Ares Management has announced the pricing of Ares XLIV CLO Ltd, a USD1.1 billion Collateralised Loan Obligation (CLO), and the second largest in the firm’s history.
Ares XLIV was sponsored by Ares’ Credit Group and is the second largest broadly syndicated CLO in 2017. It is primarily comprised of broadly syndicated First Lien Senior Secured US Bank Loans. The closing of Ares XLIV is expected by the end of the third quarter and is subject to customary closing conditions.
Ares Management had more than USD13 billion in CLOs managed in the US and Europe as of 31 March, 2017. Ares XLIV represents Ares Management’s third CLO in 2017 with an aggregate amount priced or closed year to date of more than USD2.3 billion. Ares sponsors and manages both corporate and real estate CLOs.