Citigroup Inc. (C) is raising a collateralized loan obligation with a target size of $400 million to be managed by Doral Leveraged Asset Management, according to two people with knowledge of the deal.
The CLO includes a $269.5 million slice rated AAA by Standard & Poor’s, 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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