Oaktree Capital Management prepares $470 million Oaktree EIF I series A CLO

By Cristal Cody

Eureka Springs, Ark., March 3 – Oaktree Capital Management LP plans to price $470 million of notes due Jan. 20, 2027 in the Oaktree EIF I series A Ltd./Oaktree EIF I series A LLC transaction, according to a market source.

The deal includes $289.8 million of class A floating-rate notes (/AAA); $31 million of class B-1 floating-rate notes (/AA); $24.6 million of class B-2 fixed-rate notes (/AA); $26.5 million of class C-1 floating-rate notes (/A); $10 million of class C-2 fixed-rate notes and $88.1 million of income notes.

Wells Fargo Securities LLC is the placement agent.

Oaktree Capital Management will manage the CLO.

The CLO has a non-call period that ends on March 20, 2018 and a reinvestment period that ends on Oct. 20, 2018.

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

Oaktree Capital Management was in the primary market in 2015 with three CLO deals.

The Los Angeles-based asset management firm is a subsidiary of Oaktree Capital Group, LLC.

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