MM CLO market set to follow BSL issuance frenzy

Happy market
By Paola Aurisicchio
28 Apr 2021

Middle-market CLO issuance is set to accelerate towards the hectic pace set by broadly syndicated loan deal, driven by the large primary backlog and attractive market spreads. Top tiers managers are expected to issue more middle-market (MM) CLOs throughout this year and smaller managers are coming back to the market with their first deals of the year.

BlackRock, Monroe Capital, and BMO Asset Management are among the managers that have already priced a CLO backed by loans to middle-market companies with BlackRock scoring the biggest mid-market transaction since 2018, a $800m CLO arranged by Barclays in February.

CLO sources say the segment is set to ...

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