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The largest collateralised loan obligation since the financial crisis was priced on Thursday.

Antares Capital Advisers raised $2.1bn in its debut collateralised loan obligation, a securitised product backed by bundles of riskier corporate loans, according to a person with knowledge of the deal.

It is the third-largest CLO issued on record, behind deals from Fortress Investment Group and KKR completed before the financial crisis. The CLO will be backed primarily by senior secured loans from mid-sized companies.

Analysts with rating agency S&P Global said that Antares planned to use the funds to diversify its funding sources and expand its loan business.

Deutsche Bank led the transaction. Antares declined to comment on the deal.

Copyright The Financial Times Limited 2017. All rights reserved.
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