(Bloomberg) Over the coming year Europe’s collateralized loan obligation market will build on the themes that helped it smash through record after record in 2017. New issue volume hit 20 billion euros ($23.7 billion) this year, the most since the market recovered from the financial crisis. Other records included era tight liability spreads and the largest post-crisis transaction, as well as the largest monthly issuance post-crisis. But while celebrating the year’s successes, pressure points are emerging and managers are concerned about how long overheated conditions in the credit market can last.
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Four Themes to Watch in European CLOs After Groundbreaking Year
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