Credit Suisse Said to Sell $362 Million CLO for ING Alternative

Credit Suisse Group AG (CSGN) raised a $361.9 million collateralized loan obligation for ING Alternative Asset Management LLC, according to two people with knowledge of the transaction.

The CLO includes a $227 million slice rated AAA by Standard & Poor’s that has a coupon of 145 basis points more than the London interbank offered rate, 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. A basis point is 0.01 percentage point.

To contact the reporter on this story: Kristen Haunss in New York at khaunss@bloomberg.net

To contact the editor responsible for this story: Chapin Wright at cwright4@bloomberg.net

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