The most recent collateralized debt obligation (CLO) rated by Standard & Poor’s would bring total issuance in the sector to $23.8 billion, according to a research note from the agency.

The entire transaction amounts to $404 million, divvied up among six floating-rate tranches, and one fixed-rate class, with a range of ratings. Perched at the top of the capital structure are triple-A notes in the A-1 class for $255 million. At three-month Libor plus 153 basis points, the pricing benchmark for that tranche contained in the pre-sale is a touch wider than in recent deals, S&P said.

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