The record-setting pace of collateralized loan obligation sales is poised to kick into high gear as issuers get ahead of next year’s potentially messy transition to a new benchmark.
The London interbank offered rate must be retired for new leveraged loans — the building blocks of CLOs — by Dec. 31. That’s expected to cause volatility in 2022 as CLOs seek new benchmarks for the loans they repackage and bonds they sell for funding.
Volta Finance Limited (LON:VTA) is a closed-ended limited liability company registered in Guernsey. Volta’s investment objectives are to seek to preserve capital across the credit cycle and to provide a stable stream of income to its Shareholders through dividends that it expects to distribute on a quarterly basis.