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US CLOs’ overall exposure to SkillSoft 7/21 Cov-Lite is approximately USD 332 million. As of 20 January 2026, 345 US CLO deals, managed by 16 managers, reported an average deal-level exposure of around 25 bps.
A sample of 583 EU CLO deals (vintage 2013–1H 2025) is included in this study. Deals with a collateral pool factor below 60% are excluded.
Below are tables presenting the MVOC (AAA-B) and EQ NAV of US BSL CLO deals by vintage, based on asset prices as of January 16, 2026.
A sample of 1,723 US BSL CLO deals (vintage 2013–1H 2025) is included in this study. Deals with a collateral pool factor below 55% are excluded.
Below are tables presenting the MVOC (AAA-B) and EQ NAV of EU CLO deals by vintage, based on asset prices as of 16 January 2026.
This article examines how US CLO AAA tranches may look under various scenarios.
US CLOs’ overall exposure to Multi-Color 10/21 (USD) Cov-Lite TL is approximately USD 431 million. As of 16 January 2026, 297 US CLO deals, managed by 17 managers, reported an average deal-level exposure of around 35 bps.
US CLOs’ overall exposure to the Balcan Innovations term loan is approximately USD 355.4 million. As of 15 January 2026, 308 US CLO deals, managed by 23 managers, reported an average deal-level exposure of around 25 bps.
This article explores the periods during which entry into the EU CLO mezzanine market has historically been more favourable.
A sample of 1,731 US BSL CLO deals (vintage 2013–1H 2025) is included in this study. Deals with a collateral pool factor below 55% are excluded.
A sample of 591 EU CLO deals (vintage 2013–1H 2025) is included in this study. Deals with a collateral pool factor below 60% are excluded.
Below are tables presenting the MVOC (AAA-B) and EQ NAV of US BSL CLO deals by vintage, based on asset...
Below are tables presenting the MVOC (AAA-B) and EQ NAV of EU CLO deals by vintage, based on asset prices as of 9 January 2026.
As the loan market has become increasingly bifurcated, with a large proportion of loans trading above par, and idiosyncratic risks continuing to feature more prominently, selling into the current strength of the loan market may appear attractive to some lower-mezzanine investors.
New EU CLO issuance rose by around 24% year on year to approximately EUR 60 billion in 2025, building on...
