Citigroup Inc. (C:US) raised a $458.7 million collateralized loan obligation for WCAS Fraser Sullivan Investment Management LLC, according to a person with knowledge of the deal.
The fund includes $273.5 million slice rated AAA by Standard & Poor’s, which pays interest at 1.3 percentage points more than the London interbank offered rate, said the person, 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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