Structural innovation

Category: CLOs

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Evolution of Euro CLOs set to continue

European CLOs issued during 2021 have started to resemble pre-pandemic deals, with par subordination returning to the 38%-40% range compared with 42%-44% for CLOs issued last year. At the same time, documentation and structural features continue to evolve in response to the challenging environment, adding further flexibility for effective management of CLO portfolios.

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