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Anchorage Capital closes on €318.5 million CDO, first euro CDO post-financial crisis
By Cristal Cody
Tupelo, Miss., Sept. 12 – Details emerged on Anchorage Capital Group, LLC’s €318.5 million new collateralized debt obligation transaction that closed on Wednesday.
The deal was reported as the first European CDO to price since the financial crisis.
The CDO manager priced all fixed-rate tranches in the offering.
CDO sells fixed-rate tranches
Anchorage Capital Group sold €318.5 million of notes due Oct. 27, 2036 in the Anchorage Europe Credit Funding 1 DAC deal, according to a market source.
The CDO priced €180 million of 2.7% class A senior secured fixed-rate notes in the senior tranche.
GreensLedge Capital Markets LLC was the placement agent.
The issue is backed primarily by corporate bonds and senior secured loans.
Anchorage Capital Group has priced two euro-denominated CLOs and one euro CDO year to date.
The asset manager is based in New York City.
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