US BSL CLOs: Tightest New Issue WACC YTD (Updated)
The top five deals with the narrowest weighted average liability spreads year-to-date (YTD) are GoldenTree Loan Management US CLO 20,...
The top five deals with the narrowest weighted average liability spreads year-to-date (YTD) are GoldenTree Loan Management US CLO 20,...
The top five deals, characterized by the narrowest weighted average liability spreads (AAA-BB) year-to-date (YTD), excluding the single-B tranche, are...
The top four deals, characterised by the narrowest weighted average liability spreads year-to-date (YTD), are Aqueduct European CLO 8, CVC Cordatus Loan Fund XXXI CLO, Avoca CLO XXIX, and Bridgepoint CLO VI.
The top four deals, characterised by the narrowest weighted average liability spreads year-to-date (YTD), are Avoca CLO XXIX, Bridgepoint CLO VI, Avoca CLO XXX, and Fair Oaks Loan Funding V CLO. This likely highlights the robust performance of these managers from a debt perspective. For a ranking of EU CLO new issue spreads YTD, based on the weighted average cost of liabilities, refer to the table in this article.
The dispersion between WACC is quite small, at less than 9 basis points (bps) between the 75th percentile deal and the 25th percentile deal.
It is interesting to note that, even among deals with identical AAA pricing, the all-in WACC can vary to a certain extent for US BSL CLO deals priced since mid-January 2024.
