Global credit funds & CLO's
August 2020
| Issue 226Published in London & New York.
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CLOs
August 2020 | Issue 226
Managers show creative side to price new issues
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AlbaCore Capital became the third debut European CLO manager of 2020 in late June, pricing AlbaCore I via Bank of America.
CLO managers are having to get creative to print deals. Owl Rock Capital priced a first-lien only new issue mid market CLO, Parliament Funding II; Columbia Management returned to the primary space for the first time since November 2018 and adopted AMR for all of its tranches in Cent 29; and CBAM priced CBAM 2020-12 with all of the CLO’s junior debt and all but $6 million of its equity put into one triple B rated tranche.
European CLO primary issuance (€bn)
US CLO primary issuance ($bn)
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