Priced: RRAM 2023-25 (Redding Ridge) USD BSL CLO reset via BofA
TL;DR
Redding Ridge Asset Management reset its RRAM 2023-25 USD BSL CLO via Bank of America on February 22, 2026, optimizing collateral during reinvestment periods amid favorable market conditions. The reset reflects broader industry trends in CLO refinancing, though analysts are divided on its sustainability for 2026.
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Priced: RRAM 2023-25 (Redding Ridge) USD BSL CLO reset via BofA
Redding Ridge’s RRAM 2023-25 CLO Completes Reset via BofA Amid Broader Market Momentum
On February 22, 2026, Redding Ridge Asset Management successfully executed the reset of its RRAM 2023-25 USD BSL CLO through Bank of America, marking another step in the manager's ongoing strategy to optimize collateral performance during extended reinvestment periods. All of Redding Ridge's European and U.S. CLOs remain within their reinvestment periods, allowing the firm to replace maturing loans with newer, higher-yielding assets.
The reset process reflects broader industry trends, as collateralized loan obligations (CLOs) continue to benefit from favorable refinancing conditions and strong demand for leveraged loans. Market participants have noted increased activity in U.S. CLO resets and refinancings in 2025 and early 2026, driven by attractive interest rate differentials and a robust pipeline of investment-grade corporate debt. However, analysts remain divided on whether this momentum will persist throughout 2026, with some cautioning that potential shifts in credit markets or regulatory developments could alter the trajectory.
For RRAM 2023-25, the reset via BofA aligns with Redding Ridge's approach to maintaining portfolio liquidity and credit quality. The transaction involved repricing the CLO's floating-rate notes and adjusting collateral compositions to reflect current market conditions. Investors observing the trade have highlighted the transaction as a case study in active CLO management amid evolving interest rate expectations.
While the reset underscores the resilience of the CLO sector, stakeholders are closely monitoring macroeconomic indicators and Federal Reserve policy signals for potential impacts on future refinancing activity. With reinvestment periods for many CLOs set to expire in the coming years, the ability to execute efficient resets will remain a critical factor in sustaining returns for investors.
GlobalCapital, November 4, 2025: GlobalCapital, November 4, 2025.
S&P Global Ratings, 2026 analysis: S&P Global Ratings, 2026 analysis.
