Amid a slowdown in leveraged loans, new issuance has declined in the collateralised loan obligation market. However, as we discover, refinancings and resets are taking up the slack. Plus, innovation is never far away: witness the emergence of the CLO ETF.
Despite a slow M&A market, CLO issuance continues to grow as the product becomes more mainstream and piques the interest of investors. The ability to be flexible and take advantage of opportunities to make outsized returns are among the key attractions of this asset class.
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