Chicago, July 1 – MP CLO Management LLC refinanced seven classes of notes for $332.35 million from the MP CLO VIII, Ltd./MP CLO VIII, LLC collateralized loan obligation transaction, according to multiple notices and an indenture.
The maturity date is now April 28, 2034.
The second refinancing includes $3.5 million of class A-X senior secured floating-rate notes at Libor plus 75 basis points, $224 million of class A-RR senior secured floating-rate notes at Libor plus 120 bps and $38.5 million of class B-RR senior secured floating-rate notes at Libor plus 180 bps.
Lower, there are $18 million of class C-RR secured deferrable floating-rate notes at Libor plus 230 bps, $21.95 million of class D-RR secured deferrable floating-rate notes at Libor plus 350 bps, $19 million of class E-RR secured deferrable floating-rate notes at Libor plus 722 bps, $2.75 million of class F secured deferrable floating-rate notes at Libor plus 872 bps and $4.65 million of subordinated notes.
Morgan Stanley & Co. LLC is the initial purchaser for the refinancing notes.
The non-call period for the second refinancing ends April 28, 2023.
MP CLO Management is a subsidiary of Greenwich, Conn.-based Marble Point Credit Management LLC, which is the investment manager of Marble Point Loan Financing.
| Issuers: | MP CLO VIII, Ltd./MP CLO VIII, LLC
|
| Issue: | Floating-rate notes and subordinate notes
|
| Amount: | $332.35 million
|
| Maturity: | April 28, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | MP CLO Management LLC
|
| Call feature: | April 28, 2023
|
| Settlement date: | June 10
|
|
|
| Class A-X notes
|
| Amount: | $3.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 75 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-RR notes
|
| Amount: | $224 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 120 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-RR notes
|
| Amount: | $38.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class C-RR notes
|
| Amount: | $18 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 230 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D-RR notes
|
| Amount: | $21.95 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 350 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E-RR notes
|
| Amount: | $19 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 722 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Class F notes
|
| Amount: | $2.75 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 872 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $4.65 million
|
| Securities: | Subordinated notes
|
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