Oaktree Capital Management has priced its second collateralized loan obligation of the year.

The $470 million Oaktree EIF 1 Series A will issue five tranches of floating-rate and fixed-rate notes with preliminary ratings from Moody’s Investors Service and Standard & Poor’s:  $298.8 million of class A notes have preliminary triple-ratings from both rating agencies and will pay three-month Libor plus 155 bps – slightly tighter than the 162 bps on Oaktree’s previous, $262 million deal, completed in January. The notes benefit from effective subordination of 38%. 

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