Carlson Capital sells $363 million of notes in CLO deal

By Rebecca Melvin

New York, Dec. 6 - Carlson Capital LP sold $363 million of notes due Jan. 15, 2026 in a collateralized loan obligation, according to an informed source Friday.

Cathedral Lake CLO 2013 priced $169.8 million of class A-1A senior secured floating-rate notes (/AAA/) at Libor plus 155 basis points; $50 million of class A-1B senior secured fixed-rate notes (/AAA/) at 3.624%; $40.25 million of class A-2 senior secured floating-rate notes (/AA/) at Libor plus 200 bps; $28 million of class B senior secured floating-rate notes (/A/) at Libor plus 285 bps; $20 million of class C notes (/BB/) at Libor plus 365 bps; $16.45 million of class D notes (/BB/) at Libor plus 475 bps; and $38.5 million of subordinated notes that are not rated.

The deal has a 2.25-year non-call period and a four-year reinvestment period.

Goldman Sachs & Co. is the placement agent of the new deal.

Carlson Capital will manage the CLO, which was expected to close Jan. 10.

Carlson Capital is an alternative asset management firm based in Dallas.

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