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EU CLOs: Impact on Equity Distributions from Funding Delayed-Issuance Single-B Tranches

The following EU CLO deals issued and priced their single-B tranches this year. These were initially structured for delayed issuance and consequently not available at the time of issue. From an equity perspective, justifying the high cost of issuing the single-B tranche at a very wide level can be challenging unless equity investors are convinced…

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