CHICAGO--(BUSINESS WIRE)--The European collateralized loan obligation (CLO) market saw an increase in issuance during 2Q15 while issuance in the U.S. steadied, according to Fitch Ratings' Global CLO Market Trends Quarterly newsletter.
In Europe 11 CLOs issued EUR4.5 billion of notes and equity during 2Q compared with EUR3.2 billion in 1Q. Credit enhancement also ticked up to 40.6% from 40.1% during Q1, while stated spreads were stable at 131 bps over Euribor.
During 2Q CLO issuance in the U.S. totaled $27.9 billion, on par with the prior quarter's level of $28.3 billion. Twenty five deals priced in June alone accounting for $12.8 billion.
Fitch's latest 'Global CLO Market Trends Quarterly' newsletter is available at 'www.fitchratings.com'.
Additional information is available at 'www.fitchratings.com'.
Global CLO Market Trends Quarterly