Chicago, Aug. 29 – Allstate Investment Management Co. sold $492.63 million in a collateralized loan obligation being issued by Aimco CLO 18 Ltd./Aimco CLO 18 LLC, according to a presale report.
The notes will mature on July 20, 2035.
The CLO consists of $308 million of class A-1 senior secured floating-rate notes at SOFR plus 205 basis points, $12 million of class A-2 4.52% senior secured fixed-rate notes, $52 million of class B-1 senior secured floating-rate notes at SOFR plus 295 bps, $8 million of class B-2 5.36% senior secured fixed-rate notes, $30 million of class C senior secured deferrable floating-rate notes at SOFR plus 390 bps, $27.35 million of class D senior secured deferrable floating-rate notes at SOFR plus 485 bps, $15 million of class E senior secured deferrable floating-rate notes at SOFR plus 865 bps and $40.28 million of subordinated notes.
Allstate Investment Management Co. 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 July 20, 2024.
J.P. Morgan Securities LLC was the placement agent.
Allstate Investment Management is a Northbrook, Ill.-based investment firm and subsidiary of Allstate Corp.
| Issuer: | Aimco CLO 18 Ltd./Aimco CLO 18 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $492.63 million
|
| Maturity: | July 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | Allstate Investment Management Co.
|
| Call feature: | July 20, 2024
|
| Settlement date: | Sept. 8
|
|
|
| Class A-1 notes
|
| Amount: | $308 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $12 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 4.52%
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $52 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | SOFR plus 295 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $8 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.36%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 390 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $27.35 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 485 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $15 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 865 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $40.28 million
|
| Securities: | Subordinated notes
|
|
|
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