Arranger and administrative agent First Union Capital Markets is selling a $200 million credit facility to support a new collaterallized debt obligation established by Tennenbaum & Co., LLC in a New York bank meeting last week.

The 5.5-year secured revolver, subject to a market value borrowing base, is priced at Libor plus 112.5 basis points. Additionally, there will be an unused fee of 25 basis points.

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