Chicago, June 8 – American Money Management Corp. sold $404.2 million in a collateralized loan obligation issued by AMMC CLO 25, Ltd., according to a press release.
The notes will mature on April 16, 2035.
The CLO consists of $252 million of class A-1 senior secured floating-rate notes, $8 million of class A-2 senior secured floating-rate notes, $44 million of class B senior secured floating-rate notes, $22 million of class C secured deferrable floating-rate notes, $24 million of class D secured deferrable floating-rate notes, $18 million of class E secured deferrable floating-rate notes and $36.2 million of subordinated notes.
American Money Management Corp. 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.
Credit Suisse Securities (USA) 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 25, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $404.2 million
|
| Maturity: | April 16, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Credit Suisse Securities (USA) LLC
|
| Manager: | American Money Management Corp.
|
| Settlement date: | May 27
|
|
|
| Class A-1 notes
|
| Amount: | $252 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $8 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $44 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $22 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
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| Amount: | $24 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | $18 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $36.2 million
|
| Securities: | Subordinated notes
|
|
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