IN BRIEF

摘要

The amount of legacy European CLOs outstanding is dwindling, according to Bank of America Merrill Lynch research, with high loan repayment rates and increasingly frequent calls depleting outstanding notes. The note published last Monday said that only €10bn of the €60bn notes rated Triple A before the crisis are still outstanding. Around €4bn of the €7bn Double A notes are left. The analysts note that spreads have widened for legacy CLO bonds throughout the year, despite their increasing scarcity and falling weighted average life.