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.