US CLO curve flattens as investors creep down capital stack

Profit 230x150
By David Bell
11 Jul 2017

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.

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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