CLO pipeline marches on amid ‘robust’ triple-A demand

By Will Caiger-Smith
29 May 2014

The pipeline of new CLO issuance continues to swell, shrugging off some of the summer malaise afflicting other parts of the capital markets. Although only one broadly syndicated loan CLO was priced this week, some seven deals were marketing as of Thursday afternoon, with triple-A demand described as “robust”.

After Onex Capital priced its largest ever CLO last Friday — a $1bn deal which was structured to comply with European risk retention rules and which was also both the largest CLO this year and only the third post-crisis US CLO to breach the $1bn mark — analysts ...

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