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CLO MARKET TRENDS: NOVEMBER 2023

What does the data say? - November Edition: CLO market trends, volumes, and liquidity. Join us for our next webinar: December 12, 2023 at 4pm EST.

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NEW: CLO MANAGER PROFILE

Compare CLO manager capabilities with real-time profile data in a standardized format, including key personnel, managed CLOs, and ESG framework.

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New electronic trading protocol: DirectBidding

Access liquidity from the buy-side and the sell-side simultaneously. Buyers bid directly and anonymously. Join the fastest-growing CLO marketplace.

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Announcing KTX DirectBiddingTM

Where buy-side
firms
negotiate
directly and
trade
anonymously

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PRODUCT SUITE

AMR Refinancings

Multi-dealer Dutch auctions

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Electronic Trading

Centralized marketplace
with seamless execution

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Issuance Monitor

Centralized portal for
primary issuance

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CLO Inventory

Aggregation tool for broker-dealer inventory

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Market Monitoring

Dashboard with volumes, health indicators & portfolio tracking

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Latest News

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US CLO market healthy despite secondary trading drop

November 15, 2023

In a recent interview with Victoria Thiele from GlobalCapital, Rob Shrekgast emphasized that despite a weakening loan market and wider mezzanine spreads in October, the US CLO new issuance activity remains robust. CLO new issuance increased to $11.9bn in October, making it the second-busiest month of the year. With BWICs falling to $3.9bn in October, Shrekgast suggests sellers are cautious amid market uncertainty.

Katayama Credit in US market for debut CLO

September 19, 2023

Rob Shrekgast in his interview with GlobalCapital highlights the evolving dynamics in the CLO market, with tier one managers achieving mid-160bp spreads on triple-A notes, while debut managers, paying at around 205bp-210bp. Despite the tightening spreads seen in the capital stack throughout the year, Shrekgast cautioned that further tightening might be harder to achieve.

Creaky credit sparks ‘high’ dispersion in CLO pricing

August 02, 2023

Article by Nathan Tipping on Risk.net discusses the resurgence of dispersion in credit markets following 18 months of central bank rate hikes. This trend is particularly noticeable in collateralized loan obligations (CLOs), where pricing has become fragmented, as evident from data provided by KopenTech. The dispersion is attributed to various factors, including differing manager reputations, changing loan market dynamics, and variations in market value of over-collateralization (MVOC) profiles.

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