Following an active February, with over $13 billion in U.S. CLO issuance, many managers are still finding different avenues to work their way out of their warehouses, some of which are still underwater despite the ongoing recovery in loan prices from December (Through the first two months of 2019 U.S leveraged loans returned 4.18%).
Year to date, U.S. CLO issuance totals $18.79 billion, compared to $21.37 billion at this point last year, according to LCD. Of course, 2019 finished with a record $128.9 billion in issuance.
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