Deutsche Bank Said to Seek to Raise $315 Million Ares Unit CLO

Deutsche Bank AG (DBK) is seeking to raise a $315 million collateralized loan obligation to be managed by a unit of Ares Capital Corp. (ARCC), according to two people with knowledge of the deal.

The CLO for Ivy Hill Asset Management LP may include a $170 million piece rated AAA by Standard & Poor’s, said the people, who declined to be identified because the terms are private.

CLOs are a type of collateralized debt obligation that pool high-yield, high-risk loans and slice them into securities of varying risk and return

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To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net

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