Ellington opts for high-spread strategy as it prices debut US CLO

By Sayed Kadiri

Ellington Management has become the second debut US CLO manager of the year after yesterday pricing a $375 million deal, which has a unique set of parameters

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Comment by: Anonymous. Posted 9 days ago [2017-05-18 19:55:52]

I like this deal. There's a ton of credit enhancement to the Class A where the investor gets a triple-A rating and L+200. Yes, the bond has a story and is not the plain vanilla broadly syndicated CLO, but you get get paid for that.