Chicago, Feb. 5 – Anchorage CLO ECM, LLC priced €463.3 million of notes due 2034 in the new Anchorage Capital Europe CLO 2021-4 DAC transaction, according to market sources.
The CLO sold €265.5 million of class A senior secured floating-rate notes at Euribor plus 95 basis points, €20.2 million of class B-1 senior secured floating-rate notes at Euribor plus 160 bps, €28 million of class B-2 1.9% senior secured fixed-rate notes, €26.6 million of class C senior secured deferrable floating-rate notes at Euribor plus 270 bps, €34.7 million of class D senior secured deferrable floating-rate notes at Euribor plus 375 bps, €28.8 million of class E senior secured deferrable floating-rate notes at Euribor plus 620 bps, €12.6 million of class F senior secured deferrable floating-rate notes at Euribor plus 797 bps and €46.9 million of subordinated notes.
Anchorage CLO ECM, LLC will manage the CLO during the portfolio’s four-year reinvestment period.
Goldman Sachs International is the placement agent.
The issue is backed primarily by broadly syndicated senior secured loans and senior secured bonds.
The asset manager is based in New York City.
| Issuer: | Anchorage Capital Europe CLO 2021-4 DAC
|
| Amount: | €463.3 million
|
| Maturity: | 2034
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
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| Placement agent: | Goldman Sachs international
|
| Manager: | Anchorage CLO ECM, LLC
|
| Pricing date: | Feb. 5
|
| Settlement date: | March 25
|
|
|
| Class A notes
|
| Amount: | €265.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 95 bps
|
| Ratings: | Moody’s: Aaa
|
|
|
| Class B-1 notes
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| Amount: | €20.2 million
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| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 160 bps
|
| Ratings: | Moody’s: Aa2
|
|
|
| Class B-2 notes
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| Amount: | €28 million
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| Securities: | Senior secured fixed-rate notes
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| Coupon: | 1.9%
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| Ratings: | Moody’s: Aa2
|
|
|
| Class C notes
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| Amount: | €26.6 million
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| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | Euribor plus 270 bps
|
| Ratings: | Moody’s: A2
|
|
|
| Class D notes
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| Amount: | €34.7 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 375 bps
|
| Ratings: | Moody’s: Baa3
|
|
|
| Class E notes
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| Amount: | €28.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | Euribor plus 620 bps
|
| Ratings: | Moody’s: Ba3
|
|
|
| Class F notes
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| Amount: | €12.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | Euribor plus 797 bps
|
| Ratings: | Moody’s: B3
|
|
|
| Equity
|
| Amount: | $46.9 million
|
| Securities: | Subordinated notes
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| Ratings: | Non-rated
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