Blackstone, RBC BlueBay, and Others See Equity Tranches Stand Out in BWICs (Updated)
Yesterday saw active trading in CLO equity. Blackstone, RBC BlueBay, Alcentra, and PGIM See Equity Tranches Stand Out in BWICs
Yesterday saw active trading in CLO equity. Blackstone, RBC BlueBay, Alcentra, and PGIM See Equity Tranches Stand Out in BWICs
Yesterday saw a relatively long list of CLO equity tranches on BWIC. Among them, SIXST 2021-17X SUB stood out, ranking in the top quartile of its 2021-vintage peers.
Last week saw active BB tranche trading, with approximately 68 CLO BB bonds totalling around $220 million in notional listed on BWIC, of which 79% traded.
Among the 15 EU CLO deals priced since 25 June 2025, top-tier (tightest 10%) pricing for AAA, AA, A, BBB, BB, and B tranches was 131.4, 190, 222, 310, 560, and 850 bps, respectively. CIFC European Funding VII and Fidelity Grand Harbour CLO 2025-1 priced their AAA tranches at 131 bps — among the tightest levels recorded.
US CLO Manager Report: CIFC
This study includes a sample of 439 seasoned deals that have concluded their reinvestment periods.
