Does secondary market visibility influence new issue pricing in CLOs?
Visibility is no longer just a byproduct of secondary trading but a potential driver of new issue price performance for managers
A new study of BSL deals issued between 2020 and 2025 finds compelling evidence of a statistically significant correlation between the two. The data shows that CLO managers with higher secondary market visibility achieved measurably tighter new issue cost of debt, with consistent visibility emerging as a reliable signal of forward pricing strength.
The results point to a “visibility premium” for active participants: lower cost of debt for managers, clearer signals for investors, and a way for banks and arrangers to deliver more value to their clients.
In this webinar, Entegra and SOLVE experts will walk through the study’s methodology, key findings, and strategic implications. We will explore how visibility is no longer just a byproduct of secondary trading but a potential driver of new issue price performance for managers.
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About SOLVE
SOLVE is the leading market data platform provider for fixed-income securities, trusted by sophisticated buy-side and sell-side firms worldwide. Founded in 2011, SOLVE leverages its AI-driven technology and deep industry expertise to offer unparalleled transparency into markets, reduce risk, and save hundreds of hours across front-office workflows. With the largest real-time datasets for Securitized Products, Municipal Bonds, Corporate Bonds, Syndicated Bank Loans, Convertible Bonds, CDS, and Private Credit, SOLVE empowers clients to transform the way they bring new securities to market, trade on secondary markets, and value highly illiquid securities. Headquartered in Connecticut, with offices across the globe, SOLVE is the definitive source for market pricing in fixed-income markets.
