After record issuance in 2018, the market for U.S. collateralized loan obligation vehicles is off to a cautious start, after the broader financial market gyrations of December and January. Through Feb. 8 there has been $6.36 billion of CLO vehicles priced, compared to $11.32 billion during the same period one year, according to LCD.
CLOs are special-purpose vehicles set up to hold and manage pools of leveraged loans. They are a critical component of the U.S. leveraged loan investor base, accounting for some 60% of all loans broadly syndicated to institutions.
LCD comps is an offering of S&P Global Market Intelligence. LCD’s subscription site offers complete news, analysis and data covering the global leveraged loan and high yield bond markets. You can learn more about LCD here.