Regatta Loan Management markets $411 million Regatta VI Funding CLO

By Cristal Cody

Eureka Springs, Ark., April 7 – Regatta Loan Management LLC plans to price $411 million of notes due July 12, 2028 in a U.S. and European risk retention-compliant collateralized loan obligation deal, according to a market source.

The Regatta VI Funding Ltd./Regatta VI Funding LLC offering includes $3 million of class X floating-rate notes (//AAA); $252 million of class A floating-rate notes (//AAA); $33.25 million of class B-1 floating-rate notes; $15 million of class B-2 fixed-rate notes; $23.75 million of class C floating-rate notes; $22 million of class D floating-rate notes; $20 million of class E floating-rate notes and $42 million of subordinated notes.

Morgan Stanley & Co. LLC is the placement agent.

Regatta Loan Management will manage the CLO, which is backed primarily by first lien senior secured loans.

The CLO will have a 2.2-year non-call period and a 4.4-year reinvestment period.

Proceeds will be used to purchase a portfolio of about $400 million of mostly senior secured leveraged loans.

Regatta Loan Management is an investment firm based in New York City.

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