Post-trade US CLO Equity BWIC Analysis: Selective Clearing Amid a Challenging Backdrop

On Tuesday, close to USD 200 million of US CLO equity tranches were offered on BWICs, with four majority stakes in circulation. Of these, only one majority stake traded. Market conditions remain challenging, with asset spread compression, elevated idiosyncratic risks, and several tranches attracting bids below clean equity NAV due to longer non-call periods.

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Post-trade US CLO Equity BWIC Analysis: Selective Clearing Amid a Challenging Backdrop

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Post-trade US CLO Equity BWIC Analysis: Selective Clearing Amid a Challenging Backdrop

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