Citigroup has arranged a $600 million CLO that will be managed by Guggenheim Investment Management, according to sources.

The CLO consists of a $110 million triple-B-rated tranche, a $180 million equity tranche and a $300 million triple-A-rated tranche. The triple-B and equity tranches are being held by Guggenheim, so only the triple-A tranche will be offered to investors. There hasn't been any word on pricing yet, sources said.

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