Wave of short dated CLOs unlikely to materialise

By Will Caiger-Smith
15 May 2014

Despite increased interest in shorter non-call and reinvestment periods in the broadly syndicated CLO market, a wave of short dated deals is unlikely to materialise anytime soon, market participants told GlobalCapital on Thursday. But investors will still have a chance to take on shorter paper, with plenty of CLO 2.0 deals available for refinancing.

Ares Management recently priced its $361m Ares XXX CLO, which had one year non-call period and no reinvestment period, with Deutsche Bank as arranger. Before that deal was priced, Palmer Square priced its $457m CLO 2014-1, which had a one year reinvestment period and a one year non-call ...

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