Chicago, July 5 – Allstate Investment Management Co. sold $402.6 million in a collateralized loan obligation being issued by Aimco CLO 17, Ltd., according to a new issue report and a press release.
The notes will mature on July 20, 2035.
The CLO consists of $256 million of class A senior secured floating-rate notes at SOFR plus 152 basis points, $48 million of class B senior secured floating-rate notes at SOFR plus 210 bps, $24 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 290 bps, $24 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 400 bps, $16 million of class E junior secured deferrable floating-rate notes at SOFR plus 759 bps, $1 million of class F junior secured deferrable floating-rate notes at SOFR plus 871 bps and $33.6 million of subordinated notes.
Allstate Investment Management Co. will manage the collateral through the end of the 5.1-year reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
BofA Securities, Inc. was the placement agent.
Allstate Investment Management is a Northbrook, Ill.-based investment firm and subsidiary of Allstate Corp.
| Issuer: | Aimco CLO 17, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $402.6 million
|
| Maturity: | July 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | Allstate Investment Management Co.
|
| Settlement date: | June 30
|
|
|
| Class A notes
|
| Amount: | $256 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 152 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $48 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 290 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 400 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $16 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 759 bps
|
| Rating: | Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | $1 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 871 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $33.6 million
|
| Securities: | Subordinated notes
|
|
|
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