CIFC CLO Management to price $814.34 million notes in CIFC Funding 2017-1 offering

By Cristal Cody

Tupelo, Miss., Feb. 1 – CIFC Asset Management LLC affiliate CIFC CLO Management LLC intends to price $814.34 million of notes in the CIFC Funding 2017-I Ltd./CIFC Funding 2017-I LLC collateralized loan obligation transaction, according to a market source.

The offering includes $503.6 million of class A floating-rate notes (/AAA/); $92 million of class B floating-rate notes; $60.4 million of class C floating-rate notes; $46.4 million of class D floating-rate notes; $33.6 million of class E floating-rate notes and $73.54 million of subordinated notes.

Deutsche Bank Securities Inc. is the placement agent.

CIFC CLO Management is the CLO manager.

The CLO, collateralized mainly by senior secured loans, has a two-year non-call period and a four-year reinvestment period.

The notes are due April 21, 2029.

CIFC Asset Management is a New York-based credit manager.

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