Fair Oaks introduces delayed draw into euro CLO

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Fair Oaks introduces delayed draw into euro CLO

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The raising of the bridge on the Chicago River and sailboats move from their harbor on Lake Michigan. vintage photo effect. Stockphoto | alekseigl - stock.adobe.com

Fair Oaks Capital is bringing its second euro CLO to market via JP Morgan, only the fifth deal issued since the Covid-19-induced lockdowns, bringing with it a delayed draw double-B tranche — an option to let the equity boost deal leverage once market conditions improve.

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