Chicago, Oct. 15 – Ares CLO Management LLC sold $405.65 million in a collateralized loan obligation being issued by Ares Loan Funding I, Ltd., according to multiple notices.
The notes will mature on Oct. 15, 2034.
The CLO consists of $240 million of class A-1 senior floating-rate notes at Libor plus 114 basis points, $20 million of class A-2 senior floating-rate notes at Libor plus 140 bps, $40 million of class B senior floating-rate notes at Libor plus 165 bps, $20.8 million of class C mezzanine deferrable floating-rate notes at Libor plus 200 bps, $24.8 million of class D mezzanine deferrable floating-rate notes at Libor plus 300 bps, $19.4 million of class E mezzanine deferrable floating-rate notes at Libor plus 670 bps and $40.65 million of subordinated notes.
Ares CLO Management LLC will manage the collateral through the end of the reinvestment period in 2026.
The notes are collateralized primarily by broadly syndicated senior secured corporate loans.
Barclays was the placement agent.
The alternative asset management firm is based in Los Angeles.
| Issuer: | Ares Loan Funding I, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $405.65 million
|
| Maturity: | Oct. 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Ares CLO Management LLC
|
| Settlement date: | Sept. 14
|
|
|
| Class A-1 notes
|
| Amount: | $240 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 114 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $20 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 140 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $40 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $20.8 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | $24.8 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | Libor plus 300 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | $19.4 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | Libor plus 670 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $40.65 million
|
| Securities: | Subordinated notes
|
|
|
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