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GC Asia
First dual-compliant post-Brexit CLO closes
The first CLO to comply with both diverging regimes in the UK and the EU has closed, marking a post-Brexit point of no return for the securitization market.
Arranger Morgan Stanley led Carlyle Euro CLO 2020-2 to price in November at a discount margin of 105bp over three-month Euribor, but the deal closed earlier this month, the first such deal to include language ticking off the boxes from the newly separated regimes.
“From 2021, if you are
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