Chicago, March 8 – Anchorage Capital Group, LLC sold $407.4 million in a collateralized debt obligation issued by Anchorage Credit Funding 14, Ltd., according to press release.
The notes will mature on Jan. 23, 2040.
The CLO consists of $191 million of class A 3% senior secured fixed-rate notes, $57 million of class B 3.25% senior secured fixed-rate notes, $20 million of class C 3.6% mezzanine secured deferrable fixed-rate notes, $18 million of class D 5.41% mezzanine secured deferrable fixed-rate notes, $38 million of class E 7.45% junior secured deferrable fixed-rate notes and $83.4 million of subordinated notes.
Anchorage Capital Group, LLC will manage the collateral through the end of the five-year reinvestment.
Collateral for the notes consists of corporate loans and bonds.
GreensLedge Capital Markets LLC was the placement agent.
Anchorage Group is a New York City-based asset manager.
| Issuer: | Anchorage Credit Funding 14, Ltd.
|
| Issue: | Fixed-rate notes and subordinated notes
|
| Amount: | $407.4 million
|
| Maturity: | Jan. 23, 2040
|
| Structure: | CDO
|
| Placement agent: | GreensLedge Capital Markets LLC
|
| Manager: | Anchorage Capital Group, LLC
|
| Settlement date: | Dec. 22, 2021
|
|
|
|
|
| Class A notes
|
| Amount: | $191 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3%
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $57 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.25%
|
| Rating: | Moody's: Aa3
|
|
|
| Class C notes
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| Amount: | $20 million
|
| Securities: | Mezzanine secured deferrable fixed-rate notes
|
| Coupon: | 3.6%
|
| Rating: | Moody's: A3
|
|
|
| Class D notes
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| Amount: | $18 million
|
| Securities: | Mezzanine secured deferrable fixed-rate notes
|
| Coupon: | 5.41%
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
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| Amount: | $38 million
|
| Securities: | Junior secured deferrable fixed-rate notes
|
| Coupon: | 7.45%
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
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| Amount: | $83.4 million
|
| Securities: | Subordinated notes
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