CLO primary, refinancing action quiets ahead of holiday; securitized secondary active

By Cristal Cody

Tupelo, Miss., Nov. 21 – The CLO primary and refinancing markets were quiet on Tuesday with no reported issuance or settlements.

Nearly $100 billion of new CLOs have priced and more than $145 billion of vintage CLOs have been refinanced and/or reset year to date, according to market sources.

New deal volume is expected by market participants to exceed $100 billion for the total year.

Elsewhere, the securitized secondary market has been active over the past week after seeing slow trading in October, according to a market source and the latest data from Trace.

During Monday’s session, $108.17 million of high-grade CBO/CDO/CLO securities and $104.64 million of non-investment-grade issues were traded.

On Friday, $205.9 million of investment-grade issues and $69.75 million of lower-rated securities were traded.

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