Daily Analytic: US BSL CLO issuance falls 23% in 2023, MM/PD CLO volume more than doubles

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US CLO issuance declined by 10% in 2023 to US$115.6bn, down from US$128.9bn in 2022. Notably, however, there was a marked difference in the direction of broadly syndicated loan (BSL) CLO activity compared to that of middle market/private debt CLOs.