Palmer Square Prices Over $1.8B In Collateralized Loan Obligations Within The Past Week
Portfolio Pulse from Benzinga Newsdesk
Palmer Square Capital Management has successfully issued over $1.8 billion in CLOs across three transactions in a week, including a $1.0 billion static CLO, marking significant activity in the credit market. The AAA tranche of this CLO achieved the lowest coupon static CLO AAA pricing of the year, indicating strong investor demand and confidence in Palmer Square's credit offerings. Citibank arranged the deal, highlighting its role in facilitating significant credit market transactions.
May 14, 2024 | 8:53 pm
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Citibank, as the arranger of Palmer Square's $1.0 billion static CLO, played a pivotal role in a transaction that achieved the lowest coupon static CLO AAA pricing of the year. This showcases Citibank's capability in structuring and executing complex credit market transactions, potentially enhancing its reputation and attracting more business in the CLO and broader credit market space.
Citibank's involvement in arranging a significant CLO deal with record-low AAA pricing highlights its expertise and could positively influence its reputation in the credit markets. This may lead to increased business and potentially positive short-term impacts on its stock as the market reacts to this demonstration of capability.
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