The tranches in the $325 million ALM Loan Funding 2010-1 LTD CLO — arranged by Citigroup and managed by Apollo Management — have been priced, a source familiar with the situation said.
A $215 million tranche of triple-A-rated loans was priced at Libor plus 170 basis points at par, while an $11.1 million tranche of double-A-rated loans was priced at Libor plus 225 basis points, with a discount of 96.11.
A $24.7 million tranche of single-A-rated loans was priced Libor plus 230 basis points, with a discount of 91.44. There is also a $72 million equity tranche.
The CLO, which Apollo is still ramping, consists of secondary and primary loans. Calls to Citi were not immediately returned. Apollo declined to comment.
