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Telos Asset Management LLC Announces Telos CLO 2014-5's Receipt Of Effective Date Ratings Confirmations

July 26, 2014



By a News Reporter-Staff News Editor at Investment Weekly News -- Telos Asset Management LLC ("Telos"), a subsidiary of Tiptree Financial Inc. ("Tiptree"; NASDAQ: "TIPT"), announced that Telos CLO 2014-5, Ltd. ("Telos 5"), a collateralized loan obligation vehicle ("CLO") for which it acts as collateral servicer, has satisfied its Effective Date requirements for Moody's Investors Service and received ratings confirmation from Standard & Poor's Rating Services. Telos 5 closed the issuance of $412.4 million of notes on May 1, 2014. The notes are secured primarily by broadly syndicated senior-secured loans. BNP Paribas Securities Corp. acted as the initial purchaser for the transaction.

John McCormick, President and Chief Investment Officer of Telos, stated, "Our partnership with and commitment to our investors and the dealer community are key factors to our continued growth."

Keywords for this news article include: Banking and Finance, Tiptree Financial Inc.

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Source: Investment Weekly News


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