CLO BWIC, securitized secondary trading activity remains light after previous pickup

By Cristal Cody

Tupelo, Miss., Oct. 12 – CLO BWIC volume and securitized secondary trading volume has been mixed over the week, according to market sources.

Market activity picked up on Wednesday but was fairly light on Thursday, a source said.

Securitized secondary market volume on Wednesday included $135.39 million of high-grade CBO/CDO/CLO issues and $101.91 million of non-investment-grade securities, according to Trace.

On Tuesday, $21.53 million of high-grade issues and $56.72 million of non-high-grade securities were traded. The bond markets were closed on Monday for the Columbus Day holiday.

CLO secondary trading has thinned since new issuance picked up in September with spreads mostly unchanged across the capital structure, according to market sources.

More than $70 billion of new U.S. CLOs have priced year to date, compared with more than $120 billion of refinancing and reset transactions brought to market in 2017, sources report.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.