CLO AAA, mezzanine notes active; post-Labor Day secondary trading light

By Cristal Cody

Eureka Springs, Ark., Sept. 7 – CLO AAA-rated and mezzanine notes are active in the secondary market in post-Labor Day trading, while secondary trading overall is thin, according to market sources on Wednesday.

On Tuesday, $53.4 million traded in 10 high-grade CBO/CDO/CLO issues and $50.15 million traded in 16 non-investment-grade CBO/CDO/CLO securities, according to Trace.

Coming up in the primary market, CLO managers including Octagon Credit Investors, LLC are expected to price new CLOs. Octagon is marketing the $605 million Octagon Investment Partners 28, Ltd./Octagon Investment Partners 28, LLC deal via Morgan Stanley & Co. LLC.

Nearly $40 billion of U.S. CLOs have priced year to date, according to Prospect News data.

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