Loan supply easing sparks CLO splurge

One of the biggest challenges for CLO managers is easing up as the volume of new leveraged loans starts to increase, putting the brakes on a long rally in loan prices and sparking a flurry of deals.

  • By David Bell
  • 03 Aug 2017

Loan spreads started to widen in July as supply increased, according to a report from Wells Fargo analysts on Wednesday.

Loan prices dropped by about 150bp during 2016 to the 350bp area but have now ticked up to 387bp, which could slightly ease the pressure on CLO arbitrage.

CLO ...

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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 %
  • Last updated
  • 14 Aug 2017
1 Citi 73,217.70 205 13.50%
2 Bank of America Merrill Lynch 64,298.92 202 11.86%
3 Wells Fargo Securities 54,013.21 172 9.96%
4 JPMorgan 40,335.50 139 7.44%
5 Credit Suisse 30,239.23 97 5.58%