Trimaran, Regiment price CLOs; Fair Oaks buys Arrowpoint CLO 2014-3 equity, B notes

By Cristal Cody

Tupelo, Miss., Aug. 21 – Trimaran Advisors, LLC priced $464.75 million of notes in the Catamaran CLO 2014-2 Ltd./Catamaran CLO 2014-2 LLC transaction, according to a market source on Thursday.

The CLO sold $283.5 million of class A-1 floating-rate notes at Libor plus 151 basis points.

Credit Suisse Securities (USA) LLC was the placement agent.

The deal is Trimaran’s second CLO transaction of the year. The New York-based subsidiary of KCAP Financial, Inc. priced the $468 million Catamaran CLO 2014-1 Ltd./Catamaran CLO 2014-1 LLC offering in April.

Also in the primary market, Regiment Capital Management, LLC brought $407 million of notes in the Cavalry CLO IV, Ltd./Cavalry CLO IV, LLC deal, according to a market source.

Wells Fargo Securities LLC was the placement agent. Final pricing details were not available by press time.

In other CLO market activity, Fair Oaks Income Fund Ltd. said in a news release that master fund Fair Oaks Income Fund LP plans to acquire $20.5 million of equity notes and $4.3 million of B-rated notes from the Arrowpoint CLO 2014-3 Ltd./Arrowpoint CLO 2014-3 LLC vehicle.

The equity purchase represents 53% of the total equity in the deal.

Arrowpoint Asset Management LLC sold $415 million of notes in the transaction via Goldman Sachs & Co. on Friday.

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