Euro CLO spreads open a window for managers to reset deals

After a month of record issuance in July, CLO spread levels have tightened into a range to create a window for managers to reset older transactions in August.

  • By Tom Brown
  • 06 Aug 2019

While loan spreads have not tightened as much as anticipated, CLO spreads are nearing their tightest levels of the year.

“I think more and more people are going to try and figure out if the economics can work for a reset,” said a syndicate banker.

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 5,997 17 15.40
2 Citi 4,679 16 12.02
3 Lloyds Bank 3,158 6 8.11
4 Bank of America Merrill Lynch (BAML) 3,104 10 7.97
5 Morgan Stanley 3,066 8 7.88

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5 Credit Suisse 47,737.24 151 7.06%