By Cristal Cody
Tupelo, Miss., June 14 – Anchorage Capital Group, LLC closed on a new $362 million CDO offering of notes due July 27, 2037, according to a market source.
Anchorage Credit Funding 8, Ltd./Anchorage Credit Funding 8, LLC priced $167 million of 4.43% class A senior secured fixed-rate notes; $52 million of 5.08% class B senior secured fixed-rate notes; $18 million of 6.08% class C mezzanine secured deferrable fixed-rate notes; $14.4 million of 6.76% class D mezzanine secured deferrable fixed-rate notes and $110.6 million of subordinated notes.
GreensLedge Capital Markets LLC arranged the offering.
Anchorage Capital Group will manage the CDO.
The CDO is collateralized primarily by corporate bonds and loans.
Anchorage Capital Group is a New York City-based global asset manager.
Issuer: | Anchorage Credit Funding 8, Ltd./Anchorage Credit Funding 8, LLC
|
Amount: | $362 million
|
Maturity: | July 27, 2037
|
Securities: | Fixed-rate and subordinated notes
|
Structure: | Cash flow CDO
|
Placement agent: | GreensLedge Capital Markets LLC
|
Manager: | Anchorage Capital Group, LLC
|
Pricing date: | May 3
|
Settlement date: | June 6
|
|
Class A notes
|
Amount: | $167 million
|
Securities: | Senior secured fixed-rate notes
|
Coupon: | 4.43%
|
Rating: | Moody’s: Aaa
|
|
Class B notes
|
Amount: | $52 million
|
Securities: | Senior secured fixed-rate notes
|
Coupon: | 5.08%
|
Rating: | Moody’s: Aa3
|
|
Class C notes
|
Amount: | $18 million
|
Securities: | Mezzanine secured deferrable fixed-rate notes
|
Coupon: | 6.08%
|
Rating: | Moody’s: A3
|
|
Class D notes
|
Amount: | $14.4 million
|
Securities: | Mezzanine secured deferrable fixed-rate notes
|
Coupon: | 6.76%
|
Rating: | Moody’s: Baa3
|
|
Equity
|
Amount: | $110.6 million
|
Securities: | Subordinated notes
|
Ratings: | Non-rated
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.