Basic Premium

A sample of 1,658 US BSL CLO deals (vintage 2013–1H 2025) is included in this study. Deals with a collateral pool factor below 55% are excluded.

AAA/AA investors are always thinking about systemic risks, and one way to reduce this risk is to minimise overlap exposure within their portfolios. The beauty of this model is that users can choose from a pool of CLO deals managed by managers they favour and optimise the portfolio for the lowest possible overlap risk based on the target number of positions they are looking to hold. Please find the download link below for the overlap optimisation model, which allows users to select from a pool of US BSL CLO deals to be added to an existing portfolio, with the model identifying the optimal outcome from an overlap perspective.

Please find the download link below for the overlap optimisation model, which allows users to select from a pool of EU CLO deals to be added to an existing portfolio, with the model identifying the optimal outcome from an overlap perspective.

Yesterday’s US BB CLO BWIC highlighted strong demand for top-tier names with higher MVOC levels, as reflected in their tighter DM prints relative to benchmark levels. Benchmark levels refer to the average DM prints by MVOC and manager tiering, based on BWIC trading colour observed since mid-April.

Please find below the download link for the interactive CLO manager collateral AUM ranking tables.

A sample of 1,658 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 581 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 (BB–B) and equity NAV of US BSL and EU CLO deals by vintage, based on asset prices as of 15 May 2026.

Using a sample of US BSL CLO BB bonds with reinvestment end dates between 2029 and 2031 that have been placed on BWIC since 14 April (with released trading colour), it is interesting to observe that both MVOC and manager tiering play an important role in pricing. As the loan market improves, MVOC generally strengthens, allowing BB bonds to trade at tighter levels. That said, for top-tier bonds, pricing appears to become less sensitive to further improvements in MVOC once it reaches a level of around 106.

Quite a number of top-tier reset deals priced this month, including deals from OCP, Barrow Hanley, CIFC, AIMCO, and OHA, with blended AAA tranches pricing in the range of 121–129 DM.

This file tracks reported WARF trends across 129 US BSL CLO managers, with monthly data going back to April 2013. Select up to ten combinations of managers and vintages from the dropdown menus, and the chart will instantly compare their WARF levels against one another.

This file tracks reported WAS trends across 66 European CLO managers, with monthly data dating back to July 2013. Select up to ten managers from the dropdown menus to compare manager-level spread trends relative to peers and the market average over time.

This file tracks reported WAS trends across 129 US BSL CLO managers, with monthly data going back to April 2013. Select up to ten managers from the dropdown menus, and the chart will instantly compare their spreads against each other and against the market average.

A sample of 1,663 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 581 EU CLO deals (vintage 2013–1H 2025) is included in this study. Deals with a collateral pool factor below 60% are excluded.