At a glance
- Obra manages $8.6 billion and runs a dedicated CLO strategy alongside its other investment strategies.
- Allocators weighing Obra as a repeat issuer now have five CLOs in under two years to compare; the announcement did not disclose the spread on CLO 5.
- Morgan Stanley was structuring lead and placement agent, and Milbank advised Obra on legal matters.
Obra Capital closed its fifth collateralized loan obligation, Obra CLO 5, at $403.6 million, the alternatives manager said.
The deal takes Obra's total CLO issuance past $2 billion across five transactions in under two years, according to the firm. Obra manages $8.6 billion and runs a dedicated CLO strategy alongside its other investment strategies.
Allocators weighing Obra as a repeat issuer now have five CLOs in under two years to compare; the announcement did not disclose the spread on CLO 5.
Morgan Stanley was structuring lead and placement agent, and Milbank advised Obra on legal matters. The $403.6 million print is close in size to the €403.75 million Victory Street CLO III that CIC Private Debt priced through BNP Paribas on Oct. 19, as this publication reported.
Reported by the Direct Lending desk from Alternative Credit Investor. Published . Corrections