Octagon Credit Investors is seeking a buyer for a $406 million collateralized loan obligation (CLO) portfolio, Octagon XII CLO, Reuters reports. The CLO, which has a legal final maturity of 11 years, is being marketed by Deutsche Bank.
The CLO will be 90% senior secured loans, 8.75% second-lien loans and 1.25% senior unsecured bonds. The non-call period of the portfolio will be two years, while the reinvestment period will be four years.
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