Citigroup Arranges $600M Guggenheim CLO

Kellerhals, Richard
September 2010
High Yield Report;9/6/2010, Vol. 21 Issue 36, p9
The article reports on the Collateralized Loan Obligation (CLO) arranged by Citigroup to be managed by Guggenheim Investment Management, consisting of a triple-B-rated tranche, equity tranche, and a triple-A-rated tranche. It notes that the CLO will have a three-year reinvestment period. According to Wells Fargo analysts Dave Preston and Zachary Bolster, the primary loan market for CLO would not return until at least the second quarter of 2011. One investor explains that Guggenheim is investing its own equity.


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