First dual-compliant post-Brexit CLO closes

By Tom Brown
14 Jan 2021

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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