Zais Group brings second CLO deal; Babson, Regiment Capital, Monroe Capital tap market

By Cristal Cody

Tupelo, Miss., Sept. 10 – Zais Group, LLC brought its second CLO deal of the year, according to a market source on Wednesday.

The Red Bank, N.J.-based structured credit asset management firm sold $333.75 million of notes due July 27, 2026 in the Zais CLO 2, Ltd./Zais CLO 2, LLC offering.

The CLO placed the $106.4 million tranche of AAA notes at Libor plus 150 basis points.

J.P. Morgan Securities LLC arranged the offering.

Zais Leveraged Loan Manager 2, LLC will manage the CLO.

Zais Group previously brought the $310 million Zais CLO 1, Ltd./Zais CLO 1, LLC deal in March.

In other pricing activity, details emerged on new issuance from Babson Capital Management LLC, Regiment Capital Management, LLC and Monroe Capital Management, LLC.

Babson Capital Management priced $566.25 million of notes, upsized from an initial deal size estimate of $412 million, according to market sources.

Babson CLO 2014-II Ltd. sold $352 million of class A senior secured floating-rate notes (Aaa//AAA) at Libor plus 139 bps.

BofA Merrill Lynch was the placement agent.

The deal is the firm’s second U.S. CLO transaction in 2014. Babson Capital Management previously brought the $514.21 million Babson CLO 2014-I Ltd./Babson CLO 2014-I LLC offering on May 9.

The global asset management firm is based in Boston, Springfield, Mass., and Charlotte, N.C.

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