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GC Asia
BlackRock CLO underlines further tightening
BlackRock priced the tightest three year reinvestment period CLO since the pandemic hit, selling senior notes at 120bp over three month Libor and tightening the double-B spread from recent prints.
The spreads on senior notes continue to tighten as the market normalises more and loan prices rally.
Allstate Investment Management Company priced a $369m CLO on Tuesday via Bank Of America with senior notes sold at 121bp over three month Libor.
On Wednesday, BlackRock found an even tighter level. The ...Already a subscriber? Login
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