By Cristal Cody
Tupelo, Miss., Dec. 14 – AGL CLO Credit Management LP priced $580.95 million of notes and loans due Jan. 20, 2034 in the manager’s seventh new broadly syndicated collateralized loan obligation transaction of the year, according to market sources.
AGL CLO 9 Ltd./AGL CLO 9 LLC sold $149.9 million of class AS floating-rate notes at Libor plus 150 basis points, $209.7 million of class AL loans at Libor plus 150 bps, $17.4 million of class AJ floating-rate notes at Libor plus 165 bps and $63.8 million of class B floating-rate notes at Libor plus 180 bps.
The CLO priced 31.9 million of class C deferrable floating-rate notes at Libor plus 250 bps, $31.9 million of class D deferrable floating-rate notes at Libor plus 370 bps, $21.7 million of class E deferrable floating-rate notes at Libor plus 726 bps and $54.65 million of subordinated notes.
Morgan Stanley & Co. LLC was the placement agent.
The notes have a two-year non-call period and a five-year reinvestment period.
The CLO is collateralized primarily by broadly syndicated first-lien senior secured corporate loans.
AGL Credit Management has issued seven new CLOs year to date.
The New York-based investment firm was founded in 2019 and is a subsidiary of the Abu Dhabi Investment Authority.
| Issuer: | AGL CLO 9 Ltd./AGL CLO 9 LLC
|
| Amount: | $580.95 million
|
| Maturity: | Jan. 20, 2034
|
| Securities: | Floating-rate notes, loans and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | AGL CLO Credit Management LP
|
| Call features: | Two years
|
| Settlement date: | Dec. 22
|
|
|
| Class AS notes
|
| Amount: | $149.9 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Ratings: | S&P: AAA
|
|
|
| Class AL loans
|
| Amount: | $209.7 million
|
| Securities: | Loans
|
| Coupon: | Libor plus 150 bps
|
| Ratings: | S&P: AAA
|
|
|
| Class AJ notes
|
| Amount: | $17.4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Ratings: | Non-rated
|
|
|
| Class B notes
|
| Amount: | $27.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Ratings: | Non-rated
|
|
|
| Class C notes
|
| Amount: | $31.9 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 250 bps
|
| Ratings: | Non-rated
|
|
|
| Class D notes
|
| Amount: | $31.9 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 370 bps
|
| Ratings: | Non-rated
|
|
|
| Class E notes
|
| Amount: | $21.7 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 726 bps
|
| Ratings: | Non-rated
|
|
|
| Equity
|
| Amount: | $54.65 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
|
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