European Securitization
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Deal has lower average loan-to-value ratio than last trade -
At least 12 European CLOs are in the pipeline across new issue and reset deals
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Investors should feel more confident when BNPL products are regulated like mainstream consumer credit
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Manager opts for second reset of 2014 CLO, with pricing on the deal’s triple-As expected to widen by 44bp
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Ares middle market deal in 2025 was the first CLO incorporated in Luxembourg
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Deal comes after UK new issue spreads have softened
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Single-B notes still need a discount
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Triple-A tranche comes 32bp wider than at first reset
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Blackstone priced one deal privately, one publicly
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KKR’s landmark deal and will CLO managers mix BSL with private credit?
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Barclays also priced its £308.8m consumer ABS
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KKR is securitizing PayPal loans in a deal that could be template for the asset class
