Ares CLO gets tightest pricing for senior notes in months

Ares European CLO XII was priced on Wednesday via Bank of America, with senior notes coming in at 108bp over one month Euribor, tighter than the senior debt from other CLO managers in recent months.

  • By Tom Brown
  • 25 Jul 2019

The European CLO market has been pricing in the range of 110bp-115bp for the past few months ever since anchor investor Norinchukin Bank pulled back from the sector, leaving many issuers with little choice but to develop relationships with a wider investor base.

Despite the Japanese bank’s ...

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