Citi today priced a $452.8 million CLO for Ellington CLO Management, according to market sources. This is the second CLO to be issued from the manager, which debuted in April.
The manager is retaining a horizontal slice to comply with risk retention in the U.S.
Pricing details are as follows:
The transaction will close on Jan. 30, with the non-call period running until Feb. 15, 2020, and the reinvestment period ending on Feb. 15, 2021. The legal final maturity is on Feb. 15, 2029.
Year-to-date new issuance is now $116.35 billion from 208 CLOs, according to LCD data. New issuance in December is now $8.14 billion from 16 transactions. — Andrew Park
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