CLO primary market action quiet; securitized secondary trading volume thins

By Cristal Cody

Tupelo, Miss., March 7 – New reported CLO issuance and secondary CLO market activity has been quiet so far this week, according to sources.

During Monday’s session, $43.26 million of high-grade CBO/CDO/CLO issues and $87.34 million of non-investment-grade issues were traded, according to Trace.

Friday’s session saw more secondary market volume. Trace reported $137.42 million of investment-grade securities and $164.31 million of lower-rated issues trade.

The new issue market has been thin year-to-date compared to refinancing activity. Refinancing volume year-to-date totals nearly $28 billion, while new 2017 issuance totals about $9 billion, according to J.P. Morgan Securities LLC.

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