Wide double Bs leave CLO refis trapped in catch 22
$12.5 billion of US CLOs have refinanced this year on the back of steep CLO term curves — but wide junior CLO spreads have made some equity investors and managers think twice about repricing.
This article is available only to Creditflux subscribers and free trial users within 30 days of publication.
Already a subscriber? Not logged in? Click here to login.
This trial will give you:
- 4-weeks' free online access to our
most recent subscriber-only articles
- Daily breaking news alert sent by email
- A print copy of Creditflux
If you currently have a free trial, you will see this message when you try to view articles older than 30 days.
- MGG targets $500 million for 'special opportunities' direct lending fund less than 1 hour ago
- Saba launches new credit hedge fund 3 hours ago
- Ellington holds first close on structured credit dislocation fund 3 hours ago
- Capital Four launches two CLO funds 6 hours ago
- Ares fined $1 million by SEC over 'misuse of non-public information' 6 hours ago
- A lot of CLO portfolios look similar and I’ve never been one to follow the herd 20 days ago
- Where are the gloating I-told-you-so columnists who claimed CLOs would bring global destruction? 20 days ago
- Liquidity is king. A company with a sound long-term value proposition may not last the next few weeks 20 days ago
- The CMBS talf proposal is simple and effective. A similar approach for CLOs would be welcomed 20 days ago
- CSOs are hurting but will emerge stronger, say sources 21 days ago