Intermediate Capital Group preps second European CLO offering

By Cristal Cody

Tupelo, Miss., Sept. 13 - London-based investment firm Intermediate Capital Group plc is expected to price its second European collateralized loan obligation of the year, according to informed market sources.

The St. Paul's CLO III Ltd. deal is in the pipeline for later in the year, one source said.

J.P. Morgan Securities LLC is the placement agent.

Intermediate Capital Managers Ltd., a subsidiary of Intermediate Capital Group, will manage the CLO.

Intermediate Capital Group priced the €400 million St. Paul's CLO II Ltd. transaction in July.

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