CLO flow unabated with no ECB tailwind

By Tom Porter
25 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 the 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 ...

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