Trimaran refinances $548.05 million 2013 CLO; Carlyle reprices $514.25 million notes

By Cristal Cody

Tupelo, Miss., Dec. 4 – Two CLO managers refinanced and reset vintage 2013 CLOs.

Trimaran Advisors, LLC priced $548.05 million of notes in a refinancing and reset of the Catamaran CLO 2013-1 Ltd./Catamaran CLO 2013-1 LLC transaction.

Carlyle Investment Management LLC subsidiary Carlyle CLO Management LLC refinanced $514.25 million of notes in a reset of a 2013 CLO.

More than $145 billion of vintage CLOs have been refinanced year to date, market sources report.

Trimaran resets CLO

Trimaran Advisors priced $548.05 million of notes in a refinancing and reset of the Catamaran CLO 2013-1 transaction, according to a market source on Monday.

The CLO sold $341.25 million of class A-R floating-rate notes at Libor plus 85 basis points in the senior tranche.

J.P. Morgan Securities LLC was the refinancing placement agent.

The maturity on the refinanced notes was extended to Jan. 27, 2028 from the original Jan. 27, 2025 maturity.

The original $465 million offering was issued June 27, 2013.

Trimaran Advisors has refinanced two CLOs year to date.

The portfolio company of business development company KCAP Financial, Inc. is based in New York.

Carlyle resets 2013-2 CLO

Carlyle CLO Management refinanced $514.25 million of notes in a reset of the Carlyle Global Market Strategies CLO 2013-2 Ltd./Carlyle Global Market Strategies CLO 2013-2 LLC transaction, according to a market source and a Thursday notice of revised form of proposed supplemental indenture.

The CLO priced the $342.5 million tranche of class A-R senior secured floating-rate notes at Libor plus 89 bps.

Morgan Stanley & Co. LLC was the refinancing placement agent.

The maturity on the refinanced notes was extended to Jan. 18, 2029 from the original April 18, 2025 maturity.

The original $623 million transaction was issued March 28, 2013.

Carlyle has priced two new CLOs and refinanced five vintage CLOs year to date.

The asset management firm and affiliate of Washington, D.C.-based Carlyle Group priced four new U.S. CLOs and refinanced five vintage CLOs in 2016.

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