Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Citigroup Said to Raise $355 Million CLO for Aegon USA

Citigroup Inc. raised a $355.4 million collateralized loan obligation for Aegon USA Investment Management LLC, according to two people with knowledge of the deal.

The CLO, Cedar Funding Ltd., includes a $227.5 million slice rated AAA that pays a rate of 135 basis points more than the London interbank offered rate, said the people, who declined to be identified because the terms are private. The fund was increased in size from a target of $300 million, the people said.

There have been $9.9 billion of CLOs backed by widely syndicated loans raised this year, according to data compiled by Bloomberg. For the same time period last year, $1.6 billion of such funds were raised, according to the data.

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.

The Aegon fund is a partial refinancing of a Malibu Funding transaction, a market value CLO issued in 2005, one of the people said. Aegon is the fixed-income management platform for Aegon Asset Management

Scott Helfman, a Citigroup spokesman, declined to comment. John Bailey, director of leveraged loans at Aegon USA Investment Management, didn’t immediately return a telephone call seeking comment.

Details of the financing are as follows:

Class       Amount      S&P Ratings   Coupon   Discount Margin
A-1         $227.5 M    AAA           L+130    L+135
A-2         $39.65 M    AA            L+250    L+260
B           $24.5 M     A             L+300    L+440
C           $15.75 M    BBB           L+400    Retained
D           $13.3 M     BB            L+600    Retained
Sub Notes   $34.7 M     NR                     Retained

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.