JPMorgan Said to Raise $617 Million BlueMountain Capital CLO
JPMorgan Chase & Co. (JPM) raised a $617.3 million collateralized loan obligation for BlueMountain Capital Management LLC, according to two people with knowledge of the deal.
The fund includes a $372.2 million slice rated AAA that has a coupon of 142 basis points more than the London interbank offered rate, said the people, who asked not to be identified because the terms are private. The fund also includes a $10 million AAA slice that has a fixed rate, the people said.
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.
JPMorgan raised a $409.8 million fund for BlueMountain in May, according to data compiled by Bloomberg.
To contact the reporter on this story: Kristen Haunss in New York at khaunss@bloomberg.net
To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net
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