Chicago, March 4 – Anchorage Capital Group, LLC priced $408.8 million of notes due April 2034 in a new Anchorage Capital CLO 18, Ltd./Anchorage Capital CLO 18, LLC offering, according to a pre-sale report.
In the collateralized loan obligation deal, there are $230 million of class A-1 senior floating-rate notes at Libor plus 115 basis points and $20 million of class A-2 senior floating-rate notes at Libor plus 130 bps.
Additionally, there are $24 million of class B-1 senior floating-rate notes at Libor plus 150 bps, $22 million of class B-2 2.7792% senior fixed-rate notes, $24 million of class C senior floating-rate notes at Libor plus 225 bps, $27 million of class D senior floating-rate notes at Libor plus 345 bps, $15.5 million of class E senior floating-rate notes at Libor plus 646 bps and $9.5 million of class F senior floating-rate notes at Libor plus 704 bps.
And, the CLO has $36.8 million of subordinated notes.
Collateral will be in the form primarily of first-lien senior secured leveraged loans.
Credit Suisse Securities (USA) LLC is the arranger.
The collateral manager is Anchorage Capital Group, LLC during the five-year reinvestment period.
The notes cannot be called for two years.
Anchorage Capital is a global asset manager based in New York.
| Issuers: | Anchorage Capital CLO 18, Ltd./Anchorage Capital CLO 18, LLC
|
| Amount: | $408.8 million
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| Maturity: | April 15, 2034
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| Securities: | Floating-rate, fixed-rate and subordinated notes
|
| Structure: | Cash flow CLO
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| Placement agent: | Credit Suisse Securities (USA) LLC
|
| Manager: | Anchorage Capital Group, LLC
|
| Call: | Two years
|
| Pricing date: | March 3
|
| Settlement date: | March 30
|
|
|
| Class A-1 notes
|
| Amount: | $230 million
|
| Securities: | Senior floating-rate notes
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| Coupon: | Libor plus 115 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-2 notes
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| Amount: | $20 million
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| Securities: | Senior floating-rate notes
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| Coupon: | Libor plus 130 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-1 notes
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| Amount: | $24 million
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| Securities: | Senior floating-rate notes
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| Coupon: | Libor plus 150 bps
|
|
|
| Class B-2 notes
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| Amount: | $22 million
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| Securities: | Senior fixed-rate notes
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| Coupon: | 2.7792%
|
|
|
| Class C notes
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| Amount: | $24 million
|
| Securities: | Senior floating-rate notes
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| Coupon: | Libor plus 225 bps
|
|
|
| Class D notes
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| Amount: | $27 million
|
| Securities: | Senior floating-rate notes
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| Coupon: | Libor plus 345 bps
|
|
|
| Class E notes
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| Amount: | $15.5 million
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| Securities: | Senior floating-rate notes
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| Coupon: | Libor plus 646 bps
|
|
|
| Class F notes
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| Amount: | $9.5 million
|
| Securities: | Senior floating-rate notes
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| Coupon: | Libor plus 704 bps
|
|
|
| Subordinated notes
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| Amount: | $36.8 million
|
| Securities: | Subordinated notes
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