Silvermine Capital Management is back on the market with a $400 million collateralized loan obligation, according to a presale report published by Fitch Ratings.

Net proceeds from the deal, Silver Spring CLO, will be used to repay parties that provided interim financing, allowing the issuer to purchase collateral prior to the closing date.  The remainder of the net proceeds will be used to purchase assets to reach a portfolio of leveraged loans, which consists of 93.5% of senior-secured loans.

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