After a large contingent of Dechert attorneys attended April’s IMN CLO and Leveraged Loan Conference, our CLO team returned home optimistic and eager to continue to play a significant role in the thriving CLO market. As the months quickly passed and the clock hit double zeros in the second quarter of 2013, the halftime statistics prove that Dechert has remained a go-to player to advise various participants in the CLO space. Based on statistics compiled by ABS Database and presented in a recent edition of the ABS-related publication “Asset Backed Alert”, Dechert led both the issuer and underwriter deal tables (by deal volume and deal count) for U.S. CLOs in the first half of 2013, serving as counsel in approximately $8 billion of issuances between January and June. The official breakdown: a balanced 9 issuer deals totaling more than $4.3 billion and 9 underwriter deals totaling more than $3.6 billion. With the second half of the year in full swing, our team, headed by partners John Timperio and Cynthia Williams, has showed no signs of letting up and hopes to close out the year the same way they started.
Click here for the official announcement from Dechert and to learn more about the broad variety of complex CLO transactions with which our attorneys are familiar.
By: Sean Solis and Eric Kotloff