The CLO is Wellfleet’s third vehicle this year and sixth CLO issuance overall. The firm, the performing credit business of special situations investor Littlejohn & Company, closed its first CLO in 2015 and priced two more in 2016.
The latest CLO vehicle will have a two-year non-call and a five-year reinvestment period with a final maturity of 13 years. As with the firm’s previous issuances, the CLO is backed by syndicated senior secured loans, including Fitch-rated and Moody-rated AAA senior notes, totaling $368 million.
According to the press release, the Greenwich, Connecticut-based firm now has $2.5 billion in assets under management across its six vehicles.