Wells Fargo Said to Be Raising $270 Million CLO for 40/86
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Wells Fargo & Co. is seeking to raise a collateralized loan obligation with a target size of $270 million for 40/86 Advisors Inc., according to two people with knowledge of the terms.
The fund, Mill Creek CLO, may include a $178 million slice rated AAA that has a coupon of 175 basis points more than the London interbank offered rate, said the people, who declined to be identified because terms are private. A basis point is 0.01 percentage point.