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Saturday, November 19, 2011

Babson Capital Closes On $500 Million CLO, First Since Crisis

By Prabha Natarajan

Babson Capital Management LLC on Wednesday closed on its first collateralized loan obligation since 2008.
Babson CLO Ltd. 2011-1 consists mainly of corporate senior secured loans, some second-lien loans and high yield bonds, the company said.


CLOs, which are debt instruments that pool together loans and bonds with different tranches of risk, saw a comeback this year. Since June, however, broader economic concerns have slowed the pace of issuance.


The transaction was arranged by Citigroup Inc. (C).


With this, Babson will have 53 collateralized debt obligations, which includes CLOs, under management.


Read more: http://www.foxbusiness.com/industries/2011/09/28/babson-capital-closes-on-500-million-clo-first-since-crisis/#ixzz1eAOb6lf8
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