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...

RRE 28 Loan Management CLO achieved a record tight AAA–BB pricing differential on 10 February. However, that record was quickly surpassed by Avoca CLO XXXV, which set a new benchmark in the 2.0 EU CLO market. With its AAA priced at 120 DM and BB at 445 DM — implying a record-tight 325 DM differential — and Mizuho acting as arranger, the timing could hardly have been better.

Between 31 October 2025 and 18 February 2026, over 160 CLO equity tranches were placed on BWIC with released covers, best bids or price talks.

In terms of industry exposure, the median deal has approximately 7.5% and 1.9% exposure to the software and IT services sectors, respectively, based on S&P’s industry classification, and 0% exposure to software and IT services names trading below 80.

RRE 28 Loan Management CLO achieved a record tight AAA–BB pricing differential on 10 February. However, that record was quickly surpassed by Avoca CLO XXXV, which set a new benchmark in the 2.0 EU CLO market. With its AAA priced at 120 DM and BB at 445 DM — implying a record-tight 325 DM differential — and Mizuho acting as arranger, the timing could hardly have been better.