Bridge Street CLO I $360M+ reset via MUFG

On June 12, 2026, Bridge Street CLO I executed a $360 million debt tranche reset through MUFG, marking a significant development in the collateralized loan obligation (CLO) market. The refinancing process utilized an innovative mechanism known as the applicable margin reset (AMR), which allows for efficient repricing of debt tranches via an auction method rather than traditional syndication processes. This approach was pioneered by Crescent Capital Group, Sancus Capital Management, and MUFG in a prior transaction and has since gained traction among CLO managers and investors.

The AMR mechanism enables equity holders to trigger refinancing at specified dates or by majority vote, streamlining the process and reducing costs associated with traditional refinancing methods. In this instance, MUFG played a central role as the lead underwriter, facilitating the auction process and ensuring broad participation from a range of investor types, including insurance companies, asset managers, and hedge funds. The successful execution of this reset underscores the growing adoption of AMR as a tool to enhance liquidity, transparency, and efficiency in the CLO market.