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
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.