Bloomberg News

Bank of America Corp. Said to Sell $413 Million CLO for CSAM

March 09, 2012

Bank of America Corp. (BAC) raised a $413 million collateralized loan obligation for Credit Suisse Asset Management, according to three people with knowledge of the deal.

The CLO includes a $252.5 million slice rated AAA by Standard & Poor’s that has a coupon of 142 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.

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


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