Record volumes in US CLO market weigh on spreads

By David Bell
02 Apr 2018

The US CLO market has posted its busiest start to the year since the financial crisis, and the torrent of paper is now weighing on spreads which could narrow the arbitrage for deal managers.

The first quarter of 2018 delivered $33bn of new CLOs across 58 deals, the most active first quarter for new issue volume in the post-crisis era, said Wells Fargo on Monday.

The amount of refinance and reset activity has slowed compared to the end of last year, but ...

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