Chicago, July 28 – AGL CLO Credit Management LLC sold $392.31 million in a collateralized loan obligation being issued by AGL CLO 20 Ltd., according to a presale report.
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 190 basis points, $44 million of class B senior secured floating-rate notes at SOFR plus 290 bps, $25.6 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 365 bps, $26 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 485 bps, $11.6 million of class E junior secured deferrable floating-rate notes at SOFR plus 816 bps, $1 million of class F junior secured deferrable floating-rate notes at SOFR plus 876 bps and $28.11 million of subordinated notes.
AGL CLO Credit Management LLC will manage the collateral through the end of the reinvestment period in July 2027.
Collateral for the notes consists of senior secured corporate loans.
The notes can be called starting July 2024.
BNP Paribas Securities Corp. was the placement agent.
The collateral manager is a relying adviser of AGL Credit Management LP.
Issuer: | AGL CLO 20 Ltd.
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Amount: | $392.31 million
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Issue: | Floating-rate notes and subordinated notes
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Maturity: | July 20, 2035
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Structure: | Cash flow CLO
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Placement agent: | BNP Paribas Securities Corp.
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Manager: | AGL CLO Credit Management LLC
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Call feature: | July 2024
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Settlement date: | August 2022
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Class A notes
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Amount: | $256 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 190 bps
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Rating: | Moody's: Aaa
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Class B notes
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Amount: | $44 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 290 bps
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Class C notes
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Amount: | $25.6 million
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Securities: | Mezzanine secured deferrable floating-rate notes
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Coupon: | SOFR plus 365 bps
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Class D notes
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Amount: | $26 million
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Securities: | Mezzanine secured deferrable floating-rate notes
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Coupon: | SOFR plus 485 bps
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Class E notes
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Amount: | $11.6 million
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Securities: | Junior secured deferrable floating-rate notes
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Coupon: | SOFR plus 816 bps
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Class F notes
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Amount: | $1 million
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Securities: | Junior secured deferrable floating-rate notes
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Coupon: | SOFR plus 876 bps
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Rating: | Moody's: B3
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Subordinated notes
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Amount: | $28.11 million
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Securities: | Subordinated notes
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