Chicago, March 7 – Allstate Investment Management Co. refinanced for $477.62 million the collateralized loan obligation issued by Aimco CLO Series 2018-B/Aimco CLO Series 2018-B LLC, according to a presale report.
The notes will mature on April 16, 2037, representing a five-year extension.
The CLO consists of $288 million of class A-RR senior secured floating-rate notes at SOFR plus 150 basis points, $54 million of class B-RR senior secured floating-rate notes at SOFR plus 200 bps, $27 million of class C-RR senior secured deferrable floating-rate notes at SOFR plus 240 bps, $15 million of class D-1-R senior secured deferrable floating-rate notes at SOFR plus 340 bps, $9.75 million of class D-1-FR 7.37% senior secured deferrable fixed-rate notes, $4.5 million of class D-2-R senior secured deferrable floating-rate notes at SOFR plus 425 bps, $15.75 million of class E-R senior secured deferrable floating-rate notes at SOFR plus 630 bps and $63.62 million of subordinated notes.
Allstate Investment Management Co. will manage the collateral through the end of the reinvestment period on April 16, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 16, 2026.
BNP Paribas Securities Corp. was the placement agent.
The Northbrook, Ill.-based firm is a subsidiary of Allstate Corp.
| Issuer: | Aimco CLO Series 2018-B/Aimco CLO Series 2018-B LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $477.62 million
|
| Maturity: | April 16, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Allstate Investment Management Co.
|
| Call feature: | April 16, 2026
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 5
|
|
|
| Class A-RR notes
|
| Amount: | $288 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 150 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-RR notes
|
| Amount: | $54 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-RR notes
|
| Amount: | $27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1-R notes
|
| Amount: | $15 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 340 bps
|
| Rating: | S&P: BBB
|
|
|
| Class D-1-FR notes
|
| Amount: | $9.75 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 7.37%
|
| Rating: | S&P: BBB
|
|
|
| Class D-2-R notes
|
| Amount: | $4.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 425 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $15.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 630 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $63.62 million
|
| Securities: | Subordinated notes
|
|
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