Chicago, March 7 – AIG Credit Management, LLC sold $510 million in a collateralized loan obligation being issued by AIG CLO 2021-3, LLC, according to press release.
The notes will mature on Jan. 25, 2035.
The CLO consists of $315 million of class A senior secured floating-rate notes, $65 million of class B senior secured floating-rate notes, $25 million of class C mezzanine secured deferrable floating-rate notes, $32.5 million of class D mezzanine secured deferrable floating-rate notes, $22.5 million of class E junior secured deferrable floating-rate notes and $50 million of subordinated notes.
AIG Credit Management, LLC will manage the collateral through the end of the five-year reinvestment period.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
Barclays was the placement agent.
The finance and insurance company is based New York.
| Issuer: | AIG CLO 2021-3, LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $510 million
|
| Maturity: | Jan. 25, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | AIG Credit Management, LLC
|
| Settlement date: | Dec. 23, 2021
|
|
|
| Class A notes
|
| Amount: | $315 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $65 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $25 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | $32.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | $22.5 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $50 million
|
| Securities: | Subordinated notes
|
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