By Cristal Cody
Tupelo, Miss., Nov. 24 – Allstate Investment Management Co. priced a $501 million broadly syndicated collateralized loan obligation deal, a market source said.
Aimco 2015-1 CLO sold $280 million of class A-1 floating-rate notes at Libor plus 170 basis points; $45 million of class A-2 floating-rate notes at Libor plus 155 bps; $27.5 million of class B-N floating-rate notes at Libor plus 230 bps; $25 million of class B-L loans at Libor plus 230 bps; $27.5 million of class C floating-rate notes at Libor plus 330 bps; $28.5 million of class D floating-rate notes at Libor plus 455 bps; $27 million of class E floating-rate notes at Libor plus 782 bps; $8.5 million of class F floating-rate notes at Libor plus 850 bps and $32 million of subordinated notes.
Goldman Sachs & Co. arranged the deal.
Allstate Investment Management is the CLO manager.
The Northbrook, Ill.-based firm, a subsidiary of Allstate Corp., last priced a CLO offering in 2014.
| Issuer: | Aimco 2015-1 CLO
|
| Amount: | $501 million
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co.
|
| Manager: | Allstate Investment Management Co.
|
| Pricing date: | Nov. 6
|
|
|
| Class A-1 notes
|
| Amount: | $280 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | Moody’s: Aaa expected
|
|
|
| Class A-2 notes
|
| Amount: | $45 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 155 bps
|
| Rating: | Moody’s: Aaa expected
|
|
|
| Class B-N notes
|
| Amount: | $27.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 230 bps
|
| Rating: | Moody’s: Aa2 expected
|
|
|
| Class B-L loans
|
| Amount: | $25 million
|
| Securities: | Loans
|
| Coupon: | Libor plus 230 bps
|
| Rating: | Moody’s: Aa2 expected
|
|
|
| Class C notes
|
| Amount: | $27.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 330 bps
|
| Rating: | Moody’s: A2 expected
|
|
|
| Class D notes
|
| Amount: | $28.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 455 bps
|
| Rating: | Moody’s: Baa3 expected
|
|
|
| Class E notes
|
| Amount: | $27 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 782 bps
|
| Rating: | Moody’s: Ba3 expected
|
|
|
| Class F notes
|
| Amount: | $8.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 850 bps
|
| Ratings: | Moody’s: B3 expected
|
|
|
| Equity
|
| Amount: | $32 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
© 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.
