Chicago, Sept. 10 – Allstate Investment Management Co. sold $410 million in a collateralized loan obligation being issued by Aimco CLO 15 Ltd./Aimco CLO 15 LLC, according to a pre-sale report.
The notes will mature on Oct. 17, 2034.
The CLO consists of $248 million of class A senior secured floating-rate notes at Libor plus 112 basis points, $56 million of class B senior secured floating-rate notes at Libor plus 165 bps, $24 million of class C senior secured deferrable floating-rate notes at Libor plus 195 bps, $24 million of class D senior secured deferrable floating-rate notes at Libor plus 290 bps, $16 million of class E senior secured deferrable floating-rate notes at Libor plus 595 bps and $42 million of subordinated notes.
Allstate Investment Management Co. will manage the collateral through the end of the reinvestment period on Oct. 17, 2026.
The notes can be called starting Oct. 17, 2023.
BofA Securities Inc. was the placement agent.
Allstate Investment Management is a Northbrook, Ill.-based investment firm and subsidiary of Allstate Corp.
| Issuer: | Aimco CLO 15 Ltd./Aimco CLO 15 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $410 million
|
| Maturity: | Oct. 17, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities Inc.
|
| Manager: | Allstate Investment Management Co.
|
| Call feature: | Oct. 17, 2023
|
| Settlement date: | Aug. 31
|
|
|
| Class A notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 112 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $56 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 195 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 290 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $16 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 595 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $42 million
|
| Securities: | Subordinated notes
|
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