Talking Libor transition with Dan Ko, Eagle Point Credit Management
Cloud 9fin
The State of CLO Formation in the Second Quarter
CLOs some 60% of the loan market, and it's such a big driver of what we see on the primary side in the loan market. We were pretty much not doing any new issue CLOs since kind of middle of last year because we thought that secondary was way more attractive to the tune of 800 to 1000 basis points of additional return. But there are these captive funds that are out there that are doing new issue CLO,. And so I mean the market has continued to hum on by, and you know, issuance is kind of at roughly the pace that we saw kind of last year and headed towards another 100 billion plus sort of issuance year.
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