Chicago, May 13 – AXA Investment Managers US Inc. sold $404.655 million in a collateralized loan obligation being issued by Allegro CLO XV Ltd./Allegro CLO XV LLC, according to a presale report.
The notes will mature on July 20, 2035.
The CLO consists of $195 million of class A senior secured floating-rate notes at SOFR plus 150 basis points, $61 million of class A senior secured floating-rate loans at SOFR plus 150 bps, $48 million of class B senior secured floating-rate notes at SOFR plus 205 bps, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 250 bps, $24 million of class D senior secured deferrable floating-rate notes at SOFR plus 365 bps, $14 million of class E senior secured deferrable floating-rate notes at SOFR plus 735 bps, $2.8 million of class F senior secured deferrable floating-rate notes at SOFR plus 795 bps and $35.855 million of subordinated notes.
AXA Investment Managers US Inc. will manage the collateral through the end of the reinvestment period on July 20, 2027.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting June 10, 2024.
Citigroup Global Markets Inc. was the placement agent.
Greenwich, Conn.-based AXA is an asset management firm and subsidiary of Paris-based AXA Group.
The asset manager was formerly known as AXA Investment Managers, Inc.
| Issuer: | Allegro CLO XV Ltd./Allegro CLO XV LLC
|
| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
|
| Amount: | $404.655 million
|
| Maturity: | July 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | AXA Investment Managers US Inc.
|
| Call feature: | June 10, 2024
|
| Settlement date: | June 10
|
|
|
| Class A notes
|
| Amount: | $195 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 150 bps
|
|
|
| Class A loans
|
| Amount: | $61 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | SOFR plus 150 bps
|
|
|
| Class B notes
|
| Amount: | $48 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 365 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $14 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 735 bps
|
|
|
| Class F notes
|
| Amount: | $2.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 795 bps
|
|
|
| Subordinated notes
|
| Amount: | $35.855 million
|
| Securities: | Subordinated notes
|
|
|
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