25th Aug 2015 07:59
LONDON (Alliance News) - Fair Oaks Income Fund Ltd on Tuesday said it has entered into binding contracts to buy two tranches of notes of Shackleton 2015-VII CLO, a new collateralised loan obligation backed by a portfolio of US syndicated, secured loans.
Fair Oaks will buy USD28.0 million in equity notes and USD8.6 million of Class F notes in the vehicle.
The portfolio is managed by Alcentra, the credit investments manager and a subsidiary of Bank of New York Mellon.
Shares in Fair Oaks were untraded Tuesday, having last traded at 0.997 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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