Chicago, Dec. 9 – AGL CLO Credit Management LLC sold $387.65 million in a collateralized loan obligation being issued by AGL CLO 23 Ltd., according to a presale report and a press release.
The notes will mature on January 2036.
The CLO consists of $246 million of class A senior secured floating-rate notes at SOFR plus 220 basis points, $54 million of class B senior secured floating-rate notes at SOFR plus 310 bps, $22 million of class C senior secured floating-rate notes at SOFR plus 400 bps, $25 million of class D senior secured floating-rate notes at SOFR plus 593 bps, $13 million of class E senior secured floating-rate notes at SOFR plus 875 bps and $27.65 million of subordinated notes.
AGL CLO Credit Management LLC will manage the collateral through the end of the reinvestment period in January 2028.
Collateral for the notes consists of non-investment-grade broadly syndicated loans and other assets.
The notes can be called starting January 2025.
Barclays was the placement agent.
The collateral manager is a relying adviser of AGL Credit Management LP.
| Issuer: | AGL CLO 23 Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $387.65 million
|
| Maturity: | January 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | AGL CLO Credit Management LLC
|
| Call feature: | January 2025
|
| Settlement date: | Dec. 8
|
|
|
| Class A notes
|
| Amount: | $246 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 220 bps
|
| Rating: | Moody's: April
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $54 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 310 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $22 million
|
| Securities: | Senior SECURED floating-rate notes
|
| Coupon: | SOFR plus 400 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 593 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $13 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 875 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $27.65 million
|
| Securities: | Subordinated notes
|
|
|
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