Oak Hill Advisors prices $502 million CLO; Anchorage Capital brings $408.4 million deal

By Cristal Cody

Tupelo, Miss., Aug. 29 – In new CLO issuance, Oak Hill Advisors LP priced $502 million of notes in the firm’s first new reported CLO offering of the year.

Also in the primary market, Anchorage Capital Group, LLC sold $408.4 million of notes in a new CLO transaction.

CLO deal volume has been steady in August in both the new issue and refinancing markets, sources report.

In its deal, Oak Hill Advisors priced $502 million of notes due Oct. 20, 2030 in the OHA Credit Funding 1, Ltd./OHA Credit Funding 1, LLC transaction on Friday, according to a market source.

Wells Fargo Securities LLC was the placement agent.

The CLO is collateralized primarily by broadly syndicated senior secured corporate loans.

Separately, Anchorage Capital Group priced $408.4 million of notes due Oct. 15, 2031 in the new Anchorage Capital CLO 2018-10 Ltd./Anchorage Capital CLO 2018-10 LLC transaction, according to market sources.

The CLO sold $187.9 million of class A-1A floating-rate notes at Libor plus 120 bps in the senior tranche.

GreensLedge Capital Markets LLC arranged the offering.

The CLO is backed primarily by broadly syndicated first-lien senior secured loans.

Anchorage Capital Group has priced three reported dollar-denominated CLOs in 2018.

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