Chicago, May 19 – AGL CLO Credit Management LLC sold $392.6 million in a collateralized loan obligation being issued by AGL CLO 24 Ltd., according to multiple press releases.
The notes will mature on July 25, 2036.
The CLO consists of $248 million of class A-1 senior secured floating-rate notes at SOFR plus 200 basis points, $12 million of class A-2 senior secured floating-rate notes at SOFR plus 225 bps, $43.2 million of class B senior secured floating-rate notes at SOFR plus 265 bps, $22 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 350 bps, $23.8 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 550 bps, $14.6 million of class E junior secured deferrable floating-rate notes at SOFR plus 865 bps and $29 million of subordinated notes.
AGL CLO Credit Management LLC will manage the collateral through the end of the reinvestment period on 5.2-year.
Collateral for the notes consists of senior secured leveraged loans.
The collateral manager is a relying adviser of AGL Credit Management LP.
| Issuer: | AGL CLO 24 Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $392.6 million
|
| Maturity: | July 25, 2036
|
| Structure: | Cash flow CLO
|
| Manager: | AGL CLO Credit Management LLC
|
| Settlement date: | May 11
|
|
|
| Class A-1 notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $12 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 225 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $43.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 265 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $22 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 350 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
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| Amount: | $23.8 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 550 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $14.6 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 865 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $29 million
|
| Securities: | Subordinated notes
|
|
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