Oak Hill refinances $610.85 million; CIFC sells reprint; Anchorage Capital refinances

By Cristal Cody

Tupelo, Miss., Jan. 22 – The securitized refinancing market remains active so far in 2020 with three new reported deals priced.

Oak Hill Advisors LP refinanced $610.85 million of notes from a 2016 vintage CLO.

CIFC Asset Management LLC affiliate CIFC CLO Management LLC refinanced $503.6 million of notes in the AAA-rated tranche from a 2017 CLO deal.

Also, Anchorage Capital Group, LLC sold $494.7 million of notes in a refinancing of a 2016 CDO offering.

Palmer Square Capital Management LLC also plans to price a second refinancing of the Palmer Square CLO 2015-2, Ltd./Palmer Square CLO 2015-2, LLC transaction, as previously reported. Citigroup Global Markets Inc. is the refinancing placement agent.

In its deal, Oak Hill Advisors priced $610.85 million of notes in a refinancing of the manager’s 2016 era CLO, according to a market source.

OHA Loan Funding 2016-1, Ltd. sold $384.6 million of class A-R senior secured floating-rate notes at Libor plus 125 basis points in the AAA-rated tranche.

J.P. Morgan Securities LLC was the refinancing placement agent.

The maturity was extended to Jan. 20, 2033 from Jan. 20, 2028.

In the original $609 million transaction issued Dec. 7, 2016, the CLO priced $370 million of the class A senior secured floating-rate notes at Libor plus 143 bps.

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