Structured Credit Pioneer Palmer Square Capital Management Closes Its Third Static CLO Transaction in 2016

Palmer Square has now closed eight CLO transactions.

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Dec 20, 2016, 10:00 ET

MISSION WOODS, Kan., Dec. 20, 2016 /PRNewswire/ -- Palmer Square Capital Management, an investment management firm that provides structured credit, corporate credit and hedge fund strategies such as long/short credit to a wide range of investors, announced that it has closed on its eighth Collateralized Loan Obligation ("CLO").

Palmer Square has been a pioneer in structuring and executing on static pool CLO transactions. The firm closed its third static CLO transaction of 2016 on December 15th, 2016. In total, the static CLO transactions brought by Palmer Square this year amount to $650 million in issuance. JPMorgan Securities acted as lead arranger on the three transactions. Similar to Palmer Square's seven recent transactions, this CLO is designed to invest primarily in institutional senior secured bank loans. The most significant difference, though, is that the static deals do not have a reinvestment period, are fully identified portfolios at closing, and are immediately amortizing or short duration.

"We are pleased with the success of our static CLO platform. In this interest rate environment, investors have appreciated the opportunity to invest in short duration, floating rate debt in an area which has historically suffered very few defaults," said Christopher D. Long, President of Palmer Square Capital Management. "Our experienced structured credit team continues to be a pioneer in the CLO market on many fronts including issuing static CLOs, rolling out the Palmer Square CLO Indices, and finally, offering many investment solutions for investors to access this space."

Added Angie K. Long, CFA, Chief Investment Officer of Palmer Square Capital Management, "Palmer Square's goal is to continue to seek relative value opportunities across both corporate credit and structured credit. We feel investing in and managing CLOs such as our recent static CLO transactions continues to be a strong risk-adjusted opportunity for our clients."

About Palmer Square Capital Management
Palmer Square Capital Management provides investment advisory services and manages portfolios of corporate and structured credit, high yield municipal credit and various hedge fund strategies for a diverse set of clients across institutional investors, registered investment advisory firms, broker-dealers and high net worth individuals. As of November 30, 2016, Palmer Square managed approximately $3.8 billion in assets.

Visit www.palmersquarecap.com.

The securities issued under the CLO transactions have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Media Contact: Paul Merchan, 212-931-6172, [email protected]

SOURCE Palmer Square Capital Management