Fair Oaks rejigs latest CLO ahead of pricing

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By Tom Brown
06 Jun 2019

Fair Oaks Capital, a CLO issuer among the first to include ESG criteria in its deals, updated the capital structure of its latest deal to create split equity and a split senior triple-A rated tranche at the request of investors.

The split senior triple-A ‘A-1’ and 'A-2' notes were guided at 96bp and 98bp over three month Euribor, respectively.

The updated structure also includes split equity tranches with a class ‘Z’ above the class ‘M’. The deal announcement said that class ‘Z’ will be entitled to receive ...

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