‘Year-end jitters’ come early for European CLO market as spreads widen

By Tom Brown
14 Nov 2019

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 ...

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