US CLO portfolios: average loan trades
fell 7 to 13 points in March and April

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In the wake of the spread of COVID-19, as secondary loan prices plummeted, average US CLO portfolio trade prices fell between 7 and 13 points in March and April. By the end of April, sales prices were still declining, having lost 13 points since February’s 97.16, including an 8 point drop to 89.2 in March and another 4.84 points in April to a weighted average sale price of 84.4.