US CLO senior spreads rally, but mezz set to widen
Spreads on new issue CLO senior bonds have rallied with the first deal of the year, but mezzanine spreads look likely to widen after a deluge of lower rated paper flooded the secondary market in the past week.
MJX Asset Management priced the first new issue CLO of the year this week at tighter levels than the manager’s last deal in November.The triple-A spreads of Venture XXVI, structured by Jefferies, came in 4bp tighter than the November deal, while the double-A class was priced 10bp ...
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