Chicago, Jan. 10 – Allstate Investment Management Co. sold $506.45 million in a collateralized loan obligation being issued by Aimco CLO 16 Ltd./Aimco CLO 16 LLC, according to a pre-sale report.
The notes will mature on Jan. 17, 2035.
The CLO consists of $222.25 million of class A-L loan senior secured floating-rate notes at Libor plus 113 basis points, $95.25 million of class A senior secured floating-rate notes at Libor plus 113 bps, $62.5 million of class B senior secured floating-rate notes at Libor plus 165 bps, $30 million of class C senior secured deferrable floating-rate notes at Libor plus 200 bps, $30 million of class D senior secured deferrable floating-rate notes at Libor plus 290 bps, $18.75 million of class E senior secured deferrable floating-rate notes at Libor plus 620 bps and $47.7 million of subordinated notes.
Allstate Investment Management Co. will manage the collateral through the end of the reinvestment period on Jan. 17, 2027.
Collateral comes from a portfolio of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Jan. 17, 2024.
Goldman Sachs & Co. LLC was the placement agent.
Allstate Investment Management is a Northbrook, Ill.-based investment firm and subsidiary of Allstate Corp.
| Issuer: | Aimco CLO 16 Ltd./Aimco CLO 16 LLC
|
| Issue: | Floating-rate loan, floating-rate notes and subordinated notes
|
| Amount: | $506.45 million
|
| Maturity: | Jan. 17, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | Allstate Investment Management Co.
|
| Call feature: | Jan. 17, 2024
|
| Settlement date: | Dec. 17
|
|
|
| Class A-L loan
|
| Amount: | $222.25 million
|
| Securities: | Senior secured floating-rate loan
|
| Coupon: | Libor plus 113 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A notes
|
| Amount: | $95.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 113 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $62.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 290 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $18.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 620 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $47.7 million
|
| Securities: | Subordinated notes
|
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