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0 -0.000426894343650089 -0.00426894343649956 -0.00106723585912484 -0.00160085378868736 -0.00480256136606189 -0.00807897545357537 -0.0149413020277482
Stock impact report

PPM America Closes Thirteenth CLO [Yahoo! Finance]

Prudential Public Limited Company (PUK) 
US:NYSE Investor Relations: investor.prudential.com
Company Research Source: Yahoo! Finance
It is PPM's seventh CLO closed since the firm re-entered the CLO market in 2018, and the thirteenth CLO closed in the firm's history. CLO 7 is managed by a PPM subsidiary, PPM Loan Management Company 2, LLC, a registered investment adviser. Recently, PPM's CLO strategy ranked 1st and 3rd respectively out of 127 managers in 12-month default adjusted par build and 12-month highest market value change based on the period ending in March 2024, according to Bank of America CLO Research. "The closing of CLO 7 is the continuation of PPM's recent activity in the marketplace along with the upsize and reset of CLO 6 in December 2023 and the reset of CLO 2 this March," said Chris Kappas, CLO Portfolio Manager. "We believe investors appreciate our credit focused, active management approach and the potential for success that it brings. With three transactions printed in the past seven months, we have also provided the frequency of issuance that investors are seeking." PPM's CLO platform is p Show less Read more
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