Chicago, Oct. 4 – AGL CLO Credit Management LLC sold $601.68 million in a collateralized loan obligation being issued by AGL CLO 13 Ltd./AGL CLO 13 LLC, according to a pre-sale report.
The notes will mature on Oct. 20, 2034.
The CLO consists of $362 million of class A-1 senior secured floating-rate notes at Libor plus 116 basis points, $10 million of class A-2 2.36% senior secured fixed-rate notes, $84 million of class B senior secured floating-rate notes at Libor plus 165 bps, $36 million of class C senior secured deferrable floating-rate notes at Libor plus 205 bps, $36 million of class D senior secured deferrable floating-rate notes at Libor plus 315 bps, $24 million of class E senior secured deferrable floating-rate notes at Libor plus 650 bps and $49.68 million of subordinated notes.
AGL CLO Credit Management LLC will manage the collateral through the end of the reinvestment period on Oct. 20, 2026.
The majority of the collateral will come from senior secured loans, cash and eligible investments with most borrowers based in the United States.
The notes can be called starting Oct. 13, 2023.
Mizuho Securities USA LLC was the placement agent.
The New York-based investment firm was founded in 2019 and is a subsidiary of the Abu Dhabi Investment Authority.
| Issuers: | AGL CLO 13 Ltd./AGL CLO 13 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $601.68 million
|
| Maturity: | Oct. 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Mizuho Securities USA LLC
|
| Manager: | AGL CLO Credit Management LLC
|
| Call feature: | Oct. 13, 2023
|
| Settlement date: | Oct. 13
|
|
|
| Class A-1 notes
|
| Amount: | $362 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 116 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.36%
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $84 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 205 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 315 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 650 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $49.68 million
|
| Securities: | Subordinated notes
|
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