US CLO triple-As touch tightest levels since March
Spreads on triple-A CLO paper hit their tightest levels since the pandemic began with a deal priced last Friday, as investors report renewed confidence in the highest rated portions of the CLO capital stack.
Ares Management priced a $477m CLO arranged via JP Morgan on May 15. The deal, with a three year reinvestment period, sold the $288m triple-A notes at 170bp over three month Libor, the tightest spreads for a deal in the Covid era.Onex Credit Partners and Oaktree Capital Management ...
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