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.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $391.6 million
|
| Maturity: | July 20, 2030
|
| Structure: | Cash flow CLO
|
| Manager: | Marathon Asset Management, LP
|
| Settlement date: | Aug. 26
|
|
|
| Class A-1 notes
|
| Amount: | $256 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 222 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $16 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 290 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $23 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 325 bps
|
| Rating: | Fitch: AA+
|
|
|
| Class B-2 notes
|
| Amount: | $23 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6%
|
| Rating: | Fitch: AA+
|
|
|
| Class C notes
|
| Amount: | $22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 425 bps
|
| Rating: | Fitch: A+
|
|
|
| Class D notes
|
| Amount: | $12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 631 bps
|
| Rating: | Fitch: BBB+
|
|
|
| Class E notes
|
| Amount: | $16 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 604 bps
|
| Rating: | Fitch: BB+
|
|
|
| Subordinated notes
|
| Amount: | $23.6 million
|
| Securities: | Subordinated notes
|
|
|
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