Europe’s CLO Managers Snap Up Leveraged Loans as Prices Drop
- Loan prices fall most since March 2020 on secondary market
- Prices were already falling on monetary tightening concerns
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European CLO managers are snapping up leveraged loans in the secondary market after jitters about credit risk triggered by Russia’s invasion of Ukraine drove prices down to their lowest levels since late 2020.
The average price of existing loans on the S&P Leveraged Loan Index fell 1.4% in February to 97.4 cents on the euro, the sharpest monthly decline since the start of the pandemic in March 2020.