Chicago, Nov. 30 – American Money Management Corp. sold $349.83 million in a collateralized loan obligation being issued by AMMC CLO 27 Ltd./AMMC CLO 27 LLC, according to a presale report.
The notes will mature on Jan. 20, 2036.
The CLO consists of $178.48 million of class A-1A senior secured floating-rate notes at SOFR plus 240 basis points, $41 million of class A-1F 6.71% senior secured fixed-rate notes, $7.08 million of class A-J senior secured floating-rate notes at SOFR plus 275 bps, $23.5 million of class B-1 senior secured floating-rate notes at SOFR plus 310 bps, $17.21 million of class B-F 7.05% senior secured fixed-rate notes, $18.585 million of class C senior secured deferrable floating-rate notes at SOFR plus 410 bps, $18.6 million of class D senior secured deferrable floating-rate notes at SOFR plus 601 bps, $13.275 million of class E senior secured deferrable floating-rate notes at SOFR plus 889 bps and $32.1 million of subordinated notes.
American Money Management Corp. will manage the collateral through the end of the reinvestment period on Jan. 20, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Jan. 20, 2025.
Jefferies LLC was the placement agent.
American Money Management is a Cincinnati-based firm and subsidiary of insurance holding company American Financial Group, Inc.
| Issuer: | AMMC CLO 27 Ltd./AMMC CLO 27 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $349.83 million
|
| Maturity: | Jan. 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | American Money Management Corp.
|
| Call feature: | Jan. 20, 2025
|
| Settlement date: | Dec. 14
|
|
|
| Class A-1A notes
|
| Amount: | $178.48 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
|
|
| Class A-1F notes
|
| Amount: | $41 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.71%
|
|
|
| Class A-J notes
|
| Amount: | $7.08 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 275 bps
|
|
|
| Class B-1 notes
|
| Amount: | $23.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 310 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-F notes
|
| Amount: | $17.21 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 7.05%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $18.585 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 410 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $18.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 601 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $13.275 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 889 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $32.1 million
|
| Securities: | Subordinated notes
|
|
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