Europe new CLO deal market active; securitized secondary market volume climbs

By Cristal Cody

Tupelo, Miss., Sept. 27 – The European CLO deal market continues to remain active in September with a new €413 million transaction expected from Partners Group (UK) Management Ltd., according to market sources on Wednesday.

Final pricing details for the Penta CLO 3 DAC transaction were not immediately available.

More than €11 billion of new euro-denominated CLOs have priced year to date, including a handful of deals in September, according to market sources.

In other activity, CLO secondary market volume is gaining this week.

On Tuesday, $67.52 million of high-grade CBO/CDO/CLO issues traded, up from $22.2 million on Monday, according to Trace.

Secondary trading volume in non-investment-grade securities jumped to $144.14 million on Tuesday from $86.56 million of issues traded over Monday’s session.

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