Chicago, March 3 – Marble Point CLO Management LLC sold $508.1 million in a collateralized loan obligation being issued by Marble Point CLO XXIII Ltd., according to a press release.
The notes will mature on Jan. 22, 2035.
The CLO consists of $310 million of class A-1 senior floating-rate notes, $15 million of class A-2 senior floating-rate notes, $40.25 million of class B-1 senior floating-rate notes, $14.75 million of class B-2 2.6% senior fixed-rate notes, $22.5 million of class C-1 mezzanine deferrable floating-rate notes, $5 million of class C-2 3.2% mezzanine deferrable fixed-rate notes, $20 million of class D-1 mezzanine deferrable floating-rate notes, $17.5 million of class D-2 mezzanine deferrable floating-rate notes, $15 million of class E junior deferrable floating-rate notes and $48.1 million of subordinated notes.
Marble Point CLO Management LLC will manage the collateral through the end of the five-year reinvestment period.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
Morgan Stanley & Co. LLC was the placement agent.
Marble Point CLO Management is part of Greenwich, Conn.-based alternative asset manager Marble Point Credit Management LLC.
| Issuer: | Marble Point CLO XXIII Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $508.1 million
|
| Maturity: | Jan. 22, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | Marble Point CLO Management LLC
|
| Settlement date: | Dec. 29
|
|
|
| Class A-1 notes
|
| Amount: | $310 million
|
| Securities: | Senior floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $15 million
|
| Securities: | Senior floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | $40.25 million
|
| Securities: | Senior floating-rate notes
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2 notes
|
| Amount: | $14.75 million
|
| Securities: | Senior fixed-rate notes
|
| Coupon: | 2.6%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C-1 notes
|
| Amount: | $22.5 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Rating: | Moody's: A2
|
|
|
| Class C-2 notes
|
| Amount: | $5 million
|
| Securities: | Mezzanine deferrable fixed-rate notes
|
| Coupon: | 3.2%
|
| Rating: | Moody's: A2
|
|
|
| Class D-1 notes
|
| Amount: | $20 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Rating: | Moody's: Baa2
|
|
|
| Class D-2 notes
|
| Amount: | $17.5 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Rating: | Moody's: Ba1
|
|
|
| Class E notes
|
| Amount: | $15 million
|
| Securities: | Junior deferrable floating-rate notes
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $48.1 million
|
| Securities: | Subordinated notes
|
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