Cayman Stock Exchange lists 26 CLOs

During the first half of 2019, 26 collateralised loan obligations were listed on the Cayman Islands Stock Exchange. Twenty-five of the listings came from Cayman Islands issuers with a Delaware co-issuer, Maples said in its semi-annual industry update ‘CLOser’.

The positive trend is expected to continue in the second half of the year with about 13 new issues already listed or in the pipeline, the update said.

Euronext Dublin, meanwhile, listed 84 CLOs from the US and Europe during the first six months of the year. Of these listings, 51 were by issuers domiciled in the Cayman Islands.

The market for US CLOs held steady in the first half of 2019 after a slow start in January. While the 168 new issues were just one fewer than during the same period in 2018, the average deal size declined to the US$400 million to $500 million range, according to the Maples industry update.