Tag Archives: AAA

While the Morningstar LSTA US B/BB Ratings Loan Index has recovered to just below 97 today—after hitting a low of...

Late last week, approximately $240 million of long-dated AAA tranches (with reinvestment periods ending between 2029-2030) changed hands, as shown in the table below. Top-tier prints were mainly in the 150 DM area. For example, MAGNE 2024-42A A1 traded with a cover bid of 150 DM.

Although too much should not be read into last Friday’s BWIC trading colour for EU CLO AAA tranches—given the relatively small notionals involved—these trades still offer valuable insight into current secondary AAA pricing.

The loan index's moving 4-week average discounted spreads are used as a proxy for the discounted spreads of US BSL CLO portfolios. On average, seasoned US BSL CLO managers have closely tracked the return performance of this loan index across all three metrics: annualized total returns, MV returns, and interest returns.

The table below shows the estimated historical median new issue MM CLO pricing DMs for AAA/AA/A/BBB when the four-week moving...

Partners Group achieved an impressive milestone with an AAA print of 136 bps for its Penta CLO 17 deal on...