Chicago, Sept. 8 – Anchorage Collateral Management, LLC sold $274.9 million in a collateralized loan obligation issued by Anchorage Credit Funding 16, Ltd., according to a press release.
The notes will mature on July 23, 2040.
The CLO consists of $135.4 million of class A 5.4% senior secured fixed-rate notes, $35.1 million of class B 6.21% senior secured fixed-rate notes, $12 million of class C 6.97% mezzanine secured deferrable fixed-rate notes, $13.2 million of class D 7.39% mezzanine secured deferrable fixed-rate notes, $22.5 million of class E 8.4% junior secured deferrable fixed-rate notes and $56.7 million of subordinated notes.
Anchorage Collateral Management, LLC will manage the collateral through the end of the five-year reinvestment period.
Collateral for the notes consists of corporate bonds and loans.
Anchorage Group is a New York City-based asset manager.
| Issuer: | Anchorage Credit Funding 16, Ltd.
|
| Issue: | Fixed-rate notes and subordinated notes
|
| Amount: | $274.9 million
|
| Maturity: | July 23, 2040
|
| Structure: | Cash flow CBO
|
| Manager: | Anchorage Collateral Management, LLC
|
| Settlement date: | Aug. 24
|
|
|
| Class A notes
|
| Amount: | $135.4 million
|
| Securities: | Senior Secured fixed-rate notes
|
| Coupon: | 5.4%
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $35.1 million
|
| Securities: | Senior Secured fixed-rate notes
|
| Coupon: | 6.21%
|
| Rating: | Moody's: Aa3
|
|
|
| Class C notes
|
| Amount: | $12 million
|
| Securities: | Mezzanine secured deferrable fixed-rate notes
|
| Coupon: | 6.97%
|
| Rating: | Moody's: A3
|
|
|
| Class D notes
|
| Amount: | $13.2 million
|
| Securities: | Mezzanine secured deferrable fixed-rate notes
|
| Coupon: | 7.39%
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | $22.5 million
|
| Securities: | Junior secured deferrable fixed-rate notes
|
| Coupon: | 8.4%
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $56.7 million
|
| Securities: | Subordinated notes
|
|
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