New triple-A buyers step in as NY Life prints game-changing CLO

By Sayed Kadiri

A major development took place in the CLO market yesterday as new issue triple A spreads tumbled to 140 basis points over Libor

Subscriber-only article

This article is available only to Creditflux subscribers and free trial users within 30 days of publication.

Already a subscriber? Not logged in? Click here to login.

If you have not already done so,
you may request a FREE TRIAL by clicking here

This trial will give you:
  • 4-weeks' free online access to our
    most recent subscriber-only articles
  • Daily breaking news alert sent by email
  • A print copy of Creditflux

If you currently have a free trial, you will see this message when you try to view articles older than 30 days.

TAGS: BofA

View details on CLO-i: Flatiron CLO 2014-1

Comment by: Anonymous. Posted 9 years ago [2014-06-08 16:23:48]

Here's an idea! Imagine that the "mystery buyer" of the AAA tranche is the Fed! Adding CLO senior bonds to QE could be a Fed tool to boost corporate lending. In the UK, this could be a replacement for funding-for-lending. Mario Draghi should get credit for the scheme with his talk of ECB purchases of SME CLO paper. (Just to add, my opinion is that all of this would be poor policy, but it would make a good story!)