Chicago, Oct. 30 – Anchorage Capital Group, LLC refinanced four series of notes from its collateralized debt obligation transaction originally issued on June 7, 2018.
Anchorage Credit Funding 6, Ltd./Anchorage Credit Funding 6, LLC refinanced the following four series:
• $69.5 million of class B-R 3.68% senior secured fixed-rate notes due 2036;
• $37.5 million of class C-R 3.98% mezzanine secured deferrable fixed-rate notes due 2036;
• $25 million of class D-R 6.08% mezzanine secured deferrable fixed-rate notes due 2036; and
• $30 million class E 6.85% junior secured deferrable fixed-rate notes due 2036.
The original transaction originally included two additional classes of notes which remain outstanding.
The notes are collateralized by a portfolio of corporate bonds and loans.
Proceeds from the refinancing were used to redeem in full the original notes.
Changes in the refinancing include “a revised collateral quality matrix and overcollateralization test levels, change in the note payment frequency to quarterly from semiannually and extension of the non-call period among other changes,” according to Moody’s Investors Service.
Anchorage Capital Group is a New York City-based global asset manager.
| Issuer: | Anchorage Credit Funding 6, Ltd./Anchorage Credit Funding 6, LLC
|
| Amount: | $162 million refinancing
|
| Maturity: | July 25, 2036
|
| Securities: | Fixed-rate and subordinated notes
|
| Structure: | Cash flow CDO
|
| Refinancing agent: | GreensLedge Capital Markets LLC
|
| Manager: | Anchorage Capital Group, LLC
|
| Call feature: | Two years
|
| Settlement date: | Feb. 13
|
|
|
| Class B-R notes
|
| Amount: | $69.5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.68%
|
| Rating: | Moody’s: Aa3
|
|
|
| Class C-R notes
|
| Amount: | $37.5 million
|
| Securities: | Mezzanine secured deferrable fixed-rate notes
|
| Coupon: | 3.98%
|
| Rating: | Moody’s: A3
|
|
|
| Class D-R notes
|
| Amount: | $25 million
|
| Securities: | Mezzanine secured deferrable fixed-rate notes
|
| Coupon: | 6.08%
|
| Rating: | Moody’s: Baa3
|
|
|
| Class E notes
|
| Amount: | $30 million
|
| Securities: | Junior secured deferrable fixed-rate notes
|
| Coupon: | 6.85%
|
| Rating: | Moody’s: Ba3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
