Highlights
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12 Aug 2022
- CLOs – US & Europe: CLO manager consolidation will aid investing but spur issuer overlap
Consolidations among CLO managers are high this year, potentially aiding managers' ability to find investment opportunities. However, combining managers will likely increase issuer overlap across the acquired and acquiring portfolios, elevating investor exposure to correlated risk. Full Report
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7 Oct 2021
- CLO – Global: Record issuance volumes bring lower coupons and modifications to credit features for outstanding deals
Record collateralized loan obligation (CLO) volumes this year in the US and Europe have featured significant refinancing and reset activity in which deals boosted excess spread, conformed to documentation trends, and made other changes with varying credit effects. Full Report
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