Copying and distributing are prohibited without permission of the publisher.

Watermark

Flagship Increases Latest Loan Fund

19 Aug 2004

Flagship Capital Management upsized its latest collateralized loan obligation to $350 million from $300 million. The vehicle, called Flagship CLO III, is expected to close Aug. 31.

Flagship Capital Management upsized its latest collateralized loan obligation to $350 million from $300 million. The vehicle, called Flagship CLO III, is expected to close Aug. 31. Banc of America Securities priced the triple-A tranche at LIBOR plus 36 basis points, in line with other CLOs, but significantly tighter than on deals priced earlier this year (LMW, 8/16). Flagship is a loan subsidiary of B of A, but was a subsidiary of Fleet Bank. Ty Anderson is the lead portfolio manager. Officials from Flagship declined comment.

19 Aug 2004