Euro CLOs see highest issuance since pandemic amid refi wave

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By Tom Brown
09 Feb 2021

The first month of 2021 recorded the highest pace of euro CLO issuance since the pandemic, at €10bn, in a sign that market sentiment has recovered. Between March and December last year, issuance averaged between €3bn and €4bn per month.

The virus restricted leveraged loan supply in 2020, limiting the number of loans available for packaging into CLOs, and restricting deal issuance. But a gradual recovery starting around the back end of last year has stimulated new money loans for M&A and leveraged buyouts, feeding through into new ...

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