Manager prices large US CLO amid rumoured interest from Japan

By Sayed Kadiri

Wednesday, January 29, 2014

An established loan manager has priced a CLO following a $207 million up-size.

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TAGS: LCM Morgan Stanley

View details on CLO-i: LCM XV

Comment by: Anonymous. Posted 11 years ago [2014-01-30 01:26:19]

To choose the E-2 over the E-1 means to pay an extra 3.6 points upfront for 55 bps pa of coupon. That implies a spread duration of about 8 years. Perhaps there are model inputs that make this result "right," but it feels wrong. Likely better to take the E-1 at pricing shown.

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