3i Debt Management has closed its latest CLO on $516 million.
Jamestown CLO III is a US-focused CLO, investing in corporate debt and senior secured loans backing private equity-led buyouts in the country.
The CLO has a four year investment period and a non-call period of two years, the firm said in a statement.
The CLO comprises: four types of Class A notes totalling $361.6 million (rated AAA to AA, with coupons of LIBOR + 145bps, 3.378 percent fixed, L + 195bps, and 4.206 percent fixed, in descending order of seniority); $45.1 million of Class B notes (rated A and paying L+ 275bps); $33 million of Class C notes (BBB at L+330bps); $21.4 million of Class D notes (BB at L+460bps) and $54.8 million of subordinated notes.
Jeremy Ghose, chief executive of 3iDM, said his firm had closed four CLOs in the last 14 months, totaling $1.9 billion.
It is the firm's second US-focused CLO this year, bringing its total to $1 billion.