Pricing on a CLO managed by Symphony Asset Management has been set by Morgan Stanley, according to sources.
Symphony CLO VII will have a yield of Libor plus 125 basis points, on a $334 million slice rated AAA by Standard & Poor’s.
The portfolio also includes a $56.5 million rated AA, a $41.5 million rated A, a BBB rated $27.5 million, and a BB rated 27.5 million.
An additional unrated $22 million is priced at Libor plus 825 basis points. The portfolio also contains $44 million in subordinated notes.
San Francisco-based Symphony is a wholly-owned subsidiary of Nuveen Investments, an asset manager owned by Madison Dearborn Partners. Symphony has a $7 billion portfolio under management.