Chicago, June 7 – Marble Point CLO Management LLC sold $408.6 million of notes due April 23, 2034 in the Marble Point CLO XX Ltd./Marble Point CLO XX LLC collateralized loan obligation transaction, according to a pre-sale report.
The CLO sold $248 million of class A senior secured floating-rate notes at Libor plus 110 basis points, $56 million of class B senior secured floating-rate notes at Libor plus 185 bps, $24 million of class C senior secured deferrable floating-rate notes at Libor plus 260 bps, $16 million of class D-1 senior secured deferrable floating-rate notes at Libor plus 330 bps, $8 million of class D-2 senior secured deferrable floating-rate notes at Libor plus 511 bps and $14 million of class E senior secured deferrable floating-rate notes at Libor plus 711 bps.
There are also $42.6 million of subordinated notes.
Marble Point will manage the collateral, mainly senior secured term loans, through the five-year reinvestment period.
The notes can be called after two years.
Citigroup Global Markets Inc. is the initial purchaser.
Marble Point CLO Management is part of Greenwich, Conn.-based alternative asset manager Marble Point Credit Management LLC.
| Issuers: | Marble Point CLO XX Ltd./Marble Point CLO XX LLC
|
| Issue: | Floating-rate and subordinated notes
|
| Amount: | $408.6 million
|
| Maturity: | April 23, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Marble Point CLO Management LLC
|
| Call feature: | April 23, 2023
|
| Settlement date: | May 21
|
|
|
| Class A notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 110 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $56 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 185 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 260 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $16 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 330 bps
|
| Rating: | S&P: BBB+
|
|
|
| Class D-2 notes
|
| Amount: | $8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 511 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $14 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 711 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $42.6 million
|
| Securities: | Subordinated notes
|
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