Babson Capital Management has closed the Connecticut Valley Structured Credit CDO III, a $400 million collateralized debt obligation (CDO) that will consist primarily of BBB rated CDO debt securities with a focus on the collateralized loan obligation sector. Citigroup Global Markets arranged the transaction.

The new CDO will be managed by Babson's 17-person structured credit team based in Springfield, Mass., and headed by Matthew Natcharian.

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