The titans of collateralized loan obligations (CLOs) -- Apollo, BlackRock and Octagon -- have set the price of long-duration deals. The first trio of COVID-19 era three-year reinvestment period BSL CLOs priced in one week, despite challenging headwinds. Longer reinvestment periods are a requirement for hundreds of investors. The $1.2 billion in deals saw AAAs tighten to between 3ML+175 basis points (bps) and 185 bps. BlackRock via Goldman set the new benchmark. BlackRock's MAGNE XXVI $386 million issue was oversold from AAA to BBB- notes, said investor sources. Apollos' RRAM10 . . .
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