Life Investment Management's debut cash flow collateralized loan obligation. The approximately $350 million deal, called NYLIM Flatiron CLO 2003-1, is said to be about 80% ramped up, according to a source. Calls to bankers at Goldman and a NYLIM portfolio manager were not returned. NYLIM is a subsidiary of New York Life Insurance Co., which has $160 billion in assets under management. The firm has more than $1.1 billion in loan assets, according to Standard & Poor's. The equity slice of the deal is $36.75 million.
| How It's Priced | ||
| RATING | TRANCHE SIZE | PRICING |
| Aaa/AAA | $228 million | LIB+55 |
| Aaa/AAA | $25 million | 4.2% |
| Aa2/AA | $17.5 million | LIB+90 |
| A2/A | $17.5 million | LIB+165 |
| Baa2/BBB | $12.5 million | LIB+320 |
| Baa2/BBB | $12 million | 7.19% |