Prudential Financial said today it has closed the Dryden XXIV Senior Loan Fund, its most recent CLO, at $522.5 million.

The deal is Prudential’s third under the Dryden brand in the last 10 months. It is collateralized primarily by broadly syndicated first-lien senior secured corporate loans. At least 90% of the portfolio must be invested in senior secured loans, and up to 10% of the portfolio may consist of secured bonds and senior secured floating rate notes and up to 5% of the portfolio may consist of non-senior secured loans and high yield bonds, according to a report issued by Moody’s Investors Service last week.

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