Bloomberg News

JPMorgan Said to Raise $560.1 Million CLO for Och-Ziff Capital

October 01, 2012

JPMorgan Chase & Co. (JPM:US) raised a $560.1 million collateralized loan obligation for Och-Ziff Capital Management Group, according to two people with knowledge of the deal.

The fund includes a $336.5 million slice rated AAA that pays a rate of 148 basis points more than the London interbank offered rate, said the people, who asked not to be identified because the terms haven’t been announced publicly. Libor is the rate at which banks say they can borrow in dollars from each other.

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.

The bank raised a $510.7 million CLO for the firm in June, according to data compiled by Bloomberg.

Elizabeth Seymour, a JPMorgan spokeswoman, and Jonathan Gasthalter, a spokesman for Och-Ziff, declined to comment.

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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