Sales in European Collateralized Loan Obligations Hit Post Financial-Crisis Record
- New issuance this year nears $35 billion, surpassing 2019 high
- Higher yields, floating-rate nature boost CLO appeal
Office workers commute to work in the La Defense financial district of Paris, France.
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
Annual sales of new collateralized loan obligations reached a post-financial crisis record in Europe, a symbolic milestone for the asset class that was once seen as a niche corner of the debt market.
Nearly 30 billion euros ($35 billion) of new deals have priced this year, surpassing the previous high set in 2019, according to data compiled by Bloomberg. In the U.S., volumes also hit a record earlier this month.