Collateralised loan obligation (CLO) transactions have long been a prolific investor in sub-investment grade corporate debt both in Europe and the US. The combination of the outbreak of SARS-CoV-2 and the related respiratory disease (coronavirus (COVID-19), the impact of coronavirus on such corporate debt and the CLO market’s reliance on such corporate debt has, very quickly, created a perfect storm affecting various aspects of the European CLO market. Claire Puddicombe, David Quirolo, and Daniel Tobias, all partners at Cadwalader Wickersham & Taft LLP discuss the impact of COVID-19 on the European CLO market.
Read the full article from Cadwalader Wickersham here: https://www.lexisnexis.co.uk/blog/banking-and-finance/what-are-the-economic-and-practical-effects-of-covid-19-on-the-european-clo-market
