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Published on 11/19/2013 in the Prospect News CLO Daily.

Regiment Capital to sell $411.05 million five-part offering of notes in Cavalry CLO III deal

By Cristal Cody

Tupelo, Miss., Nov. 19 - Regiment Capital Management, LLC plans to price $411.05 million of notes due January 2026 in a collateralized loan obligation transaction, according to an informed source.

Cavalry CLO III, Ltd./Cavalry CLO III, LLC intends to offer $245 million of class A senior secured floating-rate notes (Aaa); $40 million of class B senior secured floating-rate notes; $35.5 million of class C secured deferrable floating-rate notes; $30.55 million of class D secured deferrable floating-rate notes and $60 million of subordinated notes.

Wells Fargo Securities, LLC will arrange the offering.

The notes have a non-call period expected to end in January 2016 and a reinvestment period slated to end in January 2018.

The CLO is backed by a broadly syndicated loan portfolio.

The deal is scheduled to close in December.

Regiment Capital Management is a Boston-based asset management firm.


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