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April 2026

CLO monthly insights 

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September 2026

CLO monthly insights 

Access the latest data from U.S. Bank

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This month’s highlights

CLO collateral continues to perform in line with expectations, despite elevated inflation and geopolitical uncertainty. BSL Junior OC cushions increased nine bps to 4.53% despite Caa bucket levels increasing nine bps to 3.82%. Refinancing activity slowed slightly with 27 CLOs refi/resets during the month (232 CLOs YTD), as tighter spreads remain advantageous. There were two new loan issuer defaults of negligible size in July across U.S. Bank trusteed BSL CLOs.

August warehouse activity:

143 open warehouses in the U.S., up 10 from last month
• +20 new warehouses
• -10 warehouses: 10 closed to CLOs

81 open warehouses in Europe, down one from last month


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Connect with us at ABS East
We're looking forward to joining industry leaders in Miami for this year's ABS East conference. If you'll be attending, stop by our booth to say hi to our team. Be sure to catch Matthew Clarkin as a panelist on "In the Red Corner" BSL CLOs: Squeezing the Arbitrage on Tuesday, October 20, at 9 a.m.

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Ranked No. 1 Global CLO Trustee
  • Asset-Backed Alert, March 2026
Best Trustee Award for the fourth consecutive year
  • DealCatalyst U.S. CLO Awards, April 2026
U.S. CLO Trustee of the Year for the sixth consecutive year
  • GlobalCapital, May 2026
U.S. Securitization Trustee of the Year
  • GlobalCapital, May 2026

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