Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers T > Headlines for Trimaran Advisors LLC > News item |
Regatta prices $513 million CLO; some CLOs trade following end of risk retention rules
By Cristal Cody
Tupelo, Miss., May 21 – New CLO issuance includes a $513 million offering from Regatta Loan Management LLC in the manager’s first deal of the year.
Elsewhere, now that risk retention requirements for U.S. CLOs have been removed, some tranches are appearing in the secondary market, according to a BofA Merrill Lynch report released Monday.
“Following the passing of the deadline for the regulatory agencies to petition the Supreme Court regarding the DC Circuit Court's decision to exempt open-market U.S. CLOs from risk retention, full or partial vertical risk retention strips for three U.S. CLO deals appeared on BWIC lists this week,” the analysts said.
The list consisted of 5% stakes across all tranches of two CLOs from Trimaran Advisors, LLC and a 5% stake in the debt tranches of BlueMountain CLO 2013-1 Ltd./BlueMountain CLO 2013-1 LLC, according to the note.
In its deal, Regatta Loan Management priced $513 million of notes due July 17, 2031 in the new Regatta VIII Funding Ltd./Regatta VIII Funding LLC deal, according to a market source.
Regatta VIII Funding sold $320 million of class A senior secured floating-rate notes at a discount margin of Libor plus 197 basis points in the senior tranche.
Morgan Stanley & Co. LLC arranged the deal.
Regatta Loan Management is a New York-based asset management firm.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.