New York manager markets first CLO new issue in three years with high triple C allowance

By Hugh Minch

Monday, October 15, 2018

A New York-based manager is marketing its first new issue CLO since 2015 with high spread strategy

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TAGS: CLO Forthcoming Pricing Primary market North America Amherst Pierpont

Comment by: Hugh Minch. Posted 5 years ago [2018-10-15 15:56:13]

Further to the comment below, the CLO is not a middle market deal. It invests in high spread loans and has a higher allowance for triple Cs (upwards of 20%). Ellington has pioneered this strategy, typically investing in secondary loans which are broadly syndicated.

Comment by: Anonymous. Posted 5 years ago [2018-10-15 13:56:46]

Believe there is a name for it. Middle market...

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