Wells Fargo & Co. is seeking to raise a collateralized loan obligation with a target size of $270 million , a company specializing in fixed-income investment management for individuals, Bloomberg reports. The Mill Creek CLO fund may include a $178 million slice.
It may also include a $15 million piece-rated AA with a coupon of 310 basis points more than the London interbank offered rate (Libor), a $26 million A slice with a coupon of 435 basis points above Libor, a $12.25 million portion rated BBB with a coupon of 500 basis points more than Libor and a $10.5 million. The fund may also include $32.84 million of equity.
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