Leveraged Loans: Despite Easing In 3Q, CLO Issuance Hits Post-Lehman High

CLO issuance in the U.S. has taken a bit of a breather lately, though recent activity has put year-to-date volume at $57.5 billion, the most since the pre-Lehman period of 2007 and 2008, according to S&P Capital IQ/LCD. The 2013 figure just eclipses the full-year 2012 total of $54.3 billion. The U.S. CLO market has logged $5.3 billion in vehicles so far in September. While a respectable pace, it is well off the gaudy numbers posted earlier in the year (there was $9 billion of issuance in January...