Chicago, Aug. 31 – Marathon Asset Management, LP sold $391.6 million in a collateralized loan obligation issued by Marathon Static CLO 2022-18 Ltd., according to new issue report.
The notes will mature on July 20, 2030.
The CLO consists of $256 million of class A-1 senior secured floating-rate notes at SOFR plus 222 basis points, $16 million of class A-2 senior secured floating-rate notes at SOFR plus 290 bps, $23 million of class B-1 senior secured floating-rate notes at SOFR plus 325 bps, $23 million of class B-2 6% senior secured fixed-rate notes, $22 million of class C senior secured deferrable floating-rate notes at SOFR plus 425 bps, $12 million of class D senior secured deferrable floating-rate notes at SOFR plus 631 bps, $16 million of class E senior secured deferrable floating-rate notes at SOFR plus 604 bps and $23.6 million of subordinated notes.
Marathon Asset Management, LP will manage the CLO. There is no reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
Marathon Asset Management is a global credit manager based in New York City.
Issuer: | Marathon Static CLO 2022-18 Ltd.
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Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
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Amount: | $391.6 million
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Maturity: | July 20, 2030
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Structure: | Cash flow CLO
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Manager: | Marathon Asset Management, LP
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Settlement date: | Aug. 26
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Class A-1 notes
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Amount: | $256 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 222 bps
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Rating: | Fitch: AAA
|
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Class A-2 notes
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Amount: | $16 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 290 bps
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Rating: | Fitch: AAA
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Class B-1 notes
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Amount: | $23 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 325 bps
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Rating: | Fitch: AA+
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Class B-2 notes
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Amount: | $23 million
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Securities: | Senior secured fixed-rate notes
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Coupon: | 6%
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Rating: | Fitch: AA+
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Class C notes
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Amount: | $22 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 425 bps
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Rating: | Fitch: A+
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Class D notes
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Amount: | $12 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 631 bps
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Rating: | Fitch: BBB+
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Class E notes
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Amount: | $16 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 604 bps
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Rating: | Fitch: BB+
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Subordinated notes
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Amount: | $23.6 million
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Securities: | Subordinated notes
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