Ahead of the Global ABS conference, a Friday flurry consisting of five CLOs priced quicker than you can say Barceloneta Beach. These deals brought European CLO issuance last week to over €1.8bn with one new issue, two resets and two refinancings priced on the final day of the month.

The late sprint lifted May’s new issue CLO volume to €5.87bn, according to 9fin data.

CLO volumes are soaring higher than the towers of La Sagrada Familia with May registering the highest monthly volume since January 2022 (€5.09bn). It brings year-to-date new issuance volumes to €21.47bn.

CLO issuance, however, is expected to be a lot quieter this week as the market basks in the Barcelona sun at Global ABS.