Leveraged Loan Insight & Analysis – 5/10/2021

US$93.8bn of CLO issuance priced and closed in 2021 to date


In another indication of robust leveraged loan market activity in 2Q, the CLO calendar continues to grow at a record pace. There has been US$148.4bn of US CLO volume recorded so far in 2021, split between US$54.6bn of new issues, US$53.3bn of refinancings and US$40.5bn of resets or reissues. The average Triple-A DM for April’s new issue activity was 114.8bp, while the tightest Triple-A repricing was 90, executed via PGIM’s Dryden 72 CLO which closed on April 29.