Chicago, March 14 – AXA Investment Managers US Inc. priced $460.76 million in a collateralized loan obligation being issued by Allegro CLO XVI Ltd./Allegro CLO XVI LLC, according to a presale report.
The notes will mature on April 25, 2037.
The CLO consists of $288 million of class A-1 senior secured floating-rate notes at SOFR plus 156 basis points, $11.25 million of class A-2 senior secured floating-rate notes at SOFR plus 175 bps, $31.5 million of class B-1 senior secured floating-rate notes at SOFR plus 210 bps, $11.25 million of class B-2 senior secured floating-rate notes at SOFR plus 230 bps, $27 million of class C senior secured deferrable floating-rate notes at SOFR plus 270 bps, $20.25 million of class D-1 senior secured deferrable floating-rate notes at SOFR plus 390 bps, $6.75 million of class D-2 9.5% senior secured deferrable fixed-rate notes, $18 million of class E senior secured deferrable floating-rate notes at SOFR plus 709 bps and $46.76 million of subordinated notes.
AXA Investment Managers US Inc. will manage the collateral through the end of the reinvestment period on April 25, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 25, 2026.
Goldman Sachs & Co. LLC was the placement agent.
Greenwich, Conn.-based AXA is an asset management firm and subsidiary of Paris-based AXA Group.
| Issuer: | Allegro CLO XVI Ltd./Allegro CLO XVI LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $460.76 million
|
| Maturity: | April 25, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | AXA Investment Managers US Inc.
|
| Call feature: | April 25, 2026
|
| Pricing date: | March 7
|
| Settlement date: | April 11
|
|
|
| Class A-1 notes
|
| Amount: | $288 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 156 bps
|
|
|
| Class A-2 notes
|
| Amount: | $11.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 175 bps
|
|
|
| Class B-1 notes
|
| Amount: | $31.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | S&P: AA+
|
|
|
| Class B-2 notes
|
| Amount: | $11.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 270 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $20.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 390 bps
|
| Rating: | S&P: BBB
|
|
|
| Class D-2 notes
|
| Amount: | $6.75 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 9.5%
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 709 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $46.76 million
|
| Securities: | Subordinated notes
|
|
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