Octagon Credit Investors is planning a $376.50 million collateralized loan obligation, according to  presale report by Standard & Poor’s.

Wells Fargo is the arranger.

The deal, Octagon Investment Partners XVII, includes a $141 million tranche with a preliminary ‘AAA’ rating that is being marketed at three-month Libor plus 133 basis points.

Another ‘AAA’-rated class of notes will pay Libor plus  110 basis points through March  2015, then Libor plus 160 basis points through March 106 and Libor plus 190 basis points thereafter.

A third ‘AAA’-rated class is being marketed at a fixed rate of 3.22%.

As of Aug. 22, 2013, the issuer had identified 87.24% of the portfolio's collateral. Up to 10% of assets may fixed-rate.

Octagon Credit Investors currently has 11 CLOs under management.

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