Oct. 28 (Bloomberg) -- Citigroup Inc. has raised a $408.7 million collateralized loan obligation for WCAS Fraser Sullivan Investment Management LLC, according to people with knowledge of the deal.
A $265 million portion of the fund rated AAA by Standard & Poor’s pays a coupon of 165 basis points more than the London interbank offered rate, said the people, who declined to be identified because the terms are private.
CLOs are a type of collateralized debt obligation that pool high-yield, high-risk loans and slice them into securities of varying risk and return.
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