40|86 SM Advisors, a wholly-owned subsidiary of CNO Financial Group, said today it closed Cedar Creek CLO, a $413.25 million collateralized loan obligation. 

The transaction was placed by Goldman Sachs and closed on March 28, 2013. 

The CLO has a four-year reinvestment period and a two-year non-call period, with a stated maturity of April 2024.  40|86Advisors, a leading fixed-income investment advisor, will serve as collateral manager. 

Moody’s Investors Service assigned an ‘Aaa’ rating to the $264 million Class A senior tranche of the deal.  In addition to the Class A notes, the deal consists of seven other classes of notes, including subordinated notes, that are not rated by Moody’s, according to research published by the ratings agency last month.

This latest transaction follows two other CLOs managed by 40|86 Advisors, Sugar Creek CLO, which closed in in May 2012, and Mill Creek CLO, which closed in December 2011.  Including Cedar Creek, 40|86 manages four CLOs representing $1.27 billion in assets.

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