Eaton Vance offers $408.23 million of notes in Eaton Vance 2015-1 CLO

By Cristal Cody

Tupelo, Miss., Oct. 1 – Eaton Vance Management plans to price $408.23 million of collateralized loan obligation notes due Oct. 20, 2026 in its first transaction of the year, according to a market source.

The Eaton Vance CLO 2015-1 Ltd./Eaton Vance CLO 2015-1, LLC deal includes $246 million of class A floating-rate notes (/AAA); $46.25 million of class B floating-rate notes; $34.35 million of class C deferrable floating-rate notes; $23.4 million of class D deferrable floating-rate notes; $18 million of class E deferrable floating-rate notes; $8 million of class F deferrable floating-rate notes and $32.23 million of subordinated notes.

Wells Fargo Securities LLC is the placement agent.

Eaton Vance will manage the CLO.

The CLO has a non-call period that ends Oct. 30, 2017. The reinvestment period ends July 20, 2020.

The deal is backed primarily by broadly syndicated senior secured loans.

Boston-based Eaton Vance Management, a subsidiary of Eaton Vance Corp., brought one deal in 2014 and one CLO offering in 2013.

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