Pre-holiday deal rush caps record monthly CLO issuance

With 11 U.S. CLO managers pricing approximately $5.5 billion in deals this week, primary market volume for November has reached $22.9 billion to set a new monthly CLO issuance record heading into the holiday weekend.

According to LCD data, the November mark represents the second consecutive month, and third in the last four, in which the CLO market has achieved a new all-time monthly high. In October, CLO issuance reached $19.8 billion to edge out the prior mark of $19.2 billion in August.

The new-issue CLO market has already established a new annual volume mark that stands at $172.9 billion for 2021, as well as a new record manager count of 121, as booming institutional demand for CLO securities remains active.