NoChu reports growing CLO portfolio, weak financials
Japan's Norinchukin Bank revealed in its full year 2018 earnings presentation Wednesday that it had grown its CLO holdings by 8.8% during the first quarter of 2019, although a look at its books reveals a bank that is aggressively pursuing yield beyond its borders.
According to an earnings release, the Japanese bank grew its CLO portfolio to ¥7.4tr ($67bn) during the first quarter of the year, cementing its place as the largest Japanese holder of CLO debt. All of the CLO debt it owns is rated AAA.Outstanding US CLO debt totals ...
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