Pramerica management plans its second European CLO offering this year

By Cristal Cody

Prospect News, June 28 - Pramerica Investment Management Ltd. is expected to price its second European CLO offering of the year in July or early August, according to an informed source.

Investec Securities Ltd. is the placement agent.

Pramerica is the London-based leveraged finance arm of Newark, N.J.-based Prudential Financial, Inc.

Prudential closed the €300 million Dryden XXVII Euro CLO 2013 BV offering of seven tranches of notes due June 25, 2025, its first European CLO deal since the financial crisis, in May.

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