Carlson Capital offers $404.36 million of notes, loans in Cathedral Lake III CLO

By Cristal Cody

Tupelo, Miss., Oct. 23 – Carlson Capital, LP plans to price a $404.36 million collateralized loan obligation transaction, according to a market source.

The Cathedral Lake III Ltd./Cathedral Lake III LLC offering includes $2.5 million of class A-X floating-rate notes (/AAA/); $257 million of class A-1 loans (/AAA/); $46 million of class B floating-rate notes (/BB/); $24 million of class C deferrable floating-rate notes (/A/); $21 million of class D deferrable floating-rate notes (/BBB/); $20 million of class E deferrable floating-rate notes (/BB/) and $33.86 million of subordinated notes.

Jeffries LLC will arrange the transaction.

Carlson Capital is the CLO manager.

The notes are due Jan. 15, 2026.

The deal is backed primarily by broadly syndicated senior secured corporate loans.

Carlson Capital, a Dallas-based alternative asset management firm, has priced one CLO deal year to date.

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