No let-up in US CLO triple-A tightening

tight pricing
By David Bell
18 Dec 2017

LCM Capital Management and Carlyle have priced triple-A paper at new lows in recent days. The tightening trend in CLO debt appears relentless. Bank of America Merrill Lynch said on Friday that triple-A notes could drop to around 90bp next year.

LCM Capital Management priced a $614m CLO via Morgan Stanley on Monday. The triple-A notes were priced at the same level — 107bp over Libor — that Carlyle hit last Friday. The previous tight was 110bp.

Carlyle was one of six issuers that hit the CLO market with new ...

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