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Carlyle Snaps Up Cheap Loans to Create Rare "Print and Sprint" CLO

  • European leveraged loan prices have tumbled in recent weeks
  • CLO managers are crafting quick deals via the secondary market

Carlyle Group Inc. has successfully priced an unusual type of collateralized loan obligation in Europe. 

The 337.7 million euro ($360.7 million) deal is crafted as a so-called “print and sprint,” according to people familiar with the matter, who aren’t authorized to speak publicly. It’s a kind of transaction that involves CLO managers purchasing leveraged loans in the secondary market, rather than taking the normal route of opening a credit facility and slowly building up a portfolio.