US CLOs set to surpass pricing milestone
A pair of CLOs that were priced in the last week have hit 101bp over Libor for the senior class, a post-crisis record for a market that observers say still has room to run.
Deal watchers say the transactions, one issued last Friday by PGIM and another priced on Monday from GSO/Blackstone, are a milestone for CLO pricing, and that it is a matter of when — not if — the market goes tighter.“We’re working on breaking the seal below ...
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