Bank of America Merrill Lynch is forecasting CLO issuance for 2012 of $15 billion, only marginally higher than the level it anticipates for the current year.

Two new issues totalling $1.4 billion priced last week, a $1 billion CLO brought by Guggenhiem Investment Management and a $400 million deal by Sankaty Advisors. That brought total issuance for 2011 to approximately $10 billion — several times more than the $2.5 billion issued in 2010 and was the first time the asset class saw issuance in “double-digit” territory since 2008, according to BofA Merrill.

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