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Goldman To Market $400M Ares CLO

Global investment banking and securities firm Goldman Sachs Group is seeking to raise a collateralized loan obligation worth $400 million for Ares Management.

    Global investment banking and securities firmGoldman Sachs Groupis seeking to raise a collateralized loan obligation (CLO) worth $400 million forAres Management,Reutersreports. The CLO, known asAres XXIII CLO, comprises a $254 million AAA tranche, a $23 million AA tranche, a $40 million A tranche, a $21 million BBB tranche, a $18 million BB tranche and a $44 million equity tranche.

    It is scheduled to have a minimum 95 percent allocation of senior secured first-lien loans and a maximum 5 percent allocation of fixed rate-assets. The CLO, which carries a final maturity of 11 years, has a non-call period of two years.

    Click here for the story fromReuters.

    Click here for additional coverage fromBloomberg.

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