Loan fund outflows, refi slowdown could spur new CLOs

A fifth straight week of outflows from leveraged loan funds and a slowdown in CLO refinancing activity could further boost the new issue CLO market, which enjoyed its second busiest month of the year so far in August.

  • By David Bell
  • 11 Sep 2017

According to data from JP Morgan, leveraged loan funds reported an outflow of around $40m last week, the fifth net outflow in the past six weeks. With expectations of a Federal Reserve interest rate risk softening, retail investors have pulled cash from the loan market.

Data in the ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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1 Citi 23,450.22 64 12.57%
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3 Wells Fargo Securities 16,244.58 49 8.71%
4 JPMorgan 13,192.69 44 7.07%
5 Credit Suisse 10,691.12 19 5.73%