Euro CLOs set for big 2014 after GSO jumbo
The European CLO market is poised for a bumper start to the new year after delivering its largest deal of 2013 this week to cap a striking rehabilitation, writes Joe McDevitt. The €615.7m Richmond Park transaction brought this year’s sales to close to €7bn — significantly ahead of the less than €5bn eked out over the previous four years.
Next year could be even busier. Already as many as eight to 10 warehouses are open for CLO managers that are mostly aiming to price deals early in 2014, CLO specialists reckon. One US-based CLO banker reports having three CLO mandates for the first quarter.Much of next ...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com