CLO flow unabated but no ECB tailwind

By Owen Sanderson
24 Sep 2014

European CLOs are coming thick and fast, with deals pricing this week from GSO Capital, Carlyle, and Alcentra, plus rumoured mandates from ICG and Avoca.

But the market, which will not be eligible for ECB purchase programme, has tightened far less than comparable senior asset classes, thanks to a distinct investor base of credit-focused funds and specialist asset managers with relatively little crossover to vanilla flow ABS.

“A lot of the banks and asset managers ...

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