CLO volume tapers but supply surge looms

A new deal from Carlyle is the only CLO to have emerged in the primary market so far this week, following just two new deals last week. Spreads have firmed up on the lower supply and better macro backdrop, but with as many as 35-40 deals in pipeline the slowdown might not last long.

  • By David Bell
  • 31 Jul 2018

The $611.55m deal from Carlyle CLO Management, Carlyle US CLO 2018-2, included a $375m triple-A rated note that was sold at 109bp over three month Libor.

At the junior end of the capital structure, a $33m tranche rated BBB- by S&P Global Ratings was sold at 290bp over, ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 13,295 25 18.56
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.25
3 Lloyds Bank 6,979 21 9.74
4 Citi 6,256 16 8.73
5 JP Morgan 5,220 8 7.29

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 104,581.71 299 10.92%
2 Bank of America Merrill Lynch 86,347.40 249 9.02%
3 JPMorgan 80,990.39 237 8.46%
4 Wells Fargo Securities 77,934.65 225 8.14%
5 Credit Suisse 63,570.21 165 6.64%