Chicago, Feb. 13 – American Money Management Corp. sold $406.84 million in a collateralized loan obligation being issued by AMMC CLO 26 Ltd./AMMC CLO 26 LLC, according to a presale report.
The notes will mature on April 15, 2036.
The CLO consists of $248 million of class A-1 senior secured floating-rate notes at SOFR plus 195 basis points, $8 million of class A-2 senior secured floating-rate notes at SOFR plus 230 bps, $33 million of class B-1 senior secured floating-rate notes at SOFR plus 245 bps, $15 million of class B-F 5.73% senior secured fixed-rate notes, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 340 bps, $23.6 million of class D senior secured deferrable floating-rate notes at SOFR plus 575 bps, $10.4 million of class E senior secured deferrable floating-rate notes at SOFR plus 828 bps, $8.8 million of class F senior secured deferrable floating-rate notes at SOFR plus 794 bps and $36.04 million of subordinated notes.
American Money Management Corp. will manage the collateral through the end of the reinvestment period on April 15, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting March 10, 2025.
RBC Capital Markets LLC was the placement agent.
American Money Management is a Cincinnati-based firm and subsidiary of insurance holding company American Financial Group, Inc.
| Issuer: | AMMC CLO 26 Ltd./AMMC CLO 26 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $406.84 million
|
| Maturity: | April 15, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | RBC Capital Markets LLC
|
| Manager: | American Money Management Corp.
|
| Call feature: | March 10, 2025
|
| Settlement date: | March 10
|
|
|
| Class A-1 notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 195 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | $33 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-F notes
|
| Amount: | $15 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.73%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 340 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $23.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 575 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $10.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 828 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F notes
|
| Amount: | $8.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 794 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | $36.04 million
|
| Securities: | Subordinated notes
|
|
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