Wellfleet prices $406.05 million CLO; Guggenheim sells $449 million; Anchorage preps CLO 9

By Cristal Cody

Eureka Springs, Ark., Nov. 3 – Littlejohn & Co., LLC funding arm Wellfleet Credit Partners, LLC closed Thursday on a new $406.5 million CLO.

Wellfleet said it will retain equity through a majority-owned affiliate in order to comply with U.S. risk retention requirements.

In addition to several non-affiliated investors, Littlejohn funds and its partners invested in the CLO, according to a company news release.

“We are pleased that the transaction received support from our existing investors and also expanded Wellfleet's investor base, in particular the addition of several third-party investors in the subordinated notes,” Brian Ramsay, president of Littlejohn, said in the release.

In other pricing action, Guggenheim Partners Investment Management LLC priced $449 million of notes in the Salem Fields CLO II offering on Friday, according to a market source.

Coming up, Anchorage Capital Group, LLC plans to price a new $512.05 million CLO.

In its deal, Wellfleet Credit Partners closed Thursday on a new $406.5 million collateralized loan obligation offering of 12-year notes, according to a market source and a company news release.

In the Wellfleet CLO 2016-2, Ltd./Wellfleet CLO 2016-2 LLC transaction, the CLO priced $260 million of class A-1 senior secured floating-rate notes at Libor plus 165 basis points and $47 million of class A-2 senior secured floating-rate notes at Libor plus 220 bps at the top of the capital structure.

Citigroup Global Markets Inc. arranged the offering.

© 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.