Churchill Asset Administration has accomplished a $750m (£592m) center market collateralised mortgage obligation (CLO) providing.
The Churchill Center Market CLO V was oversubscribed and has a four-year reinvestment interval. It’s the first CLO that Churchill has priced in 2025, and the fifteenth CLO issued by the agency.
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It has a collateral pool comprised of a diversified portfolio of senior secured loans, over 85 per cent of which have been recognized. The capital construction consists of six lessons of notes rated AAA by way of BB- by Commonplace & Poor’s, with class A-1 rated by Fitch Rankings.
“We’re happy with the excellent assist from new and current traders for CLO V,” stated Kelli Marti, Churchill’s head of CLO administration.
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“The transaction was oversubscribed throughout all syndicated lessons, demonstrating continued market confidence in our disciplined funding strategy and CLO administration experience.
“Pricing was additionally extremely aggressive, with CLO V reaching the tightest pricing of any Churchill CLO traditionally. We look ahead to constructing on this momentum with a strong 2025 pipeline throughout our CLO platform and broader personal capital enterprise.”
Churchill is the US personal capital funding specialist of Nuveen. It specialises in offering customised financing options to US center market personal fairness companies and their portfolio corporations throughout the capital construction.
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