Senior euro CLO buyers push for yield as summer supply builds
The limited pool of buyers that exists for the senior portions of European collateralised loan obligations is looking to push spreads wider on the triple-A bonds of upcoming deals, according to CLO officials on the frontline in London. But some participants fear that new deals could be tough to execute in the long run without an anchor investor for senior tranches, writes Hugh Leask.
The supply of new deals in Europe continues to increase, defying the August tradition of a near-halt tomarket activity until the end of the summer. But the buyer base for the largest slices of new deals is not growing at the same rate, giving existing buyers the ...
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