From BB to Equity: CLO MVOC and Equity NAV (17 April 2026)
Below are tables presenting the MVOC (BB–B) and equity NAV of US BSL and EU CLO deals by vintage, based on asset prices as of 17 April 2026.
Below are tables presenting the MVOC (BB–B) and equity NAV of US BSL and EU CLO deals by vintage, based on asset prices as of 17 April 2026.
Below are tables presenting the MVOC (BB–B) and equity NAV of US BSL and EU CLO deals by vintage, based on asset prices as of 6 April 2026.
Among the 2012–2021 vintages, only 3.6% of EU CLO BB tranches show an MVOC below 100%, compared with 23.1% for US BSL CLOs. Meanwhile, 26.6% of US BSL deals report negative equity NAV, versus 30.0% for EU CLO deals.
Among the 2012–2021 vintages, only 2.7% of EU CLO BB tranches show an MVOC below 100%, compared with 22.6% for US BSL CLOs. Meanwhile, 25.7% of US BSL deals report negative equity NAV, versus 28.5% for EU CLO deals.
Among the 2012–2021 vintages, only 2.4% of EU CLO BB tranches show an MVOC below 100%, compared with 22.2% for US BSL CLOs. Meanwhile, 25.5% of US BSL deals report negative equity NAV, versus 28.0% for EU CLO deals.
Among the 2012–2021 vintage deals, only 2.1% of EU CLO BB tranches show an MVOC below 100%, compared with 23% for US BSL CLOs. Coincidentally, around 26.1% of both US BSL and EU CLO deals report negative equity NAV.
