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Batley moved from London to Kidwelly, Carmarthenshire, where the cult operated in a cul-de-sac, Clos yr Onnen.

He had moved from London to the small town of Kidwelly, in Carmarthenshire, where the cult operated in a cul-de-sac, Clos yr Onnen.

At the Clos De Bouard estate near Saint-Emilion, fully a third of sales are now of the chateau's two – soon to be three – non-alcoholic brands.

CLOs are pools of leveraged loans, structured as one actively managed security.

Nevertheless, the mid-market CLOs' own credit profiles "have worsened only slightly."