AXA to price $369.35 million CLO in European firm's first U.S. deal

By Cristal Cody

Tupelo, Miss., Dec. 16 - AXA Investment Managers Inc. plans to sell $369.35 million of notes due January 2026 in its first U.S.-based collateralized loan obligation deal, according to market sources.

Allegro CLO I Ltd./Allegro CLO I LLC is set to price $213.8 million of class A-1 senior secured floating-rate notes (Aaa/AAA/); $45.7 million of class A-2 senior secured floating-rate notes (/AA/); $28.5 million of class B senior secured deferrable floating-rate notes (/A/); $19.1 million of class C senior secured deferrable floating-rate notes (/BBB/); $17 million of class D secured deferrable floating-rate notes (/BB/) and $45.25 million of subordinated notes.

J.P. Morgan Securities LLC will arrange the transaction.

The deal is backed by a revolving pool of dollar-denominated broadly syndicated senior secured corporate loans.

The CLO has a two-year non-call period and a four-year reinvestment period.

The deal is expected to close Jan. 30.

AXA Investment Managers, a part of Paris-based AXA Group, has offices in Greenwich, Conn., Paris, London and Singapore.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.