Chicago, Dec. 19 – Deerpath Capital Management LP sold $353.65 million in a collateralized loan obligation being issued by Deerpath Capital CLO 2023-2 Ltd./Deerpath Capital CLO 2023-2 LLC, according to a presale report.
The notes will mature on Jan. 15, 2036.
The CLO consists of $203 million of class A-1 senior secured floating-rate notes at SOFR plus 255 basis points, $6 million of class A-2a senior secured floating-rate notes at SOFR plus 305 bps, $6 million of class A-2b 6.96% senior secured fixed-rate notes, $7 million of class B-1 senior secured floating-rate notes at SOFR plus 330 bps, $12.5 million of class B-2 7.21% senior secured fixed-rate notes, $23 million of class C-1 senior secured deferrable floating-rate notes at SOFR plus 440 bps, $8.5 million of class C-2 8.4% senior secured deferrable fixed-rate notes, $21 million of class D senior secured deferrable floating-rate notes at SOFR plus 660 bps and $66.65 million of preferred shares.
Deerpath Capital Management LP will manage the collateral through the end of the reinvestment period on Jan. 15, 2028.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting Dec. 19, 2025.
GreensLedge Capital Markets LLC (lead) and NatWest Markets Securities Inc. are the placement agents.
Deerpath Capital Management is a middle market lender based in New York City.
| Issuer: | Deerpath Capital CLO 2023-2 Ltd./Deerpath Capital CLO 2023-2 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and preferred shares
|
| Amount: | $353.65 million
|
| Maturity: | Jan. 15, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | GreensLedge Capital Markets LLC and NatWest Markets Securities Inc.
|
| Manager: | Deerpath Capital Management LP
|
| Call feature: | Dec. 19, 2025
|
| Pricing date: | Dec. 14
|
| Settlement date: | Dec. 19
|
|
|
| Class A-1 notes
|
| Amount: | $203 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 255 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2a notes
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| Amount: | $6 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 305 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2b notes
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| Amount: | $6 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.96%
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $7 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 330 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
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| Amount: | $12.5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 7.21%
|
| Rating: | S&P: AA
|
|
|
| Class C-1 notes
|
| Amount: | $23 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 440 bps
|
| Rating: | S&P: A
|
|
|
| Class C-2 notes
|
| Amount: | $8.5 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 8.4%
|
| Rating: | S&P: A
|
|
|
| Class D notes
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| Amount: | $21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 660 bps
|
| Rating: | S&P: BBB-
|
|
|
| Preferred shares
|
| Amount: | $66.65 million
|
| Securities: | Preferred shares
|
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