Friday’s pricing of a single new-issue collateralized loan obligation, plus five refinancings and resets of existing CLO transactions, pushed year-to-date market volume activity to $105 billion, according to S&P Global Ratings.
The ratings agency reported that Friday’s pricings included the new issue $409 million Ballyrock CLO 15; the refinancings of the $262 million Guggenheim CLO 2020-1, the $528 million Voya CLO 2017-2, and the $285 million MidOcean Credit CLO VIII; along with resets of the $1 billion Elmwood CLO II and the $517 million Audax Senior Debt CLO 1.
The 2021 deal tally is split between $37 billion in new-issue transactions along with $68 billion in refis/resets, according to S&P.
In Europe, over €25 billion in CLOs have priced so far in 2021, including €7 billion in new-issue and €18 billion in refi/resets. The record volume for an annual total in the European market is approximately €46 billion in 2017.
