STABILIZING DEFAULT RATES, tightening credit spreads and improving investor confidence have all underpinned the rally in the loan markets this year. They have also spurred a remarkable renaissance in the US CLO market.
The market’s largest CLO manager, Babson Capital Management, says the structure has proved its mettle. “To varying degrees global investors are going to look back through the historical lens and ask how did this asset class perform versus similar types of risk. These structures did just about everything they were expected to.
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