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Banc of America Securities has priced the notes for Nomura Corporate Research and Management's $300 million collateralized loan obligation. The deal, called Clydesdale CLO 2003 is composed of leveraged loans and is the second arbitrage CLO managed by Nomura (LMW, 1/22). A source said the deal is approximately three quarters ramped up. Officials at Nomura declined comment. The structure comprises a $234 million triple-A tranche. The notes are said to have priced at LIBOR plus 55 basis points. The $19 million single-A tranche is priced at LIBOR plus 155 basis points and the $13 million triple-B is at LIBOR plus 290. The equity piece is $24 million. The last Nomura CLO to close was in May 2001 and was also called Clydesdale. The firm has approximately $1 billion in leveraged loans under management.