Chicago, June 8 – AGL CLO Credit Management LP sold a new collateralized loan obligation for $504.45 million that lists AGL CLO 11 Ltd./AGL CLO 11 LLC as co-issuers, according to a pre-sale report.
The maturity date is April 15, 2034.
The CLO has $307.5 million of class AS senior secured floating-rate notes at Libor plus 119 basis points, $17.5 million of class AJ senior secured floating-rate notes at Libor plus 135 bps, $40 million of class B-1 senior secured floating-rate notes at Libor plus 170 bps, $15 million of class B-2 3% senior secured fixed-rate notes,$30 million of class C senior secured deferrable floating-rate notes at Libor plus 205 bps, $27.5 million of class D senior secured deferrable floating-rate notes at Libor plus 315 bps, $21.25 million of class E senior secured deferrable floating-rate notes at Libor plus 636 bps and $45.7 million of subordinated notes.
AGL CLO Credit Management is managing the collateral through the end of the reinvestment period on April 15, 2026.
The notes can be called after April 20, 2023.
Credit Suisse Securities (USA) LLC is the initial purchaser.
Most of the collateral comes from senior secured loans, cash and eligible investments. A minimum of 15% of the borrowers must be based in the United States or Canada.
The New York-based investment firm was founded in 2019 and is a subsidiary of the Abu Dhabi Investment Authority.
| Issuers: | AGL CLO 11 Ltd./AGL CLO 11 LLC
|
| Issue: | Floating-rate, fixed-rate and subordinated notes
|
| Amount: | $504.45 million
|
| Maturity: | April 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Credit Suisse Securities (USA) LLC
|
| Manager: | AGL CLO Credit Management LP
|
| Call feature: | April 20, 2023
|
| Settlement date: | May 27
|
|
|
| Class AS notes
|
| Amount: | $307.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 119 bps
|
| Rating: | Moody's: AAA
|
|
|
| Class AJ notes
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| Amount: | $17.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 135 bps
|
| Rating: | Moody's:
|
|
|
| Class B-1 notes
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| Amount: | $40 million
|
| Securities: | Senior secured floating-rate notes
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| Coupon: | Libor plus 170 bps
|
| Rating: | Moody's: AA
|
|
|
| Class B-2 notes
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| Amount: | $15 million
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| Securities: | Senior secured fixed-rate notes
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| Coupon: | 3%
|
| Rating: | Moody's: AA
|
|
|
| Class C notes
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| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 205 bps
|
| Rating: | Moody's: A
|
|
|
| Class D notes
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| Amount: | $27.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | Libor plus 315 bps
|
| Rating: | Moody's: BBB-
|
|
|
| Class E notes
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| Amount: | $21.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 636 bps
|
| Rating: | Moody's: BB-
|
|
|
| Subordinated notes
|
| Amount: | $45.7 million
|
| Securities: | Subordinated notes
|
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