CLOs

摘要

The CLO primary space saw two deals price at the tight end of the market last week, defying recent spread widening that has stifled issuance in the asset class. Blackstone's cso capital partners priced the €238m senior notes of its Tymon Park CLO trade at 150bp over three-month Euribor on Wednesday, according to sources. The deal, which totals €414m, was led by Bank of America Merrill Lynch. This fell in the the tight end of the market, which has recently seen seniors printed as wide as 155bp. "That will hopefully set a benchmark for near-term future transactions," said one CLO manager. Secondary CLO spreads have also been under pressure, with senior notes trading between 150bp and 160bp in recent weeks.