Chicago, Feb. 2 – Anchorage Capital Group, LLC refinanced for $462.05 million a collateralized loan obligation issued by Anchorage Capital CLO 16, Ltd., according to multiple notices.
The notes will mature on Jan. 19, 2035.
The refinanced CLO consists of $270 million of class A-1-R senior secured floating-rate notes at Libor plus 120 basis points, $15.8 million of class A-2-R senior secured floating-rate notes at Libor plus 155 bps, $51.75 million of class B-R senior secured floating-rate notes at Libor plus 180 bps, $27 million of class C-R mezzanine secured deferrable floating-rate notes at Libor plus 240 bps, $25.875 million of class D-R mezzanine secured deferrable floating-rate notes at Libor plus 372 bps, $21.375 million of class E-R junior secured deferrable floating-rate notes at Libor plus 735 bps and $50.25 million of subordinated notes.
Anchorage Capital Group, LLC will manage the collateral through the end of the 5.1-year reinvestment period.
The CLO portfolio backing the notes will consist primarily of first-lien senior secured leveraged loans.
Morgan Stanley & Co. LLC was the placement agent.
Anchorage is a New York City-based CLO manager.
The CLO originally closed in October 2020.
| Issuer: | Anchorage Capital CLO 16, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $462.05 million
|
| Maturity: | Jan. 19, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | Anchorage Capital Group, LLC
|
| Settlement date: | Nov. 30
|
|
|
| Class A-1-R notes
|
| Amount: | $270 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 120 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2-R notes
|
| Amount: | $15.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 155 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-R notes
|
| Amount: | $51.75 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C-R notes
|
| Amount: | $27 million
|
| Securities: | Mezzanine Secured Deferrable floating-rate notes
|
| Coupon: | Libor plus 240 bps
|
| Rating: | Fitch: A
|
|
|
| Class D-R notes
|
| Amount: | $25.875 million
|
| Securities: | Mezzanine Secured Deferrable floating-rate notes
|
| Coupon: | Libor plus 372 bps
|
| Rating: | Fitch: BBB
|
|
|
| Class E-R notes
|
| Amount: | $21.375 million
|
| Securities: | Junior Secured Deferrable floating-rate notes
|
| Coupon: | Libor plus 735 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $50.25 million
|
| Securities: | Subordinated notes
|
|
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