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Published on 5/2/2019 in the Prospect News CLO Daily.

New Issue: Marble Point CLO Management prices $400 million Marble Point CLO XV

By Cristal Cody

Tupelo, Miss., May 2 – Marble Point CLO Management LLC priced $400 million of 13-year notes in the Marble Point CLO XV, Ltd./Marble Point CLO XV LLC broadly syndicated transaction, according to a pricing announcement on Thursday.

The CLO has an expected weighted average cost of debt of Libor plus 206 basis points.

Credit Suisse Securities (USA) LLC was the placement agent.

Marble Point CLO Management will manage the CLO.

The CLO has a two-year non-call period and a five-year reinvestment period.

Marble Point Loan Financing Ltd. said in the release it has committed to invest $17.4 million in the new CLO, which is 53.6% of the deal’s equity. The closed-ended company invests in dollar-denominated broadly syndicated floating-rate senior secured corporate loans via CLOs, loan accumulation facilities and other vehicles managed by Marble Point Credit Management LLC or its affiliates.

Marble Point CLO Management is an affiliate of the Greenwich, Conn.-based alternative asset manager.

Issuer:Marble Point CLO XV, Ltd./Marble Point CLO XV LLC
Amount:$404 million
Securities:Notes
Maturity:2032
Structure:Cash flow CLO
Placement agent:Credit Suisse Securities (USA) LLC
Manager:Marble Point CLO Management LLC
Weighted average cost of debt:Libor plus 206 bps
Call feature:Two years
Pricing date:April 30
Settlement date:June 6

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