Little respite for loan starved CLOs despite credit swings

US high yield bonds have been jittery in recent days but the loan market has largely held firm, with few opportunities for CLO managers to buy assets on the cheap. The riskiest pieces of CLO debt have shown some vulnerability to market pressures, however.

  • By David Bell
  • 13 Feb 2018

Leveraged loan prices have only dropped between a quarter and a half point since US equities started selling off at the start of the month.

JP Morgan’s loan index only widened by 27 cents last week, the bank said on Tuesday.

While that marked the largest drop since ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 4,296 9 12.14
2 BNP Paribas 3,136 11 8.86
3 Bank of America Merrill Lynch (BAML) 3,067 11 8.67
4 Lloyds Bank 2,346 10 6.63
5 Morgan Stanley 2,138 5 6.04

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1 Citi 48,731.88 138 11.84%
2 Bank of America Merrill Lynch 44,227.86 120 10.74%
3 Wells Fargo Securities 33,922.42 99 8.24%
4 JPMorgan 31,992.55 93 7.77%
5 Credit Suisse 24,807.99 61 6.03%