CLO refinancings continue; CSAM, BlueMountain, Alcentra, Anchorage Capital refinance notes

By Cristal Cody

Tupelo, Miss., April 19 – In CLO refinancing action on Wednesday, details emerged about new transactions priced from Credit Suisse Asset Management, LLC, BlueMountain Capital Management LLC, Anchorage Capital Group, LLC and Alcentra NY, LLC.

Credit Suisse Asset Management priced $875,929,600 of notes in a refinancing and reset of a vintage 2014 CLO.

BlueMountain Capital Management refinanced notes from two deals priced in 2013 and 2014.

Alcentra NY placed $414.5 million of notes in its second refinancing transaction of the year.

Anchorage Capital Group sold $392 million of notes in a refinancing of 2014 CLO notes.

CSAM refinances CLO

Credit Suisse Asset Management priced $875,929,600 of notes in a refinancing and reset of the vintage 2014 Atrium IX/Atrium IX LLC deal, according to a market source and a notice of revised proposed amended and restated indenture dated Tuesday.

The CLO priced $549,561,600 of class A-R floating-rate notes at Libor plus 124 basis points in the senior tranche.

Credit Suisse Securities (USA) LLC was the refinancing agent.

The maturity on the floaters was extended to May 28, 2030 from the original Feb. 29. 2024 maturity. The new subordinated notes have a February 2047 distribution date.

Credit Suisse Asset Management, a unit of Credit Suisse Group AG, priced three U.S. CLOs and refinanced one vintage CLO in 2016.

BlueMountain refinances

BlueMountain Capital Management refinanced $521.45 million of notes due Oct. 15, 2026 in the BlueMountain CLO 2014-3 Ltd./BlueMountain CLO 2014-3 LLC transaction, according to a market source and a notice of executed supplemental indenture dated on Monday.

The CLO priced $372 million of class A-1-R senior secured floating-rate notes at Libor plus 114 bps at the top of the capital stack.

Citigroup Global Markets Inc. was the refinancing agent.

BlueMountain Capital Management priced three new CLOs and refinanced two CLOs in 2016.

The management firm is based in New York City.

In a separate transaction, BlueMountain Capital Management refinanced $349.2 million of notes due April 15, 2025 in the BlueMountain CLO 2013-4 Ltd./BlueMountain CLO 2013-4 LLC transaction, according to a market source.

The CLO priced $250.3 million of class A-R senior secured floating-rate notes at Libor plus 101 bps in the AAA-rated tranche.

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

BlueMountain Capital Management priced three new CLOs and refinanced two CLOs in 2016.

The management firm is based in New York City.

Alcentra refinances

Alcentra NY priced $414.5 million of notes due July 17, 2026 in a refinancing of a 2014 broadly syndicated CLO deal, according to a first supplemental indenture notice on Monday.

Shackleton 2014-VI CLO, Ltd./Shackleton 2014-VI CLO LLC sold $159.5 million of floating-rate notes at Libor plus 116 bps in the class A-1-R tranche.

Morgan Stanley & Co. LLC was the refinancing agent.

Alcentra priced one new CLO and refinanced one vintage CLO in 2016.

The New York-based firm is part of BNY Alcentra Group Holdings, Inc.

Anchorage Capital prices

Anchorage Capital Group sold $392 million of notes due Oct. 15, 2026 in a refinancing of the Anchorage Capital CLO 5, Ltd./Anchorage Capital CLO 5, LLC transaction, according to a notice to holders of notes on Tuesday.

Anchorage Capital CLO 5 priced $305 million of class A-R senior secured floating-rate notes at Libor plus 115 bps in the AAA-rated slice.

Anchorage Capital Group priced two CLOs and one CDO and refinanced one vintage CLO in 2016.

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