By Cristal Cody
Tupelo, Miss., June 22 – Two CLO managers repriced vintage CLO deals with the refinancing and new deal pace expected to remain strong, according to market sources on Thursday.
Ares CLO Management LLC refinanced $417 million of notes in a reset of 2013 CLO.
Brigade Capital Management, LLC came to the market to refinance its fifth CLO of the year. The CLO manager reset $458.15 million of notes from a 2015 vintage CLO deal.
Also, the Cavalry CLO III, Ltd./Cavalry CLO III, LLC vehicle plans to refinance its notes and change the collateral manager to Bain Capital Credit, LP from Regiment Capital Management, LLC, according to a trustee notice.
The vehicle would be renamed Bain Capital Credit CLO 2017-2, Ltd./Bain Capital Credit CLO 2017-2, LLC.
Regiment Capital Management issued $411.03 million of notes in the CLO on Dec. 11, 2013.
| Bain Capital is formerly known as Sankaty Advisors LP, which in 2015 acquired the management contracts for four portfolios of CLOs totaling $1.6 billion of assets from | Regiment Capital Advisors. The management contracts that were transferred were for Cavalry CLO II, Ltd., | Cavalry CLO III, | Cavalry CLO IV, Ltd. | and | Cavalry CLO V, Ltd.
|
| Bain Capital has priced one new CLO and refinanced two vintage CLOs year to date. The Boston-based asset management firm is a subsidiary of Bain Capital LP.
|
|
|
© 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.
