‘Year-end jitters’ come early for European CLO market as spreads widen
The European CLO market has widened from the long standing 90bp level for triple-A bonds seen for much of 2019, as the pricing difference between new and more established managers begins to blur.
Credit Suisse Asset Management (CSAM) priced a CLO reset on Tuesday which saw triple-B notes land at 456bp, significantly wider than recent prints and approximately 83bp wider than the original 2016 notes.
“Year-end jitters came early,” said a syndicate head, explaining the investor response.The €481m ...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org