Chicago, April 29 – AGL Credit Management LP refinanced its AGL CLO 4 Ltd. transaction, according to a notice.
The maturity date has been extended five years to April 20, 2033.
The $479.1 million refinancing includes the $1 million of class X-R senior secured floating-rate notes at Libor plus 65 basis points, $308.1 million of class A-1-R senior secured floating-rate notes at Libor plus 107 bps, $10 million of class A-2-R 1.88% senior secured fixed-rate notes, $20 million of class B-1-R mezzanine secured deferrable floating-rate notes at Libor plus 120 bps and $9.1 million of class B-2-R 2.37% mezzanine secured deferrable fixed-rate notes.
There are also $130.9 million of subordinated notes that have been extended with the transaction.
The original CLO had $232 million of class A floating-rate notes at Libor plus 221 basis points, $36 million of class B floating-rate notes at Libor plus 297 bps and $130.9 million of subordinated notes.
The class A and class B notes were redeemed.
AGL Core Fund Vintage 2020-1, LP continues to manage the portfolio for the extended three-year reinvestment period.
Collateral comes mostly from senior secured loans, cash and eligible investments.
The non-call period has also been extended with the refinancing.
The New York-based investment firm was founded in 2019 and is a subsidiary of the Abu Dhabi Investment Authority.
| Issuer: | AGL CLO 4 Ltd.
|
| Issue: | Floating-rate and fixed-rate notes
|
| Structure: | Cash flow CLO
|
| Amount: | $479.1 million
|
| Maturity: | April 20, 2033
|
| Manager: | AGL Core Fund Vintage 2020-1, LP
|
| Announcement date: | April 20
|
| Settlement date: | April 20
|
|
|
| Class X-R notes
|
| Amount: | $1 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 65 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1-R notes
|
| Amount: | $308.1 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 107 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2-R notes
|
| Amount: | $10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 1.88%
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1-R notes
|
| Amount: | $20 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 120 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-2-R notes
|
| Amount: | $9.1 million
|
| Securities: | Mezzanine secured deferrable fixed-rate notes
|
| Coupon: | 2.37%
|
| Rating: | Moody's: Aaa
|
|
|
| Subordinated notes
|
| Amount: | $130.9 million
|
| Securities: | Subordinated notes
|
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