Ares Management is readying a $1.26 billion collateralized loan obligation, according to presale reports published by Fitch Ratings and Standard & Poor’s.

Net proceeds from the deal, Ares XXXI CLO, will be used to purchase a portfolio of primarily senior-secured leveraged loans.  At least 96.1% of the portfolio will be made up of first-lien senior-secured loans.  As of July 24, 62.98% of the collateral pool has been identified.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.