‘Reeling’ CLO market searches for first pricing

By Will Caiger-Smith
15 Jan 2015

The US CLO market was still yet to see its first deal pricing of 2015 on Thursday, with a confluence of regulatory and market-driven factors putting serious pressure on demand. But that isn’t stopping some banks from taking an aggressive stance on new issuance.

Worries over oil and gas exposure, concerns around risk retention regulations and the fate of legislative attempts to fix the Volcker rule and poor equity performance in the fourth quarter have combined to scare off parts of the CLO investor base. That has forced dealers to shed CLO ...

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