Monitor: US BSL CLO New Issue Arb Trend

The arbitrage metric for new-issue US CLOs has remained largely rangebound. As of February 16, 2024, the latest metric stood at 214 basis points (bps), slightly lower than the median metric for 2023 deals. Another notable observation is the loan index's moving 4-week average discounted spreads, which have stayed remarkably flat over the past five weeks!

US CLO Manager Report: Oak Hill Advisors (OHA)

Despite adopting a lower-interest-return strategy, OHA has consistently outperformed its peers in both declining and rising loan market conditions. In recent times, the firm has further extended its lead over competitors, showcasing its effective management approach.

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Clopremium