Double-A debt proves a tough sell for US CLOs
US CLO double-A debt is becoming more difficult to sell as some Asian accounts hold off, leaving other investors able to push harder on stipulations in new deals.
Two investors said that the double-A piece of the capital structure was the most difficult part of a deal to sell, although a CLO manager dismissed this idea and said it was relatively easy across the stack in contrast to the more difficult periods seen last year.One ...
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