US BSL CLO Managers Ranked by MVOC (BB) as of June 26, 2026
A sample of 1,651 US BSL CLO deals (vintage 2013–1H 2025) is included in this study. Deals with a collateral pool factor below 55% are excluded.
A sample of 1,651 US BSL CLO deals (vintage 2013–1H 2025) is included in this study. Deals with a collateral pool factor below 55% are excluded.
A sample of 574 EU CLO deals (vintage 2013–1H 2025) is included in this study. Deals with a collateral pool factor below 60% are excluded.
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 26 June 2026.
A sample of 1,654 US BSL CLO deals (vintage 2013–1H 2025) is included in this study. Deals with a collateral pool factor below 55% are excluded.
The technically strong loan market, with around half or more loans trading above par, has resulted in a relatively active month-to-date secondary market for EU CLO single-B tranches. A total of 27 single-B tranches have traded on BWIC with trading colour available (source: Structured Credit Investor). For deals with reinvestment periods ending between late 2028 and 2030, discount margins (DMs) based on cover prices span a wide range, from 830 bps to 1,340 bps. As shown in the table in this article, DMs can rise sharply once MVOC falls into the 102.0%–102.5% range, with levels approaching 1,000 bps. Beyond this point, DMs tend to widen disproportionately with each incremental decline in MVOC, highlighting the increasingly asymmetric risk profile of investing in single-B tranches...
A sample of 577 EU CLO deals (vintage 2013–1H 2025) is included in this study. Deals with a collateral pool factor below 60% are excluded.
