CLO market persists through macro headwinds

Reluctance from smaller Japanese buyers and the end of a rally in loan prices are likely to dampen CLO volumes through the remainder of 2019, market sources say, although the market thus far shows no signs of abating.

  • By Alexander Saeedy
  • 09 May 2019

April’s record breaking volumes for new issue CLO prints surprised many given that the outlook for CLOs at the beginning of the year was highly bearish and regulators show continued interest in leveraged lending.

"Had you asked me what I expected new issue CLO volumes would be ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 3,691 11 20.70
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.78

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 40,734.72 129 11.29%
2 JPMorgan 32,938.92 93 9.13%
3 Wells Fargo Securities 30,907.51 87 8.57%
4 Bank of America Merrill Lynch 27,917.30 88 7.74%
5 Credit Suisse 22,890.32 71 6.35%