Jan 27, 2012
- Marissa Capodanno
CLO Pipeline Starts To Produce
Collateral manager Symphony Asset Management has closed its Symphony CLO VIII, a $349 million cash flow arbitrage CLO comprising a revolving pool of broadly syndicated senior secured loans. Credit Suisse Asset Management was also seen tapping the CLO pipeline post-ASF2012, launching its Madison Park CLO this week.
Symphony CLO’s floating-rate notes comprise a $240 million AAA-rated A class, priced at 155 basis points over three-month LIBOR; a $43.75 million, AA-rated B class at 250 bps over three-month LIBOR; a $29.25 million, A-rated C class at 315 bps over three-month LIBOR; an $18.75 million, BBB-rated D class at 460 bps....