PGIM surprises with rare sterling CLO

By Asad Ali
21 May 2018

PGIM Fixed Income is in the market this week with a sterling denominated CLO offering, Dryden 63 GBP CLO 2018, arranged by NatWest Markets.

While the capital structure is yet to be disclosed, the announcement notes that the CLO will issue tranches rated triple-A to single-B secured by pool of sterling and euro denominated assets comprising loans and bonds.

PGIM's most recent European deal, Dryden 59 Euro CLO 2017, a €487.98m deal ...

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