Chicago, Jan. 12 – Apollo Capital Management LLC sold $1 billion in a collateralized loan obligation issued by AA MMF 1 Ltd., according to a pre-sale report.
The notes will mature on Dec. 7, 2036.
The CLO consists of $767.5 million of class A senior secured floating-rate notes at Libor plus 170 basis points, $50.75 million of class B senior secured deferrable floating-rate notes at Libor plus 400 bps, $78.5 million of class C senior secured deferrable floating-rate notes at Libor plus 775 bps, $25 million of class D senior secured deferrable floating-rate notes at Libor plus 900 bps and $78.25 million of subordinated notes.
Apollo Capital Management LLC will manage the collateral through the end of the reinvestment period on Dec. 7, 2025.
Collateral will be middle-market loans. However, at closing there were no assets in the portfolio and the notes were not yet funded.
Apollo Capital is a subsidiary of Apollo Global Management LLC.
Issuer: | AA MMF 1 Ltd.
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Issue: | Floating-rate notes and subordinated notes
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Amount: | $1 billion
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Maturity: | Dec. 7, 2036
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Structure: | Cash flow CLO
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Manager: | Apollo Capital Management LLC
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Settlement date: | Dec. 7
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Class A notes
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Amount: | $767.5 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 170 bps
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Rating: | S&P: A-
|
|
Class B notes
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Amount: | $50.75 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 400 bps
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Rating: | S&P: BBB-
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Class C notes
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Amount: | $78.5 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 775 bps
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Rating: | S&P: BB-
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Class D notes
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Amount: | $25 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 900 bps
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Rating: | S&P: B-
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Subordinated notes
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Amount: | $78.25 million
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Securities: | Subordinated notes
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