JMP Group LLC announced the close of a reset transaction of a $370.5 million collateralized loan obligation.

The CLO consists of six secured note classes that will all mature on Jan. 17, 2028. The secured notes are supported mainly by a diversified portfolio of broadly syndicated leveraged loans.

The secured notes were issued by JMP Credit Advisors CLO III(R) Ltd., a newly formed special purpose Cayman vehicle, and co-issued by JMP Credit Advisors CLO III(R) LLC, a newly formed special purpose Delaware vehicle.