CLO, Securitized-Debt Sales Are On Fire as Investors Hunt For Yield
- CLO issuance queue “like a ride at Disney World”: Onex
- ABS issuance up 45% from last year, CLOs ahead by 150%
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Demand is booming this year for securitized debt, as sales have not only recovered following last year’s Covid-induced dip, but are even eclipsing the pace of previous strong years.
Sales of new CLOs, for example, are up an astounding 152% compared to the same time last year, and that’s not even including what some are projecting to be an all-time record issuance year for refinancing and resets of older deals, according to data compiled by Bloomberg. The pace of unrelenting business has been so mind-boggling that deal participants such as lawyers have regularly been pulling all-nighters to get transactions out the door.