Katonah Raises Debt On The Bounce

Credit Suisse First Boston has priced the notes for Katonah CLO V, a $250 million collateralized loan obligation managed by Kohlberg & Co. subsidiary Katonah Capital Management. Katonah was the first shop to issue notes on a CLO this year when it raised the debt for Katonah CLO IV just a few months ago (LMW, 2/9). One analyst said the $265 million of Triple-A notes for Katonah CLO IV were priced at LIBOR plus 55 basis points, but the notes carried a discount, so the true spread was in the realm of LIBOR plus 60-65. Officials at Katonah could not be reached for comment by press time and Jerry deVito, co-head of CSFB's leveraged finance CDO group, did not return calls.