Schulte partners author chapter in International Comparative Legal Guide - Securitisation 2024 

Schulte Roth & Zabel partners Craig Stein, Phillip Azzollini, Daniel Oshinsky and Martin Sharkey’s chapter, “U.S. and EU CLOs: Market Trends and Recent Regulatory Developments,” was published in Global Legal Group’s International Comparative Legal Guide - Securitisation 2024.  

In this piece they explore current market trends and regulatory developments impacting the CLO market. In 2023, the market for collateralised loan obligations (CLOs) in the United States and Europe experienced significant fluctuations. Following a turbulent 2022, CLO managers anticipated increased investor demand. However, challenges arose early in the year, including notable bank failures in the US and concerns over inflation, SEC regulations, and the transition from USD LIBOR to SOFR. These obstacles hindered CLO issuance through the second quarter of 2023.  

However, many issues were resolved by the end of the third quarter, leading to a resurgence in CLO issuance. Additionally, there was a rise in middle-market CLO offerings, continuing into 2024.

Read the chapter here.