Prepayments pose reinvestment dilemma for CLO managers

By Michelle D'Souza

CLO managers globally could be left sitting on piles of cash amid an uptick in loan prepayments. Standard & Poor’s reported that institutional US loan prepayments had hit $26 billion in July, and more recently some widely-held CLO names are set to return principal to lenders, with financial data provider Refinitiv US Holdings and Italian telecom operator Wind Tre taking this route.

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TAGS: Europe Refinancing Leveraged loans Primary market North America