Chicago, April 22 – Deerpath Capital Management LP sold $452.61 million of notes and loans in a collateralized loan obligation being issued by Deerpath Capital CLO 2024-1 Ltd./Deerpath Capital CLO 2024-1 LLC, according to a presale report.
The notes will mature on July 15, 2036.
The CLO consists of $111 million of class A-1 senior secured floating-rate notes at SOFR plus 205 basis points, $150 million of class A-1L senior secured floating-rate loans at SOFR plus 205 bps, $13.5 million of class A-2 senior secured floating-rate notes at SOFR plus 230 bps, $31.5 million of class B senior secured floating-rate notes at SOFR plus 260 bps, $36 million of class C senior secured deferrable floating-rate notes at SOFR plus 335 bps, $27 million of class D senior secured deferrable floating-rate notes at SOFR plus 525 bps and $83.61 million of preferred shares.
Deerpath Capital Management LP will manage the collateral through the end of the reinvestment period on July 15, 2028.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting April 18, 2026.
GreensLedge Capital Markets LLC was the placement agent.
Deerpath Capital Management is a middle-market lender based in New York City.
Issuer: | Deerpath Capital CLO 2024-1 Ltd./Deerpath Capital CLO 2024-1 LLC
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Issue: | Floating-rate notes, floating-rate loans and preferred shares
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Amount: | $452.61 million
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Maturity: | July 15, 2036
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Structure: | Cash flow CLO
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Placement agent: | GreensLedge Capital Markets LLC
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Manager: | Deerpath Capital Management LP
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Call feature: | April 18, 2026
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Pricing date: | April 15
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Settlement date: | April 18
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Class A-1 notes
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Amount: | $111 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 205 bps
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Rating: | S&P: AAA
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Class A-1L loans
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Amount: | $150 million
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Securities: | Senior secured floating-rate loans
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Coupon: | SOFR plus 205 bps
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Rating: | S&P: AAA
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Class A-2 notes
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Amount: | $13.5 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 230 bps
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Rating: | S&P: AAA
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Class B notes
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Amount: | $31.5 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 260 bps
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Rating: | S&P: AA
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Class C notes
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Amount: | $36 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 335 bps
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Rating: | S&P: A
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Class D notes
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Amount: | $27 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 525 bps
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Rating: | S&P: BBB-
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Preferred shares
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Amount: | $83.61 million
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Securities: | Preferred shares
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