Barclays is offering to buy pieces of a CLO it arranged, which is managed by Lambda Finance, at a price as low as 20% of face value, according to Bloomberg.

Barclays is offering a minimum of 70% of face value for the top-rated notes and 20% for the junior debt. The Lambda CLO is a $5.7 billion synthetic instrument comprised of loans made to small and medium-sized companies in the U.K.

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