Chicago, June 14 – AXA Investment Managers, Inc. conducted an additional $353.98 million refinancing of three classes of notes from the 2016 collateralized loan obligation listing Allegro CLO IV, Ltd./Allegro CLO IV LLC as co-issuers, according to a release.
The notes still mature on Jan. 15, 2030.
The manager is refinancing the $276.58 million of class A-R2 senior secured floating-rate notes at Libor plus 95 basis points, $52.65 million of class B-R2 senior secured floating-rate notes at Libor plus 155 bps and $24.75 million of class C-R2 mezzanine secured deferrable floating-rate notes at Libor plus 200 bps.
At the last refinancing, the issuer sold $288 million of class A-R senior secured floating-rate notes at Libor plus 115 bps and $52.65 million of class B-R senior secured floating-rate notes at Libor plus 170 bps.
Also in the last refinancing were $24.75 million of class C-R mezzanine secured deferrable floating-rate notes at Libor plus 230 bps, $27 million of class D-R mezzanine secured deferrable floating-rate notes at Libor plus 380 bps and $21.6 million of class E-R mezzanine secured deferrable floating-rate notes at Libor plus 728 bps.
The original CLO priced $256 million of class A floating-rate notes at Libor plus 142 bps; $46.8 million of class B floating-rate notes at Libor plus 200 bps; $22 million of class C floating-rate notes at Libor plus 260 bps; $24 million of class D floating-rate notes at Libor plus 395 bps; $19.2 million of class E floating-rate notes at Libor plus 750 bps and $37.5 million of subordinated notes.
The non-call period is being extended.
AXA will continue to direct the selection of the portfolio made of broadly syndicated senior secured corporate loans.
Greenwich, Conn.-based AXA is an asset management firm and subsidiary of Paris-based AXA Group.
| Issuer: | Allegro CLO IV, Ltd./Allegro CLO IV LLC
|
| Issue: | Floating-rate notes
|
| Amount: | $353.98 million
|
| Maturity: | Jan. 15, 2030
|
| Structure: | Cash flow CLO
|
| Manager: | AXA Investment Managers, Inc.
|
| Announcement date: | May 24
|
|
|
| Class A-R2 notes
|
| Amount: | $276.58 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 95 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-R2 notes
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| Amount: | $52.65 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 155 bps
|
| Rating: | Moody's: Aa1
|
|
|
| Class C-R2 notes
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| Amount: | $24.75 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Rating: | Moody's: A1
|
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