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
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Issue: | Floating-rate and subordinated notes
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Amount: | $408.6 million
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Maturity: | April 23, 2034
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Structure: | Cash flow CLO
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Placement agent: | Citigroup Global Markets Inc.
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Manager: | Marble Point CLO Management LLC
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Call feature: | April 23, 2023
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Settlement date: | May 21
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Class A notes
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Amount: | $248 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 110 bps
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Rating: | S&P: AAA
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Class B notes
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Amount: | $56 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 185 bps
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Rating: | S&P: AA
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Class C notes
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Amount: | $24 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 260 bps
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Rating: | S&P: A
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Class D-1 notes
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Amount: | $16 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 330 bps
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Rating: | S&P: BBB+
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Class D-2 notes
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Amount: | $8 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 511 bps
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Rating: | S&P: BBB-
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Class E notes
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Amount: | $14 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 711 bps
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Rating: | S&P: BB-
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Subordinated notes
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Amount: | $42.6 million
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Securities: | Subordinated notes
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