Chicago, Jan. 27 – Anchorage Capital Group, LLC sold $406.9 million in a collateralized loan obligation being issued by Anchorage Capital CLO 20, Ltd., according to multiple notices.
The notes will mature on Jan. 22, 2035.
The CLO consists of $170.8 million of class A loans at Libor plus 120 basis points, $73.2 million of class A-1 senior secured floating-rate notes at Libor plus 120 bps, $10.2 million of class A-2 senior secured floating-rate notes at Libor plus 150 bps, $45.5 million of class B senior secured deferrable floating-rate notes at Libor plus 180 bps, $24 million of class C senior secured deferrable floating-rate notes at Libor plus 240 bps, $23 million of class D senior secured deferrable floating-rate notes at Libor plus 365 bps, $21 million of class E senior secured deferrable floating-rate notes at Libor plus 735 bps and $39.2 million of subordinated notes.
Anchorage Capital Group, LLC will manage the collateral through the end of the five-year reinvestment period.
The CLO is backed by first-lien senior secured loans.
BofA Securities, Inc. was the placement agent.
Anchorage Capital is a global asset manager based in New York.
| Issuer: | Anchorage Capital CLO 20, Ltd.
|
| Issue: | Loans, floating-rate notes and subordinated notes
|
| Amount: | $406.9 million
|
| Maturity: | Jan. 22, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | Anchorage Capital Group, LLC
|
| Settlement date: | Nov. 10
|
|
|
| Class A loans
|
| Amount: | $170.8 million
|
| Securities: | Loans
|
| Coupon: | Libor plus 120 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-1 notes
|
| Amount: | $73.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 120 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $10.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $45.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 240 bps
|
| Rating: | Fitch: A+
|
|
|
| Class D notes
|
| Amount: | $23 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 365 bps
|
| Rating: | Fitch: BBB
|
|
|
| Class E notes
|
| Amount: | $21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 735 bps
|
| Rating: | Moody's: Ba3
|
| Fitch: NR
|
|
|
| Subordinated notes
|
| Amount: | $39.2 million
|
| Securities: | Subordinated notes
|
|
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