SCIWire

US CLOs slumber on

Thursday 20 April 2017 14:00 London/ 09.00 New York/ 22.00 Tokyo

The slumber seen in the US CLO secondary market pre-Easter is continuing.

Despite broadly positive market sentiment, volumes continue to be light as investors look to hold on to the paper they have. As result, secondary spreads across the capital structure and vintages are unchanged over the past week or so.

There are two BWICs on the US CLO calendar for today so far. First up at 11:00 New York time is a $23.6+m seven line triple- and double-B combination comprising: BABSN 2016-2A E, BRIST 2016-1A D, CIFC 2017-1A D, OCT27 2016-1A E, OCT30 2017-1A C, SEVEN 2016-1A D and VOYA 2016-3A C. Only BABSN 2016-2A E has covered on PriceABS in the past three months - last doing so at 101.01 on 30 March.

Then at 14:00 there is a pair of triple-As - $12m CIFC 2015-5X A1 and $12.494m OZLM 2015-13X A1A. Neither bond has appeared on PriceABS before.

20/04/2017 14:00:15