Investment banks successfully sold around $6.5bn (€4.7bn) of corporate collateralised loan obligations last month, proving there is still demand for structured credit products that part bundle leveraged loans despite broad market volatility.

The sale of CLOs, which with hedge funds have been one of the chief buyers of leveraged loans backing private equity buyouts, is a small triumph for a market that has been one of the worst hit by the tumult since June.