discount margin of 118bp over Libor.

Spreads at the top of ...

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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) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 108,190.43 309 12.88%
2 Bank of America Merrill Lynch 95,782.14 279 11.40%
3 Wells Fargo Securities 80,847.28 245 9.63%
4 JPMorgan 58,524.24 184 6.97%
5 Credit Suisse 43,977.05 134 5.24%