BWIC Highlights: Strong Demand for EU CLO BBBs Despite Differing Post-RP Dynamics

This week saw a list of seasoned EU CLO BBB bonds, all of which received covers well above par, with discount margins in a narrow range of 302–311 bps. This is despite their varying reinvestment end dates. Two bonds have passed their reinvestment period (RP) by over two years, one has just concluded its RP, and two have RPs ending in 2026.