Five year reinvestment periods come to Europe as Morgan Stanley resets CLO

By James Harvey

Morgan Stanley priced the first five-year reinvestment CLO in Europe since the financial crisis earlier today, according to market sources

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TAGS: Europe CLO Morgan Stanley CSAM Pricing Primary market

View details on CLO-i: Madison Park Euro Funding V

Comment by: Anonymous. Posted 2 years ago [2017-04-04 16:38:01]

A bright young banker somewhere should create an "evergreen CLO" (i.e., perpetual reinvestment). Keep the familiar tranche structure, let the debt redeem / remarket every [5] years. Lower fees for the banker, but hopefully they don't discover that immediately.