CLO investor base diversifies as negative rates persist
CLO managers are still able to refinance deals in the European market, but analysts said such deals will soon be replaced by a raft of new issuance. The buy-side is also diversifying as investors flee negative yield rates in other market sectors.
"Europe is on holiday and market volatility has prompted arrangers in the US to try and pre-place as much of a deal [as possible] prior to announcing it," said Laila Kollmorgen, managing director at PineBridge.The demand for resets and refis continues to be driven by the ...
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