Chicago, Sept. 19 – Marathon Asset Management LP sold $400.6 million in a collateralized loan obligation being issued by Bryant Park Funding 2023-21 Ltd./Bryant Park Funding 2023-21 LLC, according to a presale report.
The notes will mature on Oct. 18, 2036.
The CLO consists of $240 million of class A-1 senior secured floating-rate notes at SOFR plus 205 basis points, $12 million of class A-2 senior secured floating-rate notes at SOFR plus 235 bps, $52 million of class B senior secured floating-rate notes at SOFR plus 275 bps, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 350 bps, $22 million of class D senior secured deferrable floating-rate notes at SOFR plus 545 bps, $13.2 million of class E senior secured deferrable floating-rate notes at SOFR plus 847 bps and $37.4 million of subordinated notes.
Marathon Asset Management LP will manage the collateral through the end of the reinvestment period on Oct. 18, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Oct. 5, 2025.
Barclays was the placement agent.
Marathon Asset Management is a global credit manager based in New York City.
| Issuer: | Bryant Park Funding 2023-21 Ltd./Bryant Park Funding 2023-21 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $400.6 million
|
| Maturity: | Oct. 18, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Marathon Asset Management LP
|
| Call feature: | Oct. 5, 2025
|
| Pricing date: | Sept. 12
|
| Settlement date: | Oct. 5
|
|
|
| Class A-1 notes
|
| Amount: | $240 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $12 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 235 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $52 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 275 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 350 bps
|
| Rating: | S&P: A+
|
|
|
| Class D notes
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| Amount: | $22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 545 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $13.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 847 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $37.4 million
|
| Securities: | Subordinated notes
|
|
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