CLO Research

Since early 2025, the three educational articles below have collectively garnered over 7,500 views, underscoring continued interest in succinct, practical and relevant CLO content.

On 17 February 2026, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) issued consultation papers outlining proposed...

Among the 2012–2021 vintage deals, only 2.1% of EU CLO BB tranches show an MVOC below 100%, compared with 23% for US BSL CLOs. Coincidentally, around 26.1% of both US BSL and EU CLO deals report negative equity NAV.

This study is based on a sample of 1,633 U.S. BSL CLO deals. Static deals are excluded from the analysis.

EU CLOs’ overall exposure to the ION Platform term loan is approximately EUR 1.49 billion. As of 6 March 2026, 395 EU CLO deals, managed by 50 managers, reported an average deal-level exposure of around 92 bps.

Among the 2012–2021 vintage deals, only 2.1% of EU CLO BB tranches show an MVOC below 100%, compared with 23% for US BSL CLOs. Coincidentally, around 26.1% of both US BSL and EU CLO deals report negative equity NAV.