KKR Financial braves buyers’ market in Euro CLOs
KKR Financial hit a tough market with its €516.8m Avoca XV CLO — the first European CLO to be priced since mid-August.
Market participants said KKR’s decision to go ahead with the sale was “brave”, but in a quiet market the pricing compares well with deals issued over the summer.
Arranger Barclays priced €516.8m CLO for KKR Financial on Friday.European CLO primary issuance is €10bn year-to-date after the sale. Last ...