US CLO curve flattens as investors creep down capital stack

The US new issue CLO market sparked back into life this week, with four new deals sold in addition to refinancing and reset activity. Investors have shifted down the capital structure and driven the US CLO credit curve to its flattest level in three years.

  • By David Bell
  • 11 Jul 2017
No new primary deals were priced in the US CLO market last week, as participants took a breather following a busy June. In total, $15bn of new issue deals were priced last month. JP Morgan analysts said that this was the second-busiest month of all time, just behind ...

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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) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 84,503.31 246 12.96%
2 Bank of America Merrill Lynch 71,587.85 220 10.98%
3 Wells Fargo Securities 65,360.43 206 10.03%
4 JPMorgan 46,548.88 148 7.14%
5 Credit Suisse 37,323.31 115 5.73%