Catamaran CLO 2016-1 seeks to refinance five classes of notes

By Cady Vishniac

Detroit, Dec. 30 –Catamaran CLO 2016-1 Ltd./Catamaran CLO 2016-1 LLC has proposed an amendment to the indenture of its notes that would take effect on Jan. 19, according to a Dec. 21 notice.

The CLO has informed the trustee that it plans to enter into the first supplemental indenture to the notes with the consent of investment manager Trimaran Advisors, LLC, to issue replacement notes in connection with a refinancing.

A first refinancing of the CLO would result in the issuance of class A-1-R notes (Aaa), class A-2-R notes (Aa2), class B-R deferrable notes (A2), class C-R deferrable notes (Baa3) and class D-R deferrable notes (Ba3). All five classes are expected to be floating-rate.

U.S. Bank NA is the trustee.

Trimaran is a credit-based alternative asset manager based in New York.

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