UBS has priced an approximately $1.1 billion collateralized loan obligation for Pacific Investment Management Co. with the underlying collateral European and U.S. leveraged loans. The deal is called Global Enhanced Loan Fund and issued both U.S. and Euro liabilities, providing a natural currency hedge. The $356.2 million Triple-A tranche priced at LIBOR plus 31 basis points. The e411 million triple-A tranche priced at Euribor plus 31 basis points. The structure is also noteworthy in that only 20% of the portfolio will be ramped at closing. A PIMCO spokesman and UBS officials did not return calls.