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.

© 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.