Chicago, April 22 – Deerpath Capital Management LP sold $452.61 million of notes and loans in a collateralized loan obligation being issued by Deerpath Capital CLO 2024-1 Ltd./Deerpath Capital CLO 2024-1 LLC, according to a presale report.
The notes will mature on July 15, 2036.
The CLO consists of $111 million of class A-1 senior secured floating-rate notes at SOFR plus 205 basis points, $150 million of class A-1L senior secured floating-rate loans at SOFR plus 205 bps, $13.5 million of class A-2 senior secured floating-rate notes at SOFR plus 230 bps, $31.5 million of class B senior secured floating-rate notes at SOFR plus 260 bps, $36 million of class C senior secured deferrable floating-rate notes at SOFR plus 335 bps, $27 million of class D senior secured deferrable floating-rate notes at SOFR plus 525 bps and $83.61 million of preferred shares.
Deerpath Capital Management LP will manage the collateral through the end of the reinvestment period on July 15, 2028.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting April 18, 2026.
GreensLedge Capital Markets LLC was the placement agent.
Deerpath Capital Management is a middle-market lender based in New York City.
| Issuer: | Deerpath Capital CLO 2024-1 Ltd./Deerpath Capital CLO 2024-1 LLC
|
| Issue: | Floating-rate notes, floating-rate loans and preferred shares
|
| Amount: | $452.61 million
|
| Maturity: | July 15, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | GreensLedge Capital Markets LLC
|
| Manager: | Deerpath Capital Management LP
|
| Call feature: | April 18, 2026
|
| Pricing date: | April 15
|
| Settlement date: | April 18
|
|
|
| Class A-1 notes
|
| Amount: | $111 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1L loans
|
| Amount: | $150 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $13.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $31.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 260 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
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| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 335 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
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| Amount: | $27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 525 bps
|
| Rating: | S&P: BBB-
|
|
|
| Preferred shares
|
| Amount: | $83.61 million
|
| Securities: | Preferred shares
|
|
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