Chicago, Dec. 18 – AB Private Credit Investors LLC sold $397.44 million in a collateralized loan obligation being issued by ABPCI Direct Lending Fund CLO XVI LP, according to a presale report.
The CLO will mature on Feb. 1, 2036.
The transaction consists of $180 million of class A senior secured floating-rate notes at SOFR plus 250 basis points, $48 million of class A-L senior secured floating-rate loans at SOFR plus 250 bps, $36 million of class B senior secured floating-rate notes at SOFR plus 340 bps, $36 million of class C senior secured deferrable floating-rate notes at SOFR plus 425 bps, $28 million of class D senior secured deferrable floating-rate notes at SOFR plus 635 bps, $20 million of class E senior secured deferrable floating-rate notes at SOFR plus 861 bps and $49.44 million of partnership interests.
AB Private Credit Investors LLC will manage the collateral through the end of the reinvestment period on Feb. 1, 2028.
Collateral consists of middle-market speculative-grade senior secured term loans.
The CLO can be called starting Feb. 1, 2026.
Natixis Securities Americas LLC was the placement agent.
Middle-market lender AB Private Credit Investors is a subsidiary of New York-based AllianceBernstein LP.
Issuer: | ABPCI Direct Lending Fund CLO XVI LP
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Issue: | Floating-rate notes, floating-rate loans and partnership interests
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Amount: | $397.44 million
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Maturity: | Feb. 1, 2036
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Structure: | Cash flow CLO
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Placement agent: | Natixis Securities Americas LLC
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Manager: | AB Private Credit Investors LLC
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Call feature: | Feb. 1, 2026
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Pricing date: | Dec. 15
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Settlement date: | Dec. 21
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Class A notes
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Amount: | $180 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 250 bps
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Rating: | S&P: AAA
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Class A-L loans
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Amount: | $48 million
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Securities: | Senior secured floating-rate loans
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Coupon: | SOFR plus 250 bps
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Rating: | S&P: AAA
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Class B notes
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Amount: | $36 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 340 bps
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Rating: | S&P: AA
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Class C notes
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Amount: | $36 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 425 bps
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Rating: | S&P: A
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Class D notes
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Amount: | $28 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 635 bps
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Rating: | S&P: BBB-
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Class E notes
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Amount: | $20 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 861 bps
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Rating: | S&P: BB-
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Partnership interests
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Amount: | $49.44 million
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Securities: | Partnership interests
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