Virgin Media exposure across the EU CLOs shown totals €1.92bn across 605 deals, comprising €1.71bn in loans and €205.9m in bonds. Average exposure is €3.17m per deal, or 0.79% of portfolio size.
US CLO exposure to Virgin Media term loans totals $2.16bn across 1,269 deals, averaging $1.70m per deal, or 0.43% of portfolio size. Exposure is widely distributed, although average position sizes vary considerably across managers.
EU CLO exposure to Virgin Media term loans totals €1.71bn across 560 deals, averaging €3.06m per deal, or 0.76% of portfolio size.
Total exposure is €1.12bn across 41 managers and 381 deals, averaging €2.93m per deal, or 0.81% of portfolio size.
Total exposure is €438.2m across 26 managers and 214 deals, averaging about €2.0m per deal, or 0.51% of portfolio size.
In EU CLOs, total exposure to Merlin TL stands at €531.3m across 245 deals and 34 managers, averaging €2.17m per deal, or 0.56% of portfolio size. Exposure is relatively concentrated among a small group of managers. In comparison, US CLO exposure to Merlin TL totals $1.03bn across 701 deals and 42 managers, averaging $1.46m per deal, or 0.31% of portfolio size. Despite the larger overall exposure, it is spread across considerably more deals, resulting in a notably lower average exposure per deal relative to portfolio size than in EU CLOs.
