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PineBridge closes USD412.5m collateralised loan obligation

PineBridge Investments, the global multi-asset class investment manager, has successfully closed its latest collateralised loan obligation (CLO), Galaxy XII CLO, Ltd.

The issuance was comprised of approximately USD412.5 million of notes and closed on 24 April, 2012. The notes are secured by broadly syndicated first-lien senior secured corporate loans and other corporate notes and bonds, and the entire offering was fully or over-subscribed.

This is the fifteenth CLO that PineBridge has brought to market, taking the firm’s total leveraged finance assets under management to USD7.8 billion.

“The closing of Galaxy XII marks another successful investment and asset raise for PineBridge, and we’re very proud of this achievement. The offering attracted great interest with both existing and new investors, and we appreciate the confidence that the market continues to show in PineBridge’s leveraged loan products,” says John Lapham, Managing Director and Co-Head of PineBridge Leveraged Finance.

Morgan Stanley acted as placement agent for the transaction.

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