Anchorage Capital, Greywolf, Shenkman refinance CLOs; Apollo reprices $460.5 million

By Cristal Cody

Tupelo, Miss., July 18 – Details emerged on more than $2 billion of CLO refinancing transactions, including a repricing of a CLO previously refinanced in 2015.

Anchorage Capital Group, LLC priced $577.45 million of notes in eight tranches in a refinancing and reset of 2015 CLO.

Greywolf Capital Management LP refinanced four tranches totaling $538.75 million from a CLO originally priced in 2014.

Apollo Credit Management (CLO) LLC refinanced $460.5 million of notes in six tranches in a refinancing of a vintage 2012 CLO that was first refinanced in 2015.

Also, Shenkman Capital Management, Inc. refinanced $431,375,000 of notes in six tranches from a vintage 2014 deal.

Nearly $100 billion of vintage CLOs have been refinanced year to date, market sources report.

In its deal, Anchorage Capital Group priced $577.45 million of notes in a refinancing and reset of the Anchorage Capital CLO 6, Ltd./Anchorage Capital CLO 6, LLC transaction, according to a market source and a notice to holders of notes.

Anchorage Capital CLO 6 sold $343.75 million of class A-R senior secured floating-rate notes at Libor plus 127 basis points at the top of the capital structure.

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

The maturity on the notes was extended to July 15, 2030 from the original April 15, 2027 maturity.

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