Since closing, the deal’s reported WAS has declined from 415 bps to 370 bps as at 29 August 2025. However, its recent reset offset the impact of asset spread compression, cutting WACC by roughly 31.2 bps while extending the RP by 1.5 years.
AVOCA 31X SUB traded with a cover bid of 79.02 (source: SCI). This 2024 deal closed on 6 September 2024, with its non-call period ending on 5 March 2026 and a reinvestment end date of 15 April 2029. Its current WACC stands at 196 bps, with the AAA tranche priced at Euribor +125 bps.
Yesterday saw active trading in CLO equity. Blackstone, RBC BlueBay, Alcentra, and PGIM See Equity Tranches Stand Out in BWICs
Avoca CLO XXIX was recently reset, with its AAA tranche pricing at 128 bps — the tightest among recent resets.
RRE 6 Loan Management’s reset was recently priced, with its AAA tranche at 131 bps, the tightest among its reset peers. But it still offers strong value to investors.
OHA Credit Funding 10-R CLO priced its AAA tranche today at 126 bps—the tightest level recorded since early April 2025. Other AAA reset prints over recent days ranged between 128 and 137 bps.
