Prudential deal pushes triple-A notes tighter

CLOs
By Paola Aurisicchio
23 Feb 2021

PGIM has pushed the market to a new tight by resetting a deal with senior notes at 104bp over three month Libor.

Prudential has joined a wave of managers who are repricing or resetting CLOs.

PGIM has lowered the liability costs of a $429m CLO originally issued in 2019, reset in the same year with triple-A notes at 120bp over three month Libor and now reworked again in extremely favourable market ...

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