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.

In its deal, 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.

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