The return of CLO single-B tranches with Anchorage

By Paola Aurisicchio
24 Feb 2021

Investors in search of extra yield are pushing CLO managers to once again add single-B tranches to deal structures, now that the volatile market conditions of 2020 have subsided.

Anchorage Capital Group on Tuesday priced a regular $378m CLO with six rated tranches, from triple-A to single-B. Other similar deals might follow.

Anchorage Capital CLO 18, arranged by Credit Suisse, has a five year reinvestment period. The senior notes, rated AAA by S&P, were sold at 115bp ...

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