CLO debt avoids sell-off as issuance slows

US CLO managers have slowed the pace of primary issuance in recent weeks, helping to firm up secondary market debt spreads while other credit markets suffered a sell-off.

  • By David Bell
  • 22 Oct 2018

Tight arbitrage and fears of oversupply in September prompted some managers to push back their fourth quarter issuance to next year, according to Wells Fargo analysts on Monday.

JP Morgan analysts said that weekly volumes over the past four weeks have been $1.7bn, down from the year to ...

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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 5,997 17 15.40
2 Citi 4,679 16 12.02
3 Lloyds Bank 3,158 6 8.11
4 Bank of America Merrill Lynch (BAML) 3,104 10 7.97
5 Morgan Stanley 3,066 8 7.88

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 70,707.91 236 10.46%
2 JPMorgan 64,579.62 197 9.55%
3 Bank of America Merrill Lynch 51,474.08 169 7.61%
4 Wells Fargo Securities 51,322.59 157 7.59%
5 Credit Suisse 47,737.24 151 7.06%