Hedge fund Goldentree Asset Management is selling its first European collateralized loan obligation in six years.
The New York firm is seeking about €252.5 million (US$325 million) and has already sold the majority of the issuance. Only €68.5 million in top-rated notes remain, Bloomberg News reports.
The CLO includes about €113 million in triple-A-rated notes, as well as fixed-rate bonds denominated in both euros and pounds sterling. The deal, arranged by Morgan Stanley, has a 12-year final maturity.
Goldentree last sold a European CLO in June 2007, garnering €450 million. Already this year, more than €1.3 billion in European CLOs have been sold.