CLO issuance in the US totaled $6.5 billion during February, down from the whopping $9 billion in January, though still an impressive number.
Indeed, through the first two months of 2013 the $15.5 billion of CLO issuance is well ahead of the pace set last year. While market accounts expect CLO activity to slow somewhat as this year progresses, the consensus is for some $75 billion in vehicles in 2012, the most since the pre-Lehman period of 2006-07.
Hefty deals continue to emerge. The largest CLO in February was the $727 million Sheridan Square vehicle, courtesy GSO/Blackstone Debt Funds Management.
You can read more on CLOs in LCD’s Loan Market Primer.