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Review: The Reset of RAD CLO 16

The reset of RAD CLO 16, managed by Irradiant, was very much expected given its high Weighted Average Cost of Capital (WACC) of around 285 basis points (bps), accounting for the ‘out-of-money’ fixed-rate tranche. Before the reset, this deal featured a class A2 note with a fixed coupon of 4.7168%, significantly lower than its pari-passu…

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