Deals
CLOs’ $94 Billion Sales Record Poised to Crumble
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The business of bundling leveraged loans into top-rated securities is poised as soon as next month to break the record set in 2006.
Carlyle Group LP and Blackstone Group LP are among firms that have raised more than $90 billion of collateralized loan obligations this year in the U.S., approaching the all-time high of $94 billion set eighth years ago, according to data compiled by Bloomberg and JPMorgan Chase & Co. The bank boosted its 2014 CLO issuance forecast to as much as $115 billion from $100 billion, while Wells Fargo & Co. raised its prediction to $125 billion.