Chicago, Nov. 24 – Maranon Capital LP sold $421.2 million in a collateralized loan obligation being issued by Maranon Loan Funding 2022-1 LLC, according to a presale report.
The notes will mature on Nov. 25, 2033.
The CLO consists of $20 million of class X senior secured floating-rate notes at SOFR plus 250 basis points, $230 million of class A senior secured floating-rate notes at SOFR plus 280 bps, $40 million of class B senior secured floating-rate notes at SOFR plus 390 bps, $31.5 million of class C senior secured deferrable floating-rate notes at SOFR plus 525 bps, $19.2 million of class D senior secured deferrable floating-rate notes at SOFR plus 750 bps, $23 million of class E senior secured deferrable floating-rate notes at SOFR plus 1,050 bps $57.5 million of variable dividend notes.
Maranon Capital LP will manage the collateral through the end of the reinvestment period on Nov. 25, 2025.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting Nov. 25, 2023.
Natixis Securities Americas LLC was the placement agent.
Maranon Capital is a Chicago-based investment firm.
| Issuer: | Maranon Loan Funding 2022-1 LLC
|
| Issue: | Floating-rate notes and variable dividend notes
|
| Amount: | $421.2 million
|
| Maturity: | Nov. 25, 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | Maranon Capital LP
|
| Call feature: | Nov. 25, 2023
|
| Settlement date: | Nov. 22
|
|
|
| Class X notes
|
| Amount: | $20 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A notes
|
| Amount: | $230 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 280 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $40 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 390 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $31.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 525 bps
|
| Rating: | S&P: A-
|
|
|
| Class D notes
|
| Amount: | $19.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 750 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $23 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 1050 bps
|
| Rating: | S&P: BB-
|
|
|
| Variable dividend notes
|
| Amount: | $57.5 million
|
| Securities: | Variable dividend notes
|
|
|
|
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