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.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $1 billion
|
| Maturity: | Dec. 7, 2036
|
| Structure: | Cash flow CLO
|
| Manager: | Apollo Capital Management LLC
|
| Settlement date: | Dec. 7
|
|
|
| Class A notes
|
| Amount: | $767.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | S&P: A-
|
|
|
| Class B notes
|
| Amount: | $50.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 400 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class C notes
|
| Amount: | $78.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 775 bps
|
| Rating: | S&P: BB-
|
|
|
| Class D notes
|
| Amount: | $25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 900 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | $78.25 million
|
| Securities: | Subordinated notes
|
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