European CLO market closes in on EUR 100bn size mark

European Chart of the Week, 22 February 2019

The European CLO market has grown rapidly in recent years, finishing 2018 at EUR 98.7bn in outstandings, and it looks to have topped the EUR 100bn mark this month following the issuance of several new deals.

CLO formation continued to serve as the major driver of demand for the European loan asset class in 2018, setting a new annual post credit crisis high of EUR 27.2bn. After a slow start to 2019 when only one deal priced in January, February has seen six deals price, taking the year-to-date new-issue volume to EUR 3.1bn. With another week left in the month, year-to-date new-issue deal flow is not too far off the EUR 3.6bn recorded in the first two months of last year.

In comparison, the US CLO market ended 2018 at USD 582bn in size and has added another USD 13.8bn of new-issue deals this year.

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Colm (C.J.) Doherty Global Head of Primary Market Analysis Debtwire

Colm Doherty is Debtwire’s Global Head of Primary Market Analysis. He is responsible for leading the production of primary market analysis and reports focused on the leveraged loan and high yield bond markets. Prior to joining Debtwire, Colm was Director of Analysis at Thomson Reuters LPC covering leveraged loans, CLOs and high yield bonds.

Colm has a B.A. in Economics & Legal Science from National University of Ireland Galway and an MSc. in Accounting & Finance from Ulster University.

Colm (C.J.) Doherty Global Head of Primary Market Analysis Debtwire

Colm Doherty is Debtwire’s Global Head of Primary Market Analysis. He is responsible for leading the production of primary market analysis and reports focused on the leveraged loan and high yield bond markets. Prior to joining Debtwire, Colm was Director of Analysis at Thomson Reuters LPC covering leveraged loans, CLOs and high yield bonds.

Colm has a B.A. in Economics & Legal Science from National University of Ireland Galway and an MSc. in Accounting & Finance from Ulster University.

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