Bloomberg News

Citigroup Said to Be Raising $400 Million CLO for Silvermine

March 27, 2012

Citigroup Inc. (C:US) is raising a collateralized loan obligation with a target size of $400 million to be managed by Silvermine Capital Management LLC, according to two people with knowledge of the deal.

The CLO includes a $266.75 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.

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

To contact the editor responsible for this story: Chapin Wright at cwright4@bloomberg.net


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW

Companies Mentioned

  • C
    (Citigroup Inc)
    • $54.54 USD
    • 0.12
    • 0.22%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus