CLO managers get triple-As away without Japanese help

CVC Credit Partners and BNP Paribas Asset Management are two CLO managers preparing to price their latest CLOs, bringing broadly syndicated deals to the market without help from Japanese anchor investment. Both well-established managers are having little trouble finding interest in their latest deals, as European and US investors rush in to fill the gap.

  • By Tom Brown
  • 04 Jul 2019
“They are great managers and I think they are enjoying good demand,” said an investor. “BNPP is getting plenty of attention across the capital stack. Double-B tranches are enjoying participation from hedge funds. The triple-As are okay, I do not think there are any problems placing them ...

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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 4,486 16 13.62
2 Citi 4,347 16 13.20
3 Lloyds Bank 3,158 6 9.59
4 Morgan Stanley 3,066 8 9.31
5 Bank of America Merrill Lynch (BAML) 2,771 10 8.42

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 59,774.40 197 10.64%
2 JPMorgan 52,017.12 155 9.26%
3 Wells Fargo Securities 42,153.78 123 7.51%
4 Bank of America Merrill Lynch 41,657.82 137 7.42%
5 Credit Suisse 38,415.30 121 6.84%