Wells Fargo now expects issuance of collateralized loan obligations to reach $85 billion this year; that's some $15 billion more than it was calling for in December 2016.

The upward revision, announced last week, comes as nearly $28 billion of deals have been printed so far in the second quarter. Total volume of new deals stood at $46 billion as of June 19, more than double the pace of 2016 but trailing that of 2014 and 2015 at the year's mid-point.

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