NEW YORK, February 15, 2012 - LCM Asset Management announced that it closed on an upsized $410 million collateralized loan obligation (CLO).  The senior notes are rated AAA/AAA by Standard & Poor's Ratings Services and Fitch Rating Services, respectively, and bear interest at three-month LIBOR plus 1.48%.

The CLO, called LCM X, includes: A $39.5 million equity tranche

• A $259.0 million AAA tranche with a coupon of 148 basis points over Libor;
• A $45.0 million AA tranche with a coupon of 290 basis points over Libor;
• A $29.5 million A tranche with a coupon of 315 basis points over Libor;
• A $20.0 million BBB tranche with a coupon of 460 basis points over Libor;
• A $17.0 million BB tranche upsized with a coupon of 575 basis points over Libor; 
• A $39.5 million equity tranche

Download PDF: LCM X Closes