DoubleLine Said to Arrange First Collateralized Loan Obligation

DoubleLine Capital is marketing its first collateralized loan obligation as it expands its reach in fixed-income markets, according to a person with knowledge of the deal.

The transaction, which is being managed by Morgan Stanley, will likely be about $400 million and is expected to sell next week, said the person, who asked not to be identified because it hasn’t been announced.

Jeffrey Gundlach, who runs the Los Angeles-based firm, didn’t immediately return a phone call seeking comment.

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