Ares Management Plans €300M CLO

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Ares Management is marketing a €300 million collateralized loan obligation, according to a presale report published by Moody’s Investors Service.

The Ares European CLO VI is a managed cash flow CLO. At least 90% of the portfolio must consist of senior secured loans or senior bonds and up to 10% of the portfolio may consist of senior unsecured loans, second-lien loans, mezzanine obligations, high yield bonds and senior unsecured bonds. The portfolio is expected to be 60% ramped up as of the closing date and is expected to be comprised predominantly of corporate loans to obligors domiciled in Western Europe.

Moody’s has assigned a preliminary ‘Aaa’ rating to the €177,000,000 Class A notes due 2025. It is not rating the remainder of the deal.

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