Senior spreads grind tighter with latest CLO from CIFC

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By Paola Aurisicchio
10 Sep 2020

Spreads on primary triple-A CLO paper have tightened to a new Covid-era low this week, with CIFC Asset Management pricing via Citigroup a $498.8m CLO at 135bps over Libor.

The CIFC Funding 2020-III includes $300m senior notes, rated triple-A by S$P Global Ratings and Fitch Ratings, and it has three year reinvestment period. The CLO concludes a week with very large deals in the CLO space with Bain Capital Credit and KKR that priced, respectively, a $446m ...

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