Norinchukin pulls back from European, US CLO sectors

Maneki_neko
By Tom Brown
06 Jun 2019

Securitization investors and traders have told GlobalCapital that CLO anchor investor Norinchukin Bank has taken a step back from both the US and European markets. As Tom Brown writes, some have suggested that the bank’s domestic regulator has voiced concerns about its surging holdings of senior CLO debt.

The move has resulted in a repricing of European CLOs in the run-up to the annual Global ABS conference in Barcelona next week.

“They certainly aren’t buying at present, but I have no idea when they will re-engage,” said a CLO issuer, who has previously worked with the Japanese ...

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