By Cristal Cody
Tupelo, Miss., Dec. 21 – Maranon Capital, LP priced $354.75 million of notes in a debut middle-market collateralized loan obligation deal, according to a market source.
Maranon Loan Funding 2015-1 Ltd. sold $94 million of class A-1 floating-rate notes at Libor plus 210 basis points; $99.1 million of class A-2 floating-rate notes at Libor plus 200 bps; $42.1 million of class B floating-rate notes at Libor plus 300 bps; $21 million of class C floating-rate notes at Libor plus 375 bps; $26 million of class D floating-rate notes at Libor plus 525 bps; $25.8 million of class E floating-rate notes at Libor plus 775 bps and $46.75 million of subordinated notes.
Citigroup Global Markets Inc. was the placement agent.
Maranon Capital will manage the CLO.
The Chicago-based investment management firm provides middle-market financing services.
Issuer: | Maranon Loan Funding 2015-1 Ltd.
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Amount: | $354.75 million
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Securities: | Floating-rate and subordinated notes
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Structure: | Cash flow CLO
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Placement agent: | Citigroup Global Markets Inc.
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Manager: | Maranon Capital, LP
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Pricing date: | Dec. 16
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Class A-1 notes
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Amount: | $94 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 210 bps
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Ratings: | Moody’s: Aaa expected
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| Fitch: AAA expected
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|
Class A-2 notes
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Amount: | $99.1 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 200 bps
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Ratings: | Moody’s: Aaa expected
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| Fitch: AAA expected
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|
Class B notes
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Amount: | $42.1 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 300 bps
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Rating: | Moody’s: Aa2 expected
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|
Class C notes
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Amount: | $21 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 375 bps
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Rating: | Moody’s: A2 expected
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Class D notes
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Amount: | $26 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 525 bps
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Rating: | Moody’s: Baa3 expected
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Class E notes
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Amount: | $25.8 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 775 bps
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Rating: | Moody’s: Ba3 expected
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|
Equity
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Amount: | $46.75 million
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Securities: | Subordinated notes
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Ratings: | Non-rated
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