Large-scale offering of a 11th Collateralized Loan Obligation (CLO) by RBC BlueBay for a whopping $400 million

Large-scale offering of a 11th Collateralized Loan Obligation (CLO) by RBC BlueBay for a whopping $400 million

In a significant move, RBC BlueBay Asset Management has priced a new collateralized loan obligation (CLO) at $400m (£295m), marking an important milestone for its US and European CLO Management program. This is the firm's 11th CLO deal across the two continents.

The new CLO comprises a diversified pool of loans issued by US corporate borrowers and is a key component of RBC BlueBay's fixed income offering. The deal was placed with a syndicate of large international institutional investors.

Sid Chhabra, head of securitized credit and CLO management at RBC BlueBay, stated that the CLO is a clear reflection of the firm's growth and success in building its securitized credit and CLO presence.

RBC BlueBay's leveraged finance and securitized credit business has seen significant growth over the last five years, expanding from $10bn to over $25bn in assets under management (AUM). The firm's target is to price four to six deals per year on average across its global platform.

The firm aims to double its current global CLO count to over twenty in the next two years. Two to three of these deals are expected to be in Europe and two to three in the US per year.

Apollo Global Management, another leading player in the CLO market, expects to issue four further CLOs over the next year. Apollo has recently been appointed to manage a new S$1bn private credit growth fund in Singapore.

While detailed growth data and future CLO issuance plans for RBC BlueBay Asset Management may not be readily available, the firm's commitment to expanding its alternative credit capabilities, including leveraged finance and securitized credit, is evident. For precise figures or plans, it is recommended to consult RBC BlueBay's latest investor reports, press releases, or regulatory filings directly.

The new CLO by RBC BlueBay Asset Management is a significant component of its fixed income offerings within the finance industry. With its target of doubling the global CLO count to over twenty in the next two years, RBC BlueBay's growth in the industry includes expansion of its leveraged finance and securitized credit business within the industry.

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