|[December 17, 2012]
Prudential Fixed Income to manage new $624 million CLO
NEWARK, N.J. --(Business Wire)--
Dryden XXV Senior Loan Fund, a $624 million collateralized loan
obligation, closed on December 11. Prudential Fixed Income was appointed
as the collateral manager for this transaction, the company said today.
Prudential Fixed Income is the principal public fixed income asset
management business of Prudential Financial, Inc. (NYSE: PRU).
"We are pleased to welcome many first-time CLO investors into the latest
Dryden transaction." said Brian Juliano, vice president and portfolio
manager for Prudential Fixed Income's U.S. bank loan team. "We are
committed to continuing a tradition of managing higher quality deals and
being transparent with investors."
Sara Bonesteel, managing director and head of alternative investments at
Prudential Fixed Income, added, "We believe the excellent execution on
Dryden XXV indicates investors' confidence in our credit and CLO
management capabilities, and we aim to serve them well throughout the
life of the transaction."
The Dryden XXV Senior Loan Fun is the fourth new CLO to be issued under
the Dryden brand in the last 12 months and the 42nd cash or synthetic
CLO/CDO structure to be managed or sub-advised by Prudential Fixed
Income from its Newark and London offices. Standard & Poor's ranks
Prudential as one of the largest global CLO managers. The firm manages
over $9.5 billion in CLO capital.
Prudential Fixed Income, with $356 billion in assets under management as
of September 30, 2012, offers institutional investors needs-based
solutions across all fixed income markets, with a focus on credit
strategies and liability-driven investing. Prudential Fixed Income has
portfolio management and research teams in Newark, N.J.; London and
Singapore. For more information, please visit www.prudentialfixedincome.com.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with
$1 trillion of assets under management as of September 30, 2012, has
operations in the United States, Asia, Europe, and Latin America.
Prudential's diverse and talented employees are committed to helping
individual and institutional customers grow and protect their wealth
through a variety of products and services, including life insurance,
annuities, retirement-related services, mutual funds, investment
management. In the U.S., Prudential's iconic Rock symbol has stood for
strength, stability, expertise and innovation for more than a century.
For more information, please visit http://www.news.prudential.com/
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