Ex-Credit Suisse bankers are shaking up the US$1.3 trillion CLO market

(Image: Bloomberg)

Fri, 16 Feb 2024

By Lisa Lee and Carmen Arroyo(Bloomberg) -- A crowd of large global banks is starting to muscle in on the lucrative business of arranging collateralised loan obligations, another sign that life is returning to this crucial US$1.3 trillion (NZ$2.1t) corner of corporate finance.Credit Suisse used to be a big arranger of collateralised loan obligations (CLOs) – vehicles that buy junk-rated company loans, bundle them together, and sell them as bonds. But the Swiss lender’s demise has opened the door to a raft of new contenders, inc...

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