Chicago, Jan. 27 – Anchorage Capital Group LLC refinanced for $418.5 million a collateralized loan obligation issued by Anchorage Capital CLO 8, Ltd./Anchorage Capital CLO 8, LLC, according to multiple notices.
The notes will mature on Oct. 27, 2034.
The refinanced CLO consists of $240 million of class A-R2-A senior secured floating-rate notes at Libor plus 120 basis points, $15 million of class A-R2-B senior secured floating-rate notes at Libor plus 150 bps, $45 million of class B-R2 senior secured floating-rate notes at Libor plus 180 bps, $24 million of class C-R2 mezzanine secured deferrable floating-rate notes at Libor plus 240 bps, $23 million of class D-R2 mezzanine secured deferrable floating-rate notes at Libor plus 360 bps, $21 million of class E-R2 junior secured deferrable floating-rate notes at Libor plus 735 bps and $50.5 million of subordinated notes.
Anchorage Capital Group LLC will manage the collateral through the end of the five-year reinvestment period.
The notes are collateralized by first-lien senior secured leveraged loans.
The original transaction dates back to July 2016 and was previously refinanced in July 2018.
J.P. Morgan Securities LLC was the placement agent.
Anchorage is a New York City-based CLO manager.
Issuer: | Anchorage Capital CLO 8, Ltd./Anchorage Capital CLO 8, LLC
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Issue: | Floating-rate notes and subordinated notes
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Amount: | $418.5 million
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Maturity: | Oct. 27, 2034
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Structure: | Cash flow CLO
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Placement agent: | J.P. Morgan Securities LLC
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Manager: | Anchorage Capital Group LLC
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Settlement date: | Nov. 19
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Class A-R2-A notes
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Amount: | $240 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 120 bps
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Rating: | Moody's: Aaa
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| Fitch: AAA
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Class A-R2-B notes
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Amount: | $15 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 150 bps
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Rating: | Fitch: AAA
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|
Class B-R2 notes
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Amount: | $45 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 180 bps
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Rating: | Fitch: AA
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|
Class C-R2 notes
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Amount: | $24 million
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Securities: | Mezzanine secured deferrable floating-rate notes
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Coupon: | Libor plus 240 bps
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Rating: | Fitch: A
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Class D-R2 notes
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Amount: | $23 million
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Securities: | Mezzanine secured deferrable floating-rate notes
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Coupon: | Libor plus 360 bps
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Rating: | Fitch: BBB
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Class E-R2 notes
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Amount: | $21 million
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Securities: | Junior secured deferrable floating-rate notes
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Coupon: | Libor plus 735 bps
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Rating: | Moody's: Ba3
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Subordinated notes
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Amount: | $50.5 million
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Securities: | Subordinated notes
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