Chicago, Dec. 29 – Marble Point CLO Management LLC sold $296.25 million in a collateralized loan obligation being issued by Marble Point XXV, Ltd., according to a press release.
The notes will mature on Oct. 20, 2035.
The CLO consists of $158 million of class A-1A floating-rate notes at SOFR plus 230 basis points, $34 million of class A-1B 6.42% fixed-rate notes, $6 million of class A-2 floating-rate notes at SOFR plus 310 bps, $26.5 million of class B floating-rate notes at SOFR plus 375 bps, $18.5 million of class C floating-rate notes at SOFR plus 425 bps, $18.25 million of class D deferrable floating-rate notes at SOFR plus 606 bps, $9.5 million of class E deferrable floating-rate notes at SOFR plus 878 bps and $25.5 million of subordinated notes.
Marble Point CLO Management LLC will manage the collateral through the end of the 2.9-year reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
Marble Point CLO Management is part of Greenwich, Conn.-based alternative asset manager Marble Point Credit Management LLC.
| Issuer: | Marble Point XXV, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $296.25 million
|
| Maturity: | Oct. 20, 2035
|
| Structure: | Cash flow CLO
|
| Manager: | Marble Point CLO Management LLC
|
| Settlement date: | Nov. 23
|
|
|
| Class A-1A notes
|
| Amount: | $158 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-1B notes
|
| Amount: | $34 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 6.42%
|
| Rating: | Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 310 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $26.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 375 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $18.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 425 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $18.25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 606 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $9.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 878 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $25.5 million
|
| Securities: | Subordinated notes
|
|
|
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