Fixed rate US CLO repricings gather pace as election threatens supply

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By Paola Aurisicchio
14 Oct 2020

Tightening spreads on triple-A rated CLO tranches has prompted a wave of refinancings and resets of fixed rate tranches over the last two weeks. Market sources expect the trend to continue as CLO managers look to save on costs.

Anchorage Capital Group, THL Credit Advisors, CVC Capital Partners and ArrowMark Partners are the latest CLO managers to have jumped on fixed rate CLO refi and reset bandwagon.

Anchorage partially reset on Tuesday $162m of fixed rate tranches of its $512m CLO, which was originally priced in 2018 ...

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