Carlyle puts sub-100bp CLO in reach

摘要

Carlyle on Thursday became the second CLO manager in as many weeks to sell euro Triple As at just 100bp, putting the once unthinkable prospect of seniors at a double-digit spread within touching distance. The US private equity and alternative asset giant cleared its €415m CGMSE 2016-2 CLO with €232m Triple A Class A1 notes at Euribor plus 100bp, sold at par. This matches the level achieved by KKR a week earlier on its Avoca ⅩⅦ trade, which was the lowest spread seen on CLO seniors post-crisis.