European CLOs Rush to Refinance as Market Makes Up for Lost Time
- Year begins with 4.3 billion-euro rush to refinance deals
- Sustained high volumes could pressure CLO debt spreads
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Tumbling debt spreads are spurring a rush to refinance collateralized loan obligations as managers seize an opportunity to eke out better terms on older deals.
As many as 12 transactions worth 4.3 billion euros ($5.2 billion) have already priced this year in what may herald the start of months of intense activity.