Natixis Securities Americas LLC today announced the closing of a USD$505 million broadly syndicated collateralized loan obligation (“CLO”) for Pacific Asset Management, a wholly-owned subsidiary of Pacific Life Insurance Company. This marks Pacific Asset Management’s first-ever CLO, which was upsized following strong demand from investors.
“We are delighted to have facilitated Pacific Asset Management’s entry into the CLO space and look forward to our continued partnership,” said Kevin Alexander, Head of Global Markets and Investment Banking Americas. “This transaction further illustrates Natixis’ strong track record of servicing the US CLO market.”
The CLO’s collateral obligations consist of primarily senior secured first lien loans. Natixis Securities Americas LLC acted as sole and exclusive lead arranger, bookrunner and placement agent for the CLO.
“We are excited about the launch of our inaugural CLO. It is a natural extension of the team’s strength and expertise in managing bank loans,” said Dominic Nolan, Senior Managing Director, Pacific Asset Management. “We are pleased with the strong reception to our debut transaction and the support of our trusted partner, Natixis.”
Pacific Asset Management, founded in 2007, is a direct subsidiary of Pacific Life Insurance Company. Pacific Asset Management specializes in credit investments and manages approximately $7 billion as of June 30, 2017