Primary US BSL CLO Pricings vs. Managers’ Rankings (MVOC)
Please see the table below for the list of US BSL CLO managers who have priced a deal since May...
Please see the table below for the list of US BSL CLO managers who have priced a deal since May...
The top four deals, characterised by the narrowest weighted average liability spreads year-to-date (YTD), are Aqueduct European CLO 8, CVC Cordatus Loan Fund XXXI CLO, Avoca CLO XXIX, and Bridgepoint CLO VI.
The top five non-short-dated US BSL CLO deals with the narrowest weighted average liability spreads based on discount margins (DMs) year-to-date (YTD) now include AGL CLO 33, Symphony CLO 41, AGL CLO 32, Palmer Square CLO 2024-2, and Lodi Park CLO. Deals without reported DMs are excluded from the calculation.
A sample of 1,610 US BSL CLO deals (vintage 2013–2023) is included in this study. Deals with a collateral pool...
As of July 19, 2024, the latest arbitrage metric was recorded at 223 bps, a visible improvement thanks to the recent tightening of CLO liabilities without the corresponding asset spread compression.
As of 19 July 2024, the latest arb metric was recorded at 249 bps, significantly higher than the median value of 219 bps for 2023. More recently, the upward trajectory of the arbitrage trend has continued, thanks to tighter liability prints without corresponding asset spread tightening.
US CLO Manager Report: Oak Hill Advisors (OHA)
US CLO Manager Report: GoldenTree AM
US CLO Manager Report: Golub Capital
US CLO Manager Report: Generate Advisors
