Bloomberg News

UBS Said to Raise $410 Million American Money Management CLO

March 02, 2012

UBS AG (UBSN) raised a $410 million collateralized loan obligation for American Money Management Corp., according to two people with knowledge of the deal.

The CLO includes a $267.6 million slice rated AAA by Standard & Poor’s that pays a coupon of 149 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.

Torie von Alt, a UBS spokeswoman, didn’t return a telephone call seeking comment.

The sale of the fund was reported earlier by Reuters and S&P Leveraged Commentary & Data.

To contact the reporter on this story: Kristen Haunss in New York at khaunss@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus