Euro CLOs see highest issuance since pandemic amid refi wave

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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