Redding Ridge, Apex price; Anchorage brings CDO; CELF refinances; loan outflows drop

By Cristal Cody

Tupelo, Miss., June 14 – Redding Ridge Asset Management, LLC priced $597.2 million of notes in the manager’s first dollar-denominated CLO deal of the year. At the top of the capital structure, RR 6 Ltd./RR 6 LLC sold the $384 million of class A-1a floating-rate notes at 99.875 and a coupon of Libor plus 125 bps.

Redding Ridge also priced €402.3 million of notes in the manager’s second euro CLO offering of 2019, a source said. The RRE 2 Loan Management DAC transaction priced via Citigroup Global Markets Ltd. Final pricing details were not immediately available.

In other dollar-denominated supply, Apex Credit Partners LLC priced a $399 million broadly syndicated CLO.

Meanwhile, Anchorage Capital Group, LLC closed on a new $362 million CDO transaction.

In other deal activity, CELF Advisors LLP repriced €300 million of notes from a vintage 2016 euro-denominated CLO offering, shaving off more than 10 basis points in the AAA-rated tranche.

For the week ended Wednesday, “flows improved for riskier fixed asset classes,” Yuri Seliger, a credit strategist with BofA Securities, said in a research note released on Friday.

Outflows from leveraged loans declined to $620 million from $1.24 billion of outflows in the previous week.

© 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.