Chicago, Feb. 28 – Anchorage Capital Group, LLC sold $405.9 million in a collateralized loan obligation being issued by Anchorage Capital CLO 25, Ltd., according to a pre-sale report.
The notes will mature on April 20, 2035.
The CLO consists of $240 million of class A-1 senior secured floating-rate notes at SOFR plus 139 basis points, $12.4 million of class A-2 senior secured floating-rate notes at SOFR plus 160 bps, $44.6 million of class B senior secured floating-rate notes at SOFR plus 195 bps, $27 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 235 bps, $22.6 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 350 bps, $16.9 million of class E mezzanine secured deferrable floating-rate notes at SOFR plus 717 bps and $42.4 million of subordinated notes.
Anchorage Capital Group, LLC will manage the collateral through the end of the 5.2-year reinvestment period.
The CLO is backed by first-lien senior secured leveraged loans.
J.P. Morgan Securities LLC was the placement agent.
Anchorage Capital is a global asset manager based in New York.
| Issuer: | Anchorage Capital CLO 25, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $405.9 million
|
| Maturity: | April 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | Anchorage Capital Group, LLC
|
| Settlement date: | Feb. 24
|
|
|
| Class A-1 notes
|
| Amount: | $240 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 139 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $12.4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 160 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $44.6 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 195 bps
|
| Rating: | Fitch: AA+
|
|
|
| Class C notes
|
| Amount: | $27 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 235 bps
|
| Rating: | Fitch: A+
|
|
|
| Class D notes
|
| Amount: | $22.6 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 350 bps
|
| Rating: | Fitch: BBB+
|
|
|
| Class E notes
|
| Amount: | $16.9 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 717 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $42.4 million
|
| Securities: | Subordinated notes
|
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