Chicago, March 7 – AIG Credit Management, LLC sold $510 million in a collateralized loan obligation being issued by AIG CLO 2021-3, LLC, according to press release.
The notes will mature on Jan. 25, 2035.
The CLO consists of $315 million of class A senior secured floating-rate notes, $65 million of class B senior secured floating-rate notes, $25 million of class C mezzanine secured deferrable floating-rate notes, $32.5 million of class D mezzanine secured deferrable floating-rate notes, $22.5 million of class E junior secured deferrable floating-rate notes and $50 million of subordinated notes.
AIG Credit Management, LLC will manage the collateral through the end of the five-year reinvestment period.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
Barclays was the placement agent.
The finance and insurance company is based New York.
Issuer: | AIG CLO 2021-3, LLC
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Issue: | Floating-rate notes and subordinated notes
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Amount: | $510 million
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Maturity: | Jan. 25, 2035
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Structure: | Cash flow CLO
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Placement agent: | Barclays
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Manager: | AIG Credit Management, LLC
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Settlement date: | Dec. 23, 2021
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Class A notes
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Amount: | $315 million
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Securities: | Senior secured floating-rate notes
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Rating: | Moody's: Aaa
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Class B notes
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Amount: | $65 million
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Securities: | Senior secured floating-rate notes
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Rating: | Moody's: Aa2
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Class C notes
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Amount: | $25 million
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Securities: | Mezzanine secured deferrable floating-rate notes
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Rating: | Moody's: A2
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Class D notes
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Amount: | $32.5 million
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Securities: | Mezzanine secured deferrable floating-rate notes
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Rating: | Moody's: Baa3
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Class E notes
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Amount: | $22.5 million
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Securities: | Junior secured deferrable floating-rate notes
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Rating: | Moody's: Ba3
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Subordinated notes
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Amount: | $50 million
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Securities: | Subordinated notes
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