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How MVOC and Manager Tiering Influence US CLO BB Pricing

The table below presents benchmark BB tranche discount margins (DMs) for US CLOs with reinvestment periods ending in 2029-2031, across different MVOC bands and manager tiers. The benchmark levels are derived from average DM prints by MVOC band and manager tier, based on trading colour (source: SCI) observed since mid-April.

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