Quiet start for US CLO market, but record year predicted
In a quiet start to the US CLO market in 2018, only reset and refinancing deals have emerged so far, but Wells Fargo is predicting a record year of issuance for the asset class. Some investors are pulling back, however, as loan market fundamentals show signs of deterioration.
On Thursday, Citi priced a $362.75m reset of Great Lakes 2015-1, a middle market deal managed by BMO Asset Management. The triple-A notes were sold at 153bp over Libor, comfortably inside the 195bp level they were originally sold at in 2015.Citi is also marketing a reset of ...
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