Regatta offers $407.05 million CLO, firm’s second deal of year; secondary market volume rises

By Cristal Cody

Eureka Springs, Ark., Sept. 16 – Regatta Loan Management LLC is in the CLO deal pipeline with a $407.05 million U.S. and European risk retention-compliant transaction, the firm’s first offering since April.

Several new CLO deals are on the calendar, and volume is expected to stay strong for the rest of the month, sources report.

Ares Management LP plans to price the $606 million Ares XL CLO Ltd./Ares XL CLO LLC deal via Goldman, Sachs & Co.

Symphony Asset Management LLC is marketing a $500 million CLO transaction via BofA Merrill Lynch.

Also, Credit Suisse Asset Management, LLC is offering $808,975,000 of notes in the U.S. risk retention-compliant Madison Park Funding XXII Ltd. deal. Wells Fargo Securities, LLC is the placement agent.

Secondary market volume grew over the week.

On Thursday, $400.01 million traded in 56 high-grade CBO/CDO/CLO issues and $182.27 million traded in 28 non-investment-grade CBO/CDO/CLO securities, according to Trace.

During Wednesday’s session, 65 high-grade issues totaling $341.28 million and 42 non-high-grade issues totaling $162.28 million were traded.

On Tuesday, $122.9 million traded in 40 investment-grade securities and $253.64 million traded in 49 non-investment-grade securities, according to Trace.

In secondary trading on Monday, volume included 21 high-grade CBO/CDO/CLO issues totaling $58.01 million and 16 non-investment-grade CBO/CDO/CLO securities totaling $41.02 million.

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